Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.020%

Price spread now: Deribit against Gate+0.071%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$460.463% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.150%−$15 on $10k

Price spread, last 3 days (all we have)−0.032%−$3 · spread now +0.071%, 7d avg +0.013%

Together, before fees−0.182%−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.057% dearer against Gate than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.013%. Mind the row above: over the last 7 days funding on this pair cost −0.150%, 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	Gate LINK_USDT	12.984	0.0100	pay 0.0100% / 8h	6h 10m	$128.0M	$12.9M	75x
Short	Deribit LINK_USDC-PERPETUAL	12.993	0.0150	get 0.0019% / 1h	10m 44s	$772K	$212K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now +0.071%Rate

Funding earned: $10.5
Price spread: +0.071% → +0.013%: $5.74
Slippage, 4 orders: −$24.34
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$30.1
Costs to cover: 0.463%
Break-even: 27.1 days

Slippage from Gate: live order book, 3 min ago; Deribit: live order book, 58 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 Gate live order book, 3 min ago	0.38 bp	17.1 bp −$17	23.7 bp −$237	34.8 bp −$3,483	76.0 bp −$38.0K
Sell Deribit live order book, 58 min ago	3.04 bp	10.2 bp −$10	16.3 bp −$163	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	−0.016%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.996	+0.090%	$475K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.982	−0.018%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.498%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.005	+0.159%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.985	+0.008%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.993	+0.069%	$952K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.977	−0.053%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.981	−0.022%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.981	−0.019%	$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	12.987	+0.020%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.978	−0.043%	$275K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.977	−0.053%	$119.3M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.973	−0.085%	$83.7M	$72.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.975	−0.069%	$27.3M	$83.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.996	+0.092%	$182K	$165K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	12.984	long leg	$128.0M	$12.9M	75x
MEXC LINK_USDT	+0.0100%	8h	12.977	−0.054%	$33.1M	$59.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.991	+0.054%	$23.0M	$14.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.978	−0.046%	$53.9M	$30.8M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.976	−0.062%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.979	−0.037%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.991	+0.056%	$43K	$311K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.991	+0.056%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.989	+0.039%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.988	+0.031%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.989	+0.036%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.993	+0.069%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.992	+0.062%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.919	−0.502%	$637K	$857K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.971	−0.098%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.992	+0.058%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0127%	1h	12.996	+0.092%	$338K	$383K	15x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0150%	1h	12.993	+0.071%	$772K	$212K	50x
Reya LINKRUSDPERP	+0.0385%	1h	12.980	−0.032%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0410%	1h	12.976	−0.063%	$344K	$35K	10x	as long as short
Hyperliquid LINK	+0.0463%	1h	13.001	+0.131%	$80.7M	$26.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.996	+0.094%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0613%	8h	13.008	+0.185%	$20.1M	$11.5M	50x	as long as short