LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0073%/8h= +8.0% APRnext payment +$0.09 per $10,000 · paid last 24h +0.028%

Price spread now: Hyperliquid against dYdX+0.157%7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$200as in the Funding arb table

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$1781.778% of the position

Long on dYdX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.227%−$23 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.157%, 7d avg +0.079%

Together, before fees−0.318%+ Points / potential airdropHyperliquid: Season 2 · farm board−$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.079% dearer against dYdX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.079%. Mind the row above: over the last 7 days funding on this pair cost −0.227%, 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	12.987	0.0390	pay 0.0049% / 1h	11m 03s	$344K	$35K	10x
Short	Hyperliquid LINK	13.007	0.0463	get 0.0058% / 1h	11m 03s	$80.7M	$26.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.157%Rate

Funding earned: $15.29
Price spread: +0.157% → +0.079%: $7.87
Slippage, 4 orders: −$158.78
Fee dYdX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$154.62
Costs to cover: 1.778%
Break-even: 77.8 days

Slippage from dYdX: live order book, 58 min ago; Hyperliquid: live order book, 13 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, 58 min ago	46.74 bp	51.7 bp −$52	54.4 bp −$544	60.9 bp −$6,088	282.5 bp −$141.3K
Sell Hyperliquid live order book, 13 min ago	0.38 bp	5.1 bp −$5	8.1 bp −$81	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	12.982	−0.036%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.996	+0.070%	$475K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.982	−0.038%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.517%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.005	+0.139%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.985	−0.012%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.993	+0.050%	$952K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.992	+0.042%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.984	−0.019%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.981	−0.039%	$395K	$319K	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	12.992	+0.042%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.987	+0.007%	$275K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.985	−0.012%	$119.4M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.981	−0.043%	$83.8M	$72.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.982	−0.035%	$27.4M	$84.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.003	+0.127%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.988	+0.011%	$128.1M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.992	+0.042%	$33.1M	$59.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.993	+0.050%	$23.0M	$14.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.981	−0.043%	$53.9M	$30.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.989	+0.019%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.979	−0.056%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.991	+0.037%	$43K	$311K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.991	+0.036%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.989	+0.019%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.988	+0.011%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.989	+0.016%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.993	+0.049%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.992	+0.042%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.919	−0.522%	$637K	$857K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.987	+0.003%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.992	+0.038%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0127%	1h	12.996	+0.073%	$338K	$383K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0150%	1h	12.993	+0.051%	$772K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	12.980	−0.051%	$4K	—	20x	as long as short
dYdX LINK-USDlong	+0.0390%	1h	12.987	long leg	$344K	$35K	10x
Hyperliquid LINKshort	+0.0463%	1h	13.007	+0.157%	$80.7M	$26.6M	10x
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.996	+0.075%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0613%	8h	13.008	+0.165%	$20.1M	$11.5M	50x	as long as short