Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0263%/8h= −28.8% APRpaid last 24h −0.026%

Price spread now: BingX against dYdX+0.032%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$167as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1401.399% of the position

Long on dYdX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.275%−$28 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. BingX is 0.032% dearer against dYdX than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.275% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	13.008	0.0363	pay 0.0045% / 1h	42m 55s	$345K	$30K	10x
Short	BingX LINK-USDC	13.012	0.0100	get 0.0100% / 8h	5h 42m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against dYdX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee dYdXbpFee BingXbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$55.26
Price spread: +0.032% → 0.000%: $3.21
Slippage, 4 orders: −$119.92
Fee dYdX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$191.97
Costs to cover: 1.399%
Break-even: never at this rate

Slippage from dYdX: live order book, 21 min ago; BingX: live order book, 9 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy dYdX live order book, 21 min ago	54.59 bp	59.6 bp −$60	59.6 bp −$596	131.3 bp −$13.1K	421.1 bp −$210.6K
Sell BingX live order book, 9 min ago	0.77 bp	12.0 bp −$12	27.0 bp −$270	88.1 bp −$8,813	380.2 bp −$190.1K

LINK on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX LINK/USD [LINK-USDC]	L −0.0090% / S +0.0167%	1h	13.010	+0.020%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.012	+0.029%	$480K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.009	+0.007%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.673%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.026	+0.140%	$940K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	13.012	+0.032%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.015	+0.058%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.004	−0.029%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.008	−0.002%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.007	−0.006%	$395K	$315K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.017	+0.069%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.010	+0.018%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.015	+0.055%	$119.9M	$296.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.012	+0.032%	$84.2M	$71.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.013	+0.040%	$27.5M	$82.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.022	+0.109%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.011	+0.024%	$128.6M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.013	+0.040%	$32.0M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.018	+0.078%	$23.1M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.012	+0.032%	$54.1M	$30.0M	75x	as long as short
BingX LINK-USDCshort	+0.0100%	8h	13.012	+0.032%	—	$6.6M	—
Variational Omni LINK	+0.0100%	8h	12.971	−0.281%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.995	−0.098%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.965	−0.332%	$581K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.003	−0.037%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.016	+0.063%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.012	+0.033%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.025	+0.129%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.016	+0.063%	$14K	$49K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.990	−0.139%	$641K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.010	+0.013%	$701K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.019	+0.085%	$546K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.019	+0.086%	$340K	$378K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.015	+0.055%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0311%	1h	13.019	+0.087%	$773K	$193K	50x	as long as short
dYdX LINK-USDlong	+0.0363%	1h	13.008	long leg	$345K	$30K	10x
Reya LINKRUSDPERP	+0.0386%	1h	13.008	+0.004%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0553%	1h	13.019	+0.082%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0597%	8h	13.029	+0.163%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0731%	1h	13.023	+0.117%	$81.6M	$26.8M	10x	as long as short