Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0364%/8h= −39.9% APRpaid last 24h −0.030%

Price spread now: HTX against dYdX−0.083%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1651.652% of the position

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.264%−$26 on $10k

Price spread, last 4 days (all we have)+0.085%+$8 · spread now −0.083%, 7d avg −0.086%

Together, before fees−0.179%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.086%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	12.955	0.0464	pay 0.0058% / 1h	26m 29s	$343K	$30K	10x
Short	HTX LINK-USDT	12.944	0.0100	get 0.0100% / 8h	4h 26m	$635K	$694K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.083%Rate

Funding earned: −$76.43
Price spread: −0.083% → −0.086%: $0.32
Slippage, 4 orders: −$143.15
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$241.27
Costs to cover: 1.652%
Break-even: never at this rate

Slippage from dYdX: live order book, 33 min ago; HTX: live order book, 32 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, 33 min ago	46.47 bp	51.5 bp −$51	51.5 bp −$515	180.5 bp −$18.0K	598.1 bp −$299.0K
Sell HTX live order book, 32 min ago	21.58 bp	34.5 bp −$35	199.6 bp −$1,996	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 −0.0090% / S +0.0167%	1h	12.953	−0.012%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.964	+0.069%	$525K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.957	+0.015%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.283%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0058%	8h	12.957	+0.016%	$117K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.956	+0.011%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.966	+0.086%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.988	+0.257%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.955	0.000%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.959	+0.034%	$392K	$310K	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	12.958	+0.024%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.959	+0.033%	$274K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.957	+0.016%	$119.8M	$297.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.954	−0.007%	$83.5M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.959	+0.032%	$27.3M	$81.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.971	+0.125%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.954	−0.007%	$128.1M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.956	+0.009%	$32.9M	$56.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.959	+0.032%	$22.7M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.956	+0.009%	$53.9M	$29.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.956	+0.009%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.968	+0.101%	$339K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.949	−0.043%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.951	−0.029%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.963	+0.061%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.991	+0.279%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.964	+0.070%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.957	+0.014%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.966	+0.084%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.964	+0.070%	$11K	$63K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	12.944	−0.083%	$635K	$694K	75x
Extended LINK-USD	+0.0104%	1h	12.948	−0.051%	$632K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.963	+0.067%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0182%	1h	12.968	+0.104%	$777K	$200K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.958	+0.024%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0362%	1h	12.974	+0.148%	$81.2M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.956	+0.012%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.969	+0.111%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USDlong	+0.0464%	1h	12.955	long leg	$343K	$30K	10x
Phemex LINKUSDT	+0.0530%	8h	12.979	+0.186%	$20.0M	$11.4M	50x	as long as short