Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.024%

Price spread now: SunX against dYdX+0.154%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$322as in the Funding arb table

Net, price: spread back to 7d avg − costs−$292as in the Price arb table

costs, in and out, $10k−$2992.986% of the position

Long on dYdX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.236%−$24 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now +0.154%, 7d avg +0.091%

Together, before fees−0.255%−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and SunX is 0.064% dearer against dYdX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.091%. Mind the row above: over the last 7 days funding on this pair cost −0.236%, 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	13.172	0	get 0.0000% / 1h	22m 13s	$349K	$48K	10x
Short	SunX LINK-USDT	13.192	0.0100	get 0.0100% / 8h	1h 22m	$34K	$1.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.154%Rate

Funding earned: $21
Price spread: +0.154% → +0.091%: $6.38
Slippage, 4 orders: −$280.59
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$271.21
Costs to cover: 2.986%
Break-even: 97.4 days

Slippage from dYdX: live order book, 62 min ago; SunX: 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, 62 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 SunX live order book, 3 min ago	13.66 bp	19.2 bp −$19	doesn't fit	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	13.181	+0.071%	$1.8M	—	200x	as long as short
dYdX LINK-USDlong	0.0000%	1h	13.172	long leg	$349K	$48K	10x
Kalshi KXLINKPERP	0.0000%	8h	13.179	+0.053%	$460K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.193	+0.156%	$720K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.183	+0.083%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.861%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.138	−0.256%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.185	+0.098%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.194	+0.169%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.172	0.000%	$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	13.175	+0.022%	$403K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.190	+0.136%	$77.8M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.184	+0.092%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.171	−0.008%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.190	+0.138%	$122.5M	$303.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.190	+0.136%	$85.2M	$70.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.193	+0.159%	$27.7M	$86.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.188	+0.121%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.181	+0.068%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.189	+0.128%	$37.1M	$56.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.191	+0.144%	$22.5M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.185	+0.098%	$54.9M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.183	+0.083%	—	$21.5M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.119	−0.404%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.123	−0.372%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.134	−0.287%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.133	−0.297%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.179	+0.053%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.183	+0.086%	$16K	$22K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	13.192	+0.154%	$34K	$1.6M	30x
SoDEX LINK-USD	+0.0100%	1h	13.187	+0.113%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.164	−0.063%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.184	+0.090%	$675K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.189	+0.127%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.190	+0.136%	$994K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0204%	1h	13.166	−0.046%	$365K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.150	−0.168%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.174	+0.018%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0469%	8h	13.201	+0.220%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0693%	1h	13.194	+0.163%	$7.0M	$8.1M	50x	as long as short