Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.027%

Price spread now: dYdX against HTX+0.047%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$275as in the Funding arb table

Net, price: spread back to 7d avg − costs−$303as in the Price arb table

costs, in and out, $10k−$2992.992% of the position

Long on HTX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.238%+$24 on $10k

Price spread, last 3 days (all we have)−0.029%−$3 · spread now +0.047%, 7d avg +0.083%

Together, before fees+0.209%+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.036% cheaper against HTX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.083%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.238%, 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	HTX LINK-USDT	13.078	0.0100	pay 0.0100% / 8h	2h 52m	$640K	$905K	75x
Short	dYdX LINK-USD	13.084	0	get 0.0000% / 1h	52m 06s	$347K	$60K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$21
Price spread: +0.047% → +0.083%: −$3.61
Slippage, 4 orders: −$277.21
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$323.82
Costs to cover: 2.992%
Break-even: never at this rate

Slippage from HTX: live order book, 36 min ago; dYdX: live order book, 37 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, 36 min ago	5.79 bp	13.3 bp −$13	34.0 bp −$340	doesn't fit	doesn't fit
Sell dYdX live order book, 37 min ago	122.65 bp	127.6 bp −$128	169.7 bp −$1,697	180.2 bp −$18.0K	211.7 bp −$105.8K

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 +0.0166%	1h	13.086	+0.059%	$1.7M	—	200x	as long as short
dYdX LINK-USDshort	0.0000%	1h	13.084	+0.047%	$347K	$60K	10x
Kalshi KXLINKPERP	0.0000%	8h	13.080	+0.017%	$455K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.081	+0.021%	$697K	$107K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.087	+0.070%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.127	+0.379%	$3K	$84K	10x	as long as short
Variational Omni LINK	+0.0031%	8h	13.109	+0.241%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.184%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	13.069	−0.068%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.079	+0.012%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.076	−0.011%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.078	+0.001%	$399K	$316K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.086	+0.062%	$77.9M	$23.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.083	+0.039%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.081	+0.024%	$274K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.073	−0.035%	$120.9M	$300.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.072	−0.045%	$84.3M	$69.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.072	−0.045%	$27.6M	$84.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.101	+0.177%	$184K	$170K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.076	−0.015%	$130.4M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.073	−0.037%	$35.5M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.078	+0.001%	$21.7M	$16.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.073	−0.037%	$54.1M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.073	−0.037%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.082	+0.031%	$362K	$370K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.117	+0.297%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.133	+0.421%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.109	+0.238%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.082	+0.031%	$79K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.074	−0.029%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.094	+0.126%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.075	−0.022%	$5K	$40K	10x	as long as short
HTX LINK-USDTlong	+0.0100%	8h	13.078	long leg	$640K	$905K	75x
Extended LINK-USD	+0.0104%	1h	13.074	−0.028%	$665K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.078	+0.004%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.084	+0.047%	$987K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.090	+0.093%	$5.2M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.080	+0.019%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0507%	1h	13.084	+0.044%	$6.9M	$7.7M	50x	as long as short
Phemex LINKUSDT	+0.0511%	8h	13.092	+0.108%	$20.2M	$11.5M	50x	as long as short