LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0360%/8h= +39.5% APRnext payment +$0.45 per $10,000 · paid last 24h −0.019%

Price spread now: dYdX against Hyperliquid−0.074%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$960.962% of the position

Long on Hyperliquid Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.237%+$24 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.074%, 7d avg −0.081%

Together, before fees+0.266%+ Points / potential airdropHyperliquid: Season 2 · farm board+$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.081%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.237% in total (about 12.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.45 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	12.959	0.0248	pay 0.0031% / 1h	0m 38s	$80.8M	$27.7M	10x
Short	dYdX LINK-USD	12.949	0.0608	get 0.0076% / 1h	0m 38s	$345K	$33K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.074%Rate

Funding earned: $75.7
Price spread: −0.074% → −0.081%: $0.7
Slippage, 4 orders: −$77.24
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$19.84
Costs to cover: 0.962%
Break-even: 8.8 days

Slippage from Hyperliquid: live order book, 3 min ago; dYdX: live order book, 48 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, 3 min ago	0.77 bp	6.4 bp −$6	10.7 bp −$107	doesn't fit	doesn't fit
Sell dYdX live order book, 48 min ago	36.55 bp	41.7 bp −$42	163.2 bp −$1,632	177.3 bp −$17.7K	224.9 bp −$112.4K

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	12.949	−0.075%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.958	−0.011%	$526K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.950	−0.070%	$157K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0022%	8h	12.944	−0.116%	$95K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.314%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.958	−0.006%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.945	−0.108%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.942	−0.127%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.950	−0.066%	$347K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.947	−0.092%	$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	12.947	−0.096%	$276K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.946	−0.100%	$119.4M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.941	−0.139%	$83.5M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.945	−0.108%	$27.0M	$81.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.960	+0.008%	$181K	$95K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.941	−0.139%	$124.5M	$15.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.945	−0.108%	$32.9M	$58.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.948	−0.085%	$22.8M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.941	−0.139%	$54.1M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.944	−0.116%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.945	−0.107%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.953	−0.043%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.958	−0.005%	$590K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.970	+0.085%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.955	−0.031%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.951	−0.065%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.965	+0.049%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.953	−0.046%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.939	−0.154%	$634K	$786K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.935	−0.183%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.954	−0.039%	$543K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.961	+0.015%	$936K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0135%	1h	12.958	−0.008%	$338K	$390K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.952	−0.054%	$5.2M	$15.9M	75x	as long as short
Hyperliquid LINKlong	+0.0248%	1h	12.959	long leg	$80.8M	$27.7M	10x
Kraken Futures PF_LINKUSD	+0.0276%	1h	12.956	−0.020%	$6.7M	$8.3M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0283%	1h	12.958	−0.005%	$808K	$254K	50x	as long as short
Reya LINKRUSDPERP	+0.0396%	1h	12.949	−0.078%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0576%	8h	12.969	+0.077%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USDshort	+0.0608%	1h	12.949	−0.074%	$345K	$33K	10x