Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: SunX against Injective+5.477%61s7-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 SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.949%−$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 SunX is 5.477% dearer against Injective than usual: you sell high and buy low: +$548 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 −0.949%, so the current rate has only just turned in your favour. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

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	49m 53s	$4K	$48K	12x
Short	SunX LINK-USDT	13.079	0.0100	get 0.0100% / 8h	2h 49m	$34K	$1.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +5.477%Rate

Funding earned: $14
Price spread: +5.477% → 0.000%: $547.74
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: $553.72
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; SunX: live order book, 5 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 SunX live order book, 5 min ago	13.67 bp	19.2 bp −$19	doesn't fit	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 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 +0.0165%	1h	13.071	+5.413%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.077	+5.458%	$455K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.075	+5.444%	$701K	$111K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.074	+5.433%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.082	+5.499%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Variational Omni LINK	+0.0037%	8h	13.058	+5.303%	$3.2M	$1.5M	—	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	13.064	+5.355%	$134K	$1.6M	20x	as long as short
dYdX LINK-USD	+0.0079%	1h	13.068	+5.384%	$346K	$60K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.082	+5.497%	$2.1M	$2.4M	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	+0.0100%	8h	13.070	+5.404%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.064	+5.355%	$397K	$319K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.090	+5.565%	$77.5M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.078	+5.465%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.067	+5.377%	$274K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.082	+5.502%	$121.0M	$301.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.083	+5.508%	$84.5M	$69.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.084	+5.516%	$27.6M	$84.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.082	+5.500%	$183K	$170K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.080	+5.484%	$130.3M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.080	+5.484%	$35.5M	$55.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.085	+5.524%	$21.9M	$16.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.083	+5.508%	$54.1M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.082	+5.500%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.088	+5.548%	$362K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.089	+5.558%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.133	+5.911%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.089	+5.556%	$152K	$661K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.073	+5.427%	$79K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.068	+5.387%	$22K	$16K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	13.079	+5.477%	$34K	$1.6M	30x
SoDEX LINK-USD	+0.0100%	1h	13.074	+5.435%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.040	+5.161%	$638K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.078	+5.472%	$664K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.075	+5.442%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.079	+5.476%	$986K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.049	+5.234%	$5.2M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.069	+5.395%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0506%	1h	13.085	+5.526%	$6.9M	$7.7M	50x	as long as short
Phemex LINKUSDT	+0.0515%	8h	13.086	+5.532%	$20.2M	$11.5M	50x	as long as short