LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0399%/8h= −43.7% APRnext payment −$0.50 per $10,000 · paid last 24h −0.052%

Price spread now: Arcus against Hyperliquid+0.023%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$450.452% of the position

Long on Hyperliquid Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.055%−$6 on $10k

Price spread, last 4 days (all we have)−0.094%−$9 · spread now +0.023%, 7d avg −0.023%

Together, before fees−0.150%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.046% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.023% now, against its 7-day average of −0.023%): +$5 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 3 days (−0.055% in total) that is about 2.9 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.055% in total (about -5.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.50 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LINK	12.998	0.0499	pay 0.0062% / 1h	51m 24s	$79.8M	$29.6M	10x
Short	Arcus LINK-USD	13.001	0.0100	get 0.0013% / 1h	51m 24s	$182K	$168K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Hyperliquid. 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 HyperliquidbpFee ArcusbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$83.73
Price spread: +0.023% → −0.023%: $4.57
Slippage, 4 orders: −$31.74
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$124.4
Costs to cover: 0.452%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Arcus: live order book, 17 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 Hyperliquid live order book, 12 min ago	0.38 bp	9.6 bp −$10	15.4 bp −$154	doesn't fit	doesn't fit
Sell Arcus live order book, 17 min ago	8.71 bp	11.0 bp −$11	19.1 bp −$191	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 −0.0091% / S +0.0167%	1h	12.986	−0.091%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.992	−0.046%	$462K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.993	−0.038%	$150K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.601%	$4K	$48K	12x	as long as short
dYdX LINK-USD	+0.0040%	1h	12.984	−0.105%	$344K	$48K	10x	as long as short
Phoenix LINK	+0.0049%	1h	12.998	−0.004%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0070%	8h	12.993	−0.038%	$124K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.003	+0.038%	$955K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0073%	1h	12.994	−0.032%	$772K	$212K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.980	−0.139%	$1.9M	$2.7M	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	+0.0099%	8h	13.038	+0.310%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.979	−0.142%	$392K	$310K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.988	−0.079%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.981	−0.129%	$272K	$156K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.995	−0.020%	$120.8M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.994	−0.031%	$83.7M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.997	−0.008%	$27.3M	$83.8M	50x	as long as short
Arcus LINK-USDshort	+0.0100%	1h	13.001	+0.023%	$182K	$168K	10x
Gate LINK_USDT	+0.0100%	8h	12.985	−0.100%	$128.6M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.990	−0.062%	$35.8M	$57.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.992	−0.046%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.982	−0.123%	$53.7M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.995	−0.023%	—	$22.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.004	+0.046%	$342K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.000	+0.019%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.980	−0.137%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.984	−0.111%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.985	−0.100%	$134K	$681K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.989	−0.069%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.986	−0.094%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.004	+0.044%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.992	−0.046%	$24K	$37K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.982	−0.121%	$640K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.980	−0.141%	$660K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.990	−0.060%	$545K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.978	−0.154%	$5.3M	$15.5M	75x	as long as short
Reya LINKRUSDPERP	+0.0383%	1h	12.982	−0.123%	$4K	—	20x	as long as short
Hyperliquid LINKlong	+0.0499%	1h	12.998	long leg	$79.8M	$29.6M	10x
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.998	−0.002%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0671%	8h	13.012	+0.108%	$20.1M	$11.5M	50x	as long as short