Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.031%

Price spread now: dYdX against Gate+0.099%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1921.920% of the position

Long on Gate Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.329%+$33 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.099%, 7d avg +0.022%

Together, before fees+0.291%+$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.077% dearer against Gate than usual: you sell high and buy low (spread +0.099% now, against its 7-day average of +0.022%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 13 days. Mind the row above: over the last 7 days funding on this pair paid +0.329%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	12.993	0.0100	pay 0.0100% / 8h	6h 55m	$128.8M	$12.1M	75x
Short	dYdX LINK-USD	13.006	0.0080	get 0.0010% / 1h	55m 22s	$344K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.099%Rate

Funding earned: −$4.15
Price spread: +0.099% → +0.022%: $7.73
Slippage, 4 orders: −$166.96
Fee Gate: 7.5 bp × 2 orders: −$15
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$188.38
Costs to cover: 1.920%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; dYdX: live order book, 14 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, 4 min ago	1.92 bp	13.8 bp −$14	26.0 bp −$260	47.0 bp −$4,701	90.9 bp −$45.4K
Sell dYdX live order book, 14 min ago	46.74 bp	110.7 bp −$111	166.9 bp −$1,669	181.6 bp −$18.2K	366.3 bp −$183.1K

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
ApeX Omni LINKUSDT	−0.0265%	1h	13.058	+0.500%	$152K	$670K	50x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0167%	1h	12.993	−0.003%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.042	+0.374%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.013	+0.155%	$773K	$212K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	12.996	+0.024%	$131K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.564%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.056	+0.487%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0071%	8h	12.992	−0.008%	$128K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.016	+0.177%	$997K	$2.7M	50x	as long as short
dYdX LINK-USDshort	+0.0080%	1h	13.006	+0.099%	$344K	$48K	10x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter LINK	+0.0096%	1h	12.998	+0.040%	$1.9M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.088	+0.729%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.995	+0.015%	$397K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.003	+0.074%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.005	+0.094%	$273K	$156K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.995	+0.015%	$120.8M	$299.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.993	0.000%	$83.8M	$71.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.995	+0.015%	$27.3M	$83.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.019	+0.200%	$182K	$167K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	12.993	long leg	$128.8M	$12.1M	75x
MEXC LINK_USDT	+0.0100%	8h	12.994	+0.008%	$34.5M	$56.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.996	+0.023%	$22.5M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.992	−0.008%	$53.9M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.998	+0.038%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.008	+0.115%	$349K	$383K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.000	+0.058%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.054	+0.472%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.040	+0.362%	$587K	$2.6M	10x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.998	+0.038%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.006	+0.097%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.020	+0.207%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.007	+0.108%	$18K	$34K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.002	+0.073%	$642K	$869K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.999	+0.050%	$660K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.999	+0.047%	$545K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.037	+0.339%	$5.3M	$15.2M	75x	as long as short
Reya LINKRUSDPERP	+0.0383%	1h	12.991	−0.015%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0501%	1h	13.014	+0.159%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0650%	8h	13.023	+0.231%	$20.1M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0812%	1h	13.013	+0.154%	$83.5M	$27.5M	10x	as long as short