Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.029%

Price spread now: MEXC against dYdX−0.045%47s7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$293as 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−$2632.625% of the position

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.302%−$30 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.045%, 7d avg −0.011%

Together, before fees−0.269%−$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.034% cheaper against dYdX than usual: you would sell low and buy high (spread −0.045% now, against its 7-day average of −0.011%). If the spread goes back, that is −$3 on $10k: about 27 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.302%, so the current rate has only just turned in your favour. The two prices were read 47 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	13.172	0	get 0.0000% / 1h	37m 55s	$349K	$60K	10x
Short	MEXC LINK_USDT	13.166	0.0100	get 0.0100% / 8h	1h 37m	$36.7M	$56.2M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.045%Rate

Funding earned: $21
Price spread: −0.045% → −0.011%: −$3.41
Slippage, 4 orders: −$252.51
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$244.91
Costs to cover: 2.625%
Break-even: 88.6 days

Slippage from dYdX: live order book, 46 min ago; MEXC: live order book, 1 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, 46 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 MEXC live order book, 1 min ago	0.38 bp	0.6 bp −$1	3.8 bp −$38	23.3 bp −$2,327	44.0 bp −$22.0K

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	13.185	+0.097%	$1.8M	—	200x	as long as short
dYdX LINK-USDlong	0.0000%	1h	13.172	long leg	$349K	$60K	10x
Kalshi KXLINKPERP	0.0000%	8h	13.184	+0.093%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.188	+0.122%	$720K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.185	+0.096%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.860%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.208	+0.277%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.182	+0.077%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.174	+0.018%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.171	−0.004%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.181	+0.073%	$400K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.174	+0.016%	$77.7M	$23.8M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.170	−0.017%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.173	+0.008%	$276K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.164	−0.061%	$122.2M	$302.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.164	−0.060%	$84.8M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.164	−0.060%	$27.7M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.192	+0.153%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.164	−0.060%	$130.7M	$12.6M	75x	as long as short
MEXC LINK_USDTshort	+0.0100%	8h	13.166	−0.045%	$36.7M	$56.2M	300x
KuCoin LINKUSDTM	+0.0100%	8h	13.167	−0.037%	$22.2M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.160	−0.090%	$54.8M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.165	−0.052%	—	$21.5M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.205	+0.251%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.200	+0.212%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.198	+0.200%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.206	+0.259%	$154K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.186	+0.107%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.182	+0.076%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.189	+0.131%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.172	+0.001%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.159	−0.095%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.164	−0.063%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.173	+0.005%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.183	+0.084%	$995K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0181%	1h	13.181	+0.069%	$365K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.183	+0.084%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.182	+0.077%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0459%	8h	13.182	+0.077%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0694%	1h	13.178	+0.047%	$7.0M	$8.0M	50x	as long as short