Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h −0.024%

Price spread now: Bitget against dYdX−0.032%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$211as in the Funding arb table

Net, price: spread back to 7d avg − costs−$183as in the Price arb table

costs, in and out, $10k−$1831.834% of the position

Long on dYdX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.281%−$28 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.032%, 7d avg −0.033%

Together, before fees−0.270%−$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.033%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.281%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	13.223	0.0056	pay 0.0007% / 1h	0m 04s	$350K	$48K	10x
Short	Bitget LINKUSDT	13.219	0.0100	get 0.0100% / 8h	1h 00m	$55.1M	$30.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.032%Rate

Funding earned: $9.25
Price spread: −0.032% → −0.033%: $0.11
Slippage, 4 orders: −$161.38
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$174.01
Costs to cover: 1.834%
Break-even: 138.7 days

Slippage from dYdX: live order book, 19 min ago; Bitget: live order book, 4 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, 19 min ago	78.47 bp	83.5 bp −$83	83.5 bp −$835	83.7 bp −$8,373	145.8 bp −$72.9K
Sell Bitget live order book, 4 min ago	0.38 bp	8.6 bp −$9	14.6 bp −$146	31.7 bp −$3,168	doesn't fit

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	13.222	−0.012%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.231	+0.056%	$488K	$2.4M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.221	−0.017%	$134K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0007%	1h	13.226	+0.021%	$725K	$128K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.226%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.203	−0.152%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.219	−0.032%	$134K	$1.5M	20x	as long as short
dYdX LINK-USDlong	+0.0056%	1h	13.223	long leg	$350K	$48K	10x
Lighter LINK	+0.0096%	1h	13.219	−0.029%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.214	−0.067%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.215	−0.062%	$404K	$313K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.235	+0.089%	$78.2M	$24.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.225	+0.014%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.220	−0.025%	$277K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.223	−0.003%	$123.1M	$303.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.219	−0.032%	$85.4M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.222	−0.010%	$27.9M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.233	+0.074%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.220	−0.025%	$131.0M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.220	−0.025%	$37.0M	$57.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.224	+0.006%	$22.7M	$15.4M	75x	as long as short
Bitget LINKUSDTshort	+0.0100%	8h	13.219	−0.032%	$55.1M	$30.6M	75x
BingX LINK-USDC	+0.0100%	8h	13.221	−0.017%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.194	−0.223%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.204	−0.142%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.198	−0.191%	$595K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.207	−0.123%	$154K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.226	+0.021%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.219	−0.036%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.236	+0.097%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.222	−0.010%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.200	−0.180%	$649K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.217	−0.044%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.224	+0.006%	$555K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.221	−0.017%	$999K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.206	−0.131%	$5.3M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0223%	1h	13.231	+0.059%	$365K	$380K	15x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.219	−0.028%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0460%	8h	13.234	+0.081%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0691%	1h	13.228	+0.037%	$7.0M	$8.2M	50x	as long as short