LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0026%/8h= −2.8% APRnext payment −$0.03 per $10,000 · paid last 24h −0.064%

Price spread now: Extended against Hyperliquid−0.148%7-day average −0.141% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Hyperliquid Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.148%, 7d avg −0.141%

Together, before fees−0.059%+ Points / potential airdropHyperliquid: Season 2 · Extended: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.141%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LINK	13.141	0.0130	pay 0.0016% / 1h	57m 51s	$77.4M	$23.6M	10x
Short	Extended LINK-USD	13.121	0.0104	get 0.0013% / 1h	57m 51s	$667K	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.148%Rate

Funding earned: −$5.36
Price spread: −0.148% → −0.141%: −$0.74
Slippage, 4 orders: −$10.65
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$30.75
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Extended: 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, 6 min ago	0.38 bp	6.4 bp −$6	10.7 bp −$107	doesn't fit	doesn't fit
Sell Extended live order book, 1 min ago	2.29 bp	6.1 bp −$6	7.6 bp −$76	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	13.124	−0.129%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.131	−0.077%	$348K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.136	−0.037%	$470K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.118	−0.174%	$716K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.125	−0.122%	$133K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.132	−0.065%	$3K	$78K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.639%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.116	−0.190%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.122	−0.148%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.130	−0.086%	$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	13.127	−0.107%	$399K	$317K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.122	−0.146%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.134	−0.052%	$275K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.121	−0.152%	$121.6M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.127	−0.107%	$84.6M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.134	−0.053%	$27.6M	$85.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.145	+0.030%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.118	−0.175%	$130.2M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.122	−0.145%	$36.5M	$55.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.122	−0.145%	$22.2M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.127	−0.107%	$54.5M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.124	−0.129%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.143	+0.016%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.139	−0.017%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.136	−0.035%	$589K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.148	+0.053%	$153K	$666K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.130	−0.084%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.112	−0.219%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.145	+0.030%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.117	−0.183%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.129	−0.095%	$645K	$904K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	13.121	−0.148%	$667K	$1.9M	25x
Aevo LINK-PERP	+0.0104%	1h	13.120	−0.159%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.150	+0.068%	$990K	$2.7M	50x	as long as short
Hyperliquid LINKlong	+0.0130%	1h	13.141	long leg	$77.4M	$23.6M	10x
Backpack LINK_USDC_PERP	+0.0196%	1h	13.125	−0.122%	$365K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.135	−0.046%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.127	−0.109%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0491%	8h	13.135	−0.046%	$20.3M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0697%	1h	13.123	−0.134%	$6.9M	$8.0M	50x	as long as short