LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.03 per $10,000 · paid last 24h −0.057%

Price spread now: Coinbase International against Hyperliquid−0.038%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on Hyperliquid Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 3 days (all we have)+0.033%+$3 · spread now −0.038%, 7d avg −0.067%

Together, before fees−0.058%+ Points / potential airdropHyperliquid: Season 2 · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.030% dearer against Hyperliquid than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.067%. Mind the row above: over the last 7 days funding on this pair cost −0.091%, 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	Hyperliquid LINK	13.213	0.0100	pay 0.0013% / 1h	2m 49s	$78.1M	$24.1M	10x
Short	Coinbase International LINK-PERP-INTX	13.208	0.0120	get 0.0015% / 1h	2m 49s	$994K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.038%Rate

Funding earned: $4.2
Price spread: −0.038% → −0.067%: $2.95
Slippage, 4 orders: −$18.09
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$29.94
Costs to cover: 0.371%
Break-even: 56.9 days

Slippage from Hyperliquid: live order book, 11 min ago; Coinbase International: live order book, 1 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, 11 min ago	0.38 bp	5.2 bp −$5	10.7 bp −$107	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	3.03 bp	12.6 bp −$13	16.2 bp −$162	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 −0.0090% / S +0.0167%	1h	13.199	−0.102%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.221	+0.061%	$493K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.203	−0.077%	$724K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.200	−0.101%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.153%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.192	−0.157%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.196	−0.129%	$134K	$1.5M	20x	as long as short
dYdX LINK-USD	+0.0049%	1h	13.215	+0.012%	$350K	$48K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.202	−0.087%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.212	−0.010%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.198	−0.110%	$404K	$313K	10x	as long as short
Hyperliquid LINKlong	+0.0100%	1h	13.213	long leg	$78.1M	$24.1M	10x
Aster LINKUSDT	+0.0100%	8h	13.200	−0.096%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.215	+0.013%	$277K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.196	−0.132%	$122.7M	$303.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.194	−0.144%	$85.2M	$70.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.197	−0.121%	$27.8M	$86.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.227	+0.106%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.194	−0.144%	$130.7M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.197	−0.121%	$36.4M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.198	−0.114%	$22.7M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.195	−0.136%	$54.9M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.195	−0.136%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.189	−0.184%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.193	−0.153%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.198	−0.113%	$595K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.188	−0.189%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.202	−0.083%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.195	−0.135%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.216	+0.025%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.200	−0.098%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.196	−0.130%	$649K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.195	−0.137%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.203	−0.078%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0120%	1h	13.208	−0.038%	$994K	$2.8M	50x
BloFin LINK-USDT	+0.0220%	8h	13.206	−0.053%	$5.3M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0222%	1h	13.206	−0.053%	$364K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.199	−0.107%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0463%	8h	13.213	0.000%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0692%	1h	13.207	−0.043%	$7.0M	$8.1M	50x	as long as short