Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0084%/8h= +9.1% APRpaid last 24h −0.037%

Price spread now: Gate against dYdX−0.052%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$321as in the Funding arb table

Net, price: spread back to 7d avg − costs−$290as in the Price arb table

costs, in and out, $10k−$2872.874% of the position

Long on dYdX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.335%−$34 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.052%, 7d avg −0.021%

Together, before fees−0.355%−$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.030% cheaper against dYdX than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of −0.021%). If the spread goes back, that is −$3 on $10k: about 29 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.335%, 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	13.187	0.0016	pay 0.0002% / 1h	16m 13s	$349K	$60K	10x
Short	Gate LINK_USDT	13.180	0.0100	get 0.0100% / 8h	2h 16m	$130.9M	$12.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.052%Rate

Funding earned: $17.54
Price spread: −0.052% → −0.021%: −$3.04
Slippage, 4 orders: −$262.4
Fee dYdX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$272.9
Costs to cover: 2.874%
Break-even: 115.9 days

Slippage from dYdX: live order book, 8 min ago; Gate: live order book, 3 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, 8 min ago	125.69 bp	130.7 bp −$131	130.7 bp −$1,307	131.7 bp −$13.2K	191.2 bp −$95.6K
Sell Gate live order book, 3 min ago	0.38 bp	15.6 bp −$16	20.3 bp −$203	35.3 bp −$3,532	77.6 bp −$38.8K

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 −0.0092% / S +0.0166%	1h	13.183	−0.031%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.194	+0.052%	$493K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.184	−0.019%	$717K	$122K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.183	−0.026%	$134K	—	150x	as long as short
dYdX LINK-USDlong	+0.0016%	1h	13.187	long leg	$349K	$60K	10x
Phoenix LINK	+0.0018%	1h	13.185	−0.016%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.967%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0042%	8h	13.178	−0.067%	$134K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0087%	8h	13.164	−0.175%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.185	−0.015%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.189	+0.017%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.189	+0.020%	$401K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.198	+0.085%	$78.0M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.189	+0.019%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.193	+0.048%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.178	−0.071%	$122.1M	$301.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.176	−0.082%	$84.8M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.175	−0.090%	$27.9M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.201	+0.107%	$185K	$172K	10x	as long as short
Gate LINK_USDTshort	+0.0100%	8h	13.180	−0.052%	$130.9M	$12.8M	75x
MEXC LINK_USDT	+0.0100%	8h	13.176	−0.082%	$37.3M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.182	−0.037%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.180	−0.052%	$54.6M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.182	−0.037%	—	$21.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.167	−0.150%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.164	−0.173%	$594K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.168	−0.143%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.189	+0.016%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.179	−0.063%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.194	+0.058%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.178	−0.067%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.157	−0.229%	$647K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.177	−0.072%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.183	−0.026%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.202	+0.115%	$993K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.191	+0.032%	$366K	$372K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.190	+0.024%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.184	−0.022%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0461%	8h	13.194	+0.054%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0503%	1h	13.187	+0.001%	$7.0M	$7.9M	50x	as long as short