Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: HTX against Injective+4.616%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.951%−$95 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and HTX is 4.616% dearer against Injective than usual: you sell high and buy low: +$462 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.951%, 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	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	28m 18s	$4K	$48K	12x
Short	HTX LINK-USDT	12.972	0.0100	get 0.0100% / 8h	6h 28m	$640K	$860K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Injective. 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 InjectivebpFee HTXbpOrdersPrice spread, now +4.616%Rate

Funding earned: $14
Price spread: +4.616% → 0.000%: $461.61
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: $463.59
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; HTX: live order book, 40 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell HTX live order book, 40 min ago	20.97 bp	27.1 bp −$27	180.0 bp −$1,800	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

LINK on 39 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	13.025	+5.037%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.974	+4.631%	$472K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	13.028	+5.065%	$150K	—	150x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Phoenix LINK	+0.0049%	1h	12.972	+4.615%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.026	+5.048%	$118K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.990	+4.758%	$955K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.983	+4.704%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.041	+5.173%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.009	+4.911%	$395K	$317K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.002	+4.852%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.990	+4.760%	$275K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.029	+5.077%	$119.7M	$303.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.028	+5.065%	$84.0M	$72.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.030	+5.081%	$27.4M	$84.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.004	+4.871%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.010	+4.919%	$128.4M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.021	+5.008%	$33.2M	$59.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.013	+4.944%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.031	+5.089%	$54.2M	$31.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.030	+5.081%	—	$22.9M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.981	+4.685%	$337K	$386K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.952	+4.456%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.963	+4.537%	$43K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.943	+4.381%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.961	+4.524%	$133K	$677K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.026	+5.048%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.028	+5.065%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.043	+5.187%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.030	+5.081%	$15K	$41K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	12.972	+4.616%	$640K	$860K	75x
Extended LINK-USD	+0.0104%	1h	13.027	+5.057%	$688K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.034	+5.113%	$547K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0257%	1h	13.037	+5.134%	$774K	$212K	50x	as long as short
dYdX LINK-USD	+0.0296%	1h	12.986	+4.725%	$344K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	13.019	+4.988%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0407%	1h	13.034	+5.113%	$80.3M	$26.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0500%	1h	13.036	+5.126%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0622%	8h	12.982	+4.694%	$20.0M	$11.5M	50x	as long as short