Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h −0.021%

Price spread now: Deribit against HTX+0.392%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$810.812% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.223%−$22 on $10k

Price spread, last 4 days (all we have)−0.287%−$29 · spread now +0.392%, 7d avg +0.081%

Together, before fees−0.510%−$51 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Deribit is 0.310% dearer against HTX than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of +0.081%. Mind the row above: over the last 7 days funding on this pair cost −0.223%, 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	HTX LINK-USDT	12.790	0.0100	pay 0.0100% / 8h	2h 39m	$628K	$678K	75x
Short	Deribit LINK_USDC-PERPETUAL	12.840	0.0155	get 0.0019% / 1h	39m 08s	$785K	$231K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now +0.392%Rate

Funding earned: $11.55
Price spread: +0.392% → +0.081%: $31.03
Slippage, 4 orders: −$62.2
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$38.62
Costs to cover: 0.812%
Break-even: 30.4 days

Slippage from HTX: live order book, 9 min ago; Deribit: live order book, 10 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 HTX live order book, 9 min ago	17.45 bp	29.8 bp −$30	95.1 bp −$951	doesn't fit	doesn't fit
Sell Deribit live order book, 10 min ago	4.25 bp	11.6 bp −$12	16.9 bp −$169	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 −0.0089% / S +0.0166%	1h	12.832	+0.331%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.833	+0.338%	$499K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.835	+0.351%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.050%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0051%	8h	12.825	+0.273%	$98K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.879	+0.696%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.830	+0.314%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.825	+0.272%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.822	+0.249%	$342K	$342K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.833	+0.335%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.828	+0.299%	$273K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.831	+0.323%	$118.5M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.824	+0.265%	$82.7M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.828	+0.296%	$27.1M	$80.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.844	+0.421%	$179K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.824	+0.265%	$123.6M	$14.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.834	+0.343%	$32.8M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.834	+0.343%	$22.6M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.833	+0.335%	$53.6M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.833	+0.335%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.840	+0.390%	$336K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.841	+0.401%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.882	+0.720%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.847	+0.446%	$574K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.859	+0.539%	$131K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.831	+0.320%	$80K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.833	+0.336%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.848	+0.456%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.830	+0.312%	$10K	$64K	10x	as long as short
HTX LINK-USDTlong	+0.0100%	8h	12.790	long leg	$628K	$678K	75x
Extended LINK-USD	+0.0104%	1h	12.828	+0.298%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.838	+0.371%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.837	+0.367%	$914K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0155%	1h	12.840	+0.392%	$785K	$231K	50x
BloFin LINK-USDT	+0.0220%	8h	12.838	+0.375%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0241%	1h	12.842	+0.406%	$80.0M	$27.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0279%	1h	12.834	+0.341%	$6.6M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0395%	1h	12.827	+0.290%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0589%	8h	12.842	+0.406%	$19.8M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0977%	1h	12.829	+0.301%	$342K	$33K	10x	as long as short