Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0288%/8h= +31.5% APRpaid last 24h +0.026%

Price spread now: dYdX against KuCoin+0.002%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1431.430% of the position

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.337%+$34 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now +0.002%, 7d avg +0.013%

Together, before fees+0.425%+$43 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	12.994	0.0100	pay 0.0100% / 8h	5h 36m	$23.0M	$13.6M	75x
Short	dYdX LINK-USD	12.994	0.0388	get 0.0048% / 1h	36m 25s	$344K	$30K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against KuCoin. 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 KuCoinbpFee dYdXbpOrdersPrice spread, now +0.002%Rate

Funding earned: $60.42
Price spread: +0.002% → +0.013%: −$1.11
Slippage, 4 orders: −$120.96
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$83.65
Costs to cover: 1.430%
Break-even: 16.7 days

Slippage from KuCoin: live order book, 2 min ago; dYdX: live order book, 28 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 KuCoin live order book, 2 min ago	1.54 bp	12.3 bp −$12	21.6 bp −$216	doesn't fit	doesn't fit
Sell dYdX live order book, 28 min ago	54.59 bp	59.6 bp −$60	144.0 bp −$1,440	199.1 bp −$19.9K	339.7 bp −$169.9K

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	12.996	+0.019%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.979	−0.116%	$480K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.999	+0.042%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.571%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.981	−0.100%	$937K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0066%	8h	12.999	+0.038%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.991	−0.023%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.974	−0.155%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.993	−0.004%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.992	−0.015%	$395K	$315K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.993	−0.004%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.995	+0.008%	$274K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.001	+0.054%	$119.9M	$296.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.998	+0.031%	$84.0M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.001	+0.054%	$27.4M	$82.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.005	+0.085%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.984	−0.077%	$128.2M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.993	−0.008%	$32.0M	$56.9M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	12.994	long leg	$23.0M	$13.6M	75x
Bitget LINKUSDT	+0.0100%	8h	12.988	−0.046%	$54.0M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.999	+0.038%	—	$22.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.992	−0.015%	$339K	$378K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.177%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.977	−0.129%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.960	−0.259%	$580K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.975	−0.146%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.998	+0.031%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.975	−0.148%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.969	−0.190%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.977	−0.131%	$23K	$53K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.945	−0.377%	$639K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.988	−0.047%	$675K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.976	−0.137%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0174%	1h	12.981	−0.100%	$771K	$183K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.983	−0.085%	$5.2M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	12.986	−0.063%	$4K	—	20x	as long as short
dYdX LINK-USDshort	+0.0388%	1h	12.994	+0.002%	$344K	$30K	10x
Kraken Futures PF_LINKUSD	+0.0555%	1h	12.980	−0.107%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0605%	8h	12.994	0.000%	$20.0M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0645%	1h	13.007	+0.100%	$81.4M	$27.0M	10x	as long as short