LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0670%/8h= −73.4% APRnext payment −$0.84 per $10,000 · paid last 24h −0.051%

Price spread now: Deribit against dYdX+0.109%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$233as in the Funding arb table

Net, price: spread back to 7d avg − costs−$174as in the Price arb table

costs, in and out, $10k−$1851.853% of the position

Long on dYdX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.473%−$47 on $10k

Price spread, last 3 days (all we have)−0.010%−$1 · spread now +0.109%, 7d avg −0.006%

Together, before fees−0.483%−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.116% dearer against dYdX than usual: you sell high and buy low (spread +0.109% now, against its 7-day average of −0.006%): +$12 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.473% in total) that is about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	13.142	0.0670	pay 0.0084% / 1h	29m 12s	$348K	$48K	10x
Short	Deribit LINK_USDC-PERPETUAL	13.156	0	get 0.0000% / 1h	29m 12s	$726K	$133K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.109%Rate

Funding earned: −$140.78
Price spread: +0.109% → −0.006%: $11.56
Slippage, 4 orders: −$168.31
Fee dYdX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$314.52
Costs to cover: 1.853%
Break-even: never at this rate

Slippage from dYdX: live order book, 50 min ago; Deribit: live order book, 50 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, 50 min ago	78.47 bp	83.5 bp −$83	83.5 bp −$835	83.7 bp −$8,373	145.8 bp −$72.9K
Sell Deribit live order book, 50 min ago	4.17 bp	10.7 bp −$11	16.2 bp −$162	doesn't fit	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 −0.0091% / S +0.0167%	1h	13.146	+0.032%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.150	+0.067%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUALshort	0.0000%	1h	13.156	+0.109%	$726K	$133K	50x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.147	+0.039%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.171	+0.223%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.643%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.150	+0.064%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.146	+0.036%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.142	+0.004%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.139	−0.019%	$401K	$311K	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	13.146	+0.034%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.147	+0.039%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.147	+0.044%	$122.3M	$304.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.146	+0.034%	$84.7M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.147	+0.042%	$27.7M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.161	+0.148%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.148	+0.049%	$130.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.150	+0.064%	$36.7M	$57.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.152	+0.080%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.147	+0.042%	$54.7M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.148	+0.049%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.146	+0.034%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.162	+0.157%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	+0.028%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.173	+0.239%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.147	+0.042%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.148	+0.051%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.158	+0.127%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.151	+0.072%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.127	−0.110%	$646K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.148	+0.046%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.154	+0.092%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.140	−0.012%	$994K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.143	+0.011%	$5.3M	$17.3M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0247%	1h	13.159	+0.133%	$363K	$379K	15x	as long as short
Hyperliquid LINK	+0.0277%	1h	13.165	+0.179%	$78.0M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.143	+0.008%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0477%	1h	13.161	+0.149%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0483%	8h	13.163	+0.163%	$20.4M	$11.6M	50x	as long as short
dYdX LINK-USDlong	+0.0670%	1h	13.142	long leg	$348K	$48K	10x