Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.015%

Price spread now: Derive against GRVT−0.194%73s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.194% cheaper against GRVT than usual: you would sell low and buy high, −$19 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 73 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	GRVT LINK_USDT_Perp	13.119	0.0100	pay 0.0100% / 8h	11m 52s	$593K	$2.7M	10x
Short	Derive LINK-PERP	13.094	0.0100	get 0.0013% / 1h	11m 52s	$16K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against GRVT. 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 GRVTbpFee DerivebpOrdersPrice spread, now −0.194%Rate

Funding earned: $0
Price spread: −0.194% → 0.000%: −$19.43
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Derive: 3 bp × 2 orders: −$6
Net: −$34.43
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 2 min ago; Derive: no order-book sample. Net counts fees only.

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 GRVT live order book, 2 min ago	0.76 bp	6.1 bp −$6	15.3 bp −$153	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0091% / S +0.0167%	1h	13.103	−0.123%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.112	−0.053%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.100	−0.147%	$725K	$139K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.103	−0.126%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.108	−0.081%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.482%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.096	−0.177%	$132K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.095	−0.187%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.101	−0.141%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.105	−0.108%	$400K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.103	−0.120%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.108	−0.088%	$276K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.091	−0.216%	$121.6M	$304.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.092	−0.207%	$84.3M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.092	−0.207%	$27.6M	$85.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.118	−0.009%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.098	−0.161%	$129.9M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.100	−0.146%	$36.1M	$58.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.102	−0.131%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.088	−0.238%	$54.5M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.093	−0.199%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.125	+0.041%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.113	−0.050%	$43K	$310K	20x	as long as short
GRVT LINK_USDT_Perplong	+0.0100%	8h	13.119	long leg	$593K	$2.7M	10x
ApeX Omni LINKUSDT	+0.0100%	1h	13.114	−0.039%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.106	−0.100%	$81K	$69K	10x	as long as short
Derive LINK-PERPshort	+0.0100%	1h	13.094	−0.194%	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	13.110	−0.070%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.095	−0.184%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.090	−0.222%	$644K	$880K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.096	−0.176%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.098	−0.162%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.125	+0.045%	$994K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0214%	1h	13.107	−0.093%	$362K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.108	−0.085%	$5.2M	$16.8M	75x	as long as short
Hyperliquid LINK	+0.0292%	1h	13.112	−0.055%	$77.8M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.101	−0.140%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.102	−0.133%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0487%	8h	13.112	−0.055%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0544%	1h	13.102	−0.132%	$347K	$48K	10x	as long as short