Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0332%/8h= −36.3% APRpaid last 24h −0.024%

Price spread now: edgeX against dYdX−0.216%111s7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$202as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1771.768% of the position

Long on dYdX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.248%−$25 on $10k

Price spread, last 4 days (all we have)+0.993%+$99 · spread now −0.216%, 7d avg −0.018%

Together, before fees+0.745%+ Points / potential airdropedgeX: Active · farm board+$75 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and edgeX is 0.197% cheaper against dYdX than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.018%). Swap the legs. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	12.985	0.0432	pay 0.0054% / 1h	5m 46s	$344K	$31K	10x
Short	edgeX LINKUSDC	12.957	0.0100	get 0.0050% / 4h	2h 05m	$43K	$305K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.216%Rate

Funding earned: −$69.67
Price spread: −0.216% → −0.018%: −$19.73
Slippage, 4 orders: −$157.76
Fee dYdX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$266.16
Costs to cover: 1.768%
Break-even: never at this rate

Slippage from dYdX: live order book, 63 min ago; edgeX: live order book, 62 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, 63 min ago	46.74 bp	51.7 bp −$52	54.4 bp −$544	60.9 bp −$6,088	282.5 bp −$141.3K
Sell edgeX live order book, 62 min ago	2.65 bp	7.2 bp −$7	10.5 bp −$105	doesn't fit	doesn't fit

LINK on 39 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	12.993	+0.057%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.995	+0.072%	$468K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.993	+0.059%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.508%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.992	+0.052%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.996	+0.082%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.000	+0.112%	$951K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.992	+0.054%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.996	+0.079%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.989	+0.028%	$395K	$318K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.990	+0.036%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.994	+0.066%	$275K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.992	+0.051%	$119.5M	$300.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.989	+0.028%	$83.9M	$71.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.993	+0.059%	$27.4M	$82.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.008	+0.174%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.985	−0.003%	$128.1M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.995	+0.074%	$33.2M	$59.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.996	+0.082%	$23.0M	$14.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.992	+0.051%	$54.0M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.992	+0.051%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.988	+0.022%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDCshort	+0.0100%	4h	12.957	−0.216%	$43K	$305K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	12.959	−0.203%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.958	−0.211%	$133K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.001	+0.120%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.997	+0.090%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.010	+0.191%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.997	+0.089%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.971	−0.109%	$640K	$689K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.982	−0.027%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.000	+0.112%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0135%	1h	13.000	+0.112%	$338K	$379K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0227%	1h	13.003	+0.133%	$772K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	12.993	+0.058%	$4K	—	20x	as long as short
dYdX LINK-USDlong	+0.0432%	1h	12.985	long leg	$344K	$31K	10x
Hyperliquid LINK	+0.0471%	1h	13.008	+0.174%	$81.0M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0501%	1h	13.001	+0.121%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0630%	8h	13.014	+0.220%	$20.1M	$11.5M	50x	as long as short