Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h −0.026%

Price spread now: Deribit against edgeX−0.026%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 4 days (all we have)+0.236%+$24 · spread now −0.026%, 7d avg +0.024%

Together, before fees+0.003%+ Points / potential airdropedgeX: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Deribit is 0.050% cheaper against edgeX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.024%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX LINKUSDC	12.951	0.0100	pay 0.0050% / 4h	53m 03s	$43K	$305K	20x
Short	Deribit LINK_USDC-PERPETUAL	12.947	0.0051	get 0.0006% / 1h	53m 03s	$773K	$189K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against edgeX. 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 edgeXbpFee DeribitbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$10.29
Price spread: −0.026% → +0.024%: −$5.04
Slippage, 4 orders: −$14.68
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$46.01
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Deribit: live order book, 6 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 edgeX live order book, 5 min ago	1.94 bp	8.0 bp −$8	10.9 bp −$109	doesn't fit	doesn't fit
Sell Deribit live order book, 6 min ago	4.64 bp	8.1 bp −$8	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	12.942	−0.066%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.950	−0.010%	$489K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.943	−0.064%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.254%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0051%	1h	12.947	−0.026%	$773K	$189K	50x
Orderly PERP_LINK_USDC	+0.0061%	8h	12.942	−0.069%	$117K	$1.4M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.940	−0.083%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.954	+0.024%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.920	−0.240%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.942	−0.071%	$31K	$2K	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	12.943	−0.065%	$391K	$310K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.949	−0.014%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.946	−0.039%	$273K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.943	−0.064%	$119.8M	$297.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.935	−0.123%	$83.5M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.938	−0.100%	$27.3M	$81.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.959	+0.062%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.938	−0.100%	$127.8M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.941	−0.077%	$32.3M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.943	−0.061%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.939	−0.092%	$53.8M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.939	−0.092%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.956	+0.042%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	12.951	long leg	$43K	$305K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	12.944	−0.053%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.911	−0.308%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.949	−0.015%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.944	−0.052%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.957	+0.044%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.943	−0.061%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.933	−0.138%	$633K	$703K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.942	−0.072%	$637K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.944	−0.054%	$543K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0137%	1h	12.947	−0.030%	$339K	$388K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.937	−0.107%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.941	−0.077%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0395%	1h	12.945	−0.045%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0445%	1h	12.957	+0.047%	$81.5M	$27.2M	10x	as long as short
dYdX LINK-USD	+0.0483%	1h	12.949	−0.017%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0611%	8h	12.956	+0.039%	$20.0M	$11.4M	50x	as long as short