Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0350%/8h= −38.4% APRpaid last 24h −0.030%

Price spread now: KuCoin against dYdX+0.094%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1321.318% of the position

Long on dYdX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.345%−$34 on $10k

Price spread, last 4 days (all we have)−0.137%−$14 · spread now +0.094%, 7d avg −0.012%

Together, before fees−0.482%−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.106% dearer against dYdX than usual: you sell high and buy low (spread +0.094% now, against its 7-day average of −0.012%): +$11 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 7 days (−0.345% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	12.966	0.0450	pay 0.0056% / 1h	25m 24s	$343K	$30K	10x
Short	KuCoin LINKUSDTM	12.978	0.0100	get 0.0100% / 8h	4h 25m	$22.7M	$13.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.094%Rate

Funding earned: −$73.57
Price spread: +0.094% → −0.012%: $10.65
Slippage, 4 orders: −$109.76
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$194.68
Costs to cover: 1.318%
Break-even: never at this rate

Slippage from dYdX: live order book, 34 min ago; KuCoin: 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, 34 min ago	46.47 bp	51.5 bp −$51	51.5 bp −$515	180.5 bp −$18.0K	598.1 bp −$299.0K
Sell KuCoin live order book, 3 min ago	1.54 bp	13.7 bp −$14	21.7 bp −$217	64.0 bp −$6,402	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	−0.096%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.956	−0.074%	$519K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.970	+0.030%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.364%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0058%	8h	12.957	−0.068%	$117K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.965	−0.007%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.971	+0.040%	$944K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.988	+0.172%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.964	−0.011%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.976	+0.079%	$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	12.962	−0.027%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.970	+0.033%	$274K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.977	+0.090%	$120.0M	$297.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.975	+0.071%	$83.7M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.972	+0.048%	$27.4M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.988	+0.171%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.969	+0.025%	$128.3M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.975	+0.071%	$33.1M	$56.6M	300x	as long as short
KuCoin LINKUSDTMshort	+0.0100%	8h	12.978	+0.094%	$22.7M	$13.5M	75x
Bitget LINKUSDT	+0.0100%	8h	12.977	+0.087%	$53.9M	$29.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.973	+0.056%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.971	+0.040%	$339K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.954	−0.090%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.958	−0.062%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.967	+0.010%	$581K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.965	−0.006%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.985	+0.148%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.957	−0.065%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.971	+0.039%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.964	−0.014%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.905	−0.469%	$633K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.971	+0.039%	$632K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.963	−0.017%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0190%	1h	12.966	−0.001%	$777K	$200K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.958	−0.060%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0365%	1h	12.990	+0.187%	$81.3M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.970	+0.031%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.968	+0.018%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USDlong	+0.0450%	1h	12.966	long leg	$343K	$30K	10x
Phemex LINKUSDT	+0.0531%	8h	12.971	+0.040%	$20.0M	$11.4M	50x	as long as short