Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0173%/8h= +18.9% APRpaid last 24h −0.023%

Price spread now: Deribit against MEXC+0.268%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs+$8as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.268%, 7d avg +0.002%

Together, before fees−0.228%−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Deribit is 0.266% dearer against MEXC than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.002%. Mind the row above: over the last 7 days funding on this pair cost −0.177%, 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	MEXC LINK_USDT	12.973	0.0100	pay 0.0100% / 8h	5h 41m	$31.9M	$56.9M	300x
Short	Deribit LINK_USDC-PERPETUAL	13.008	0.0273	get 0.0034% / 1h	41m 34s	$773K	$193K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against MEXC. 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 MEXCbpFee DeribitbpOrdersPrice spread, now +0.268%Rate

Funding earned: $36.33
Price spread: +0.268% → +0.002%: $26.62
Slippage, 4 orders: −$11.71
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $44.24
Costs to cover: 0.187%
Break-even: from the start

Slippage from MEXC: live order book, 7 min ago; Deribit: live order book, 22 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 MEXC live order book, 7 min ago	0.38 bp	0.6 bp −$1	4.1 bp −$41	24.9 bp −$2,490	41.7 bp −$20.9K
Sell Deribit live order book, 22 min ago	4.60 bp	9.6 bp −$10	19.1 bp −$191	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	13.003	+0.231%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.013	+0.309%	$480K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.004	+0.237%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.417%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.012	+0.301%	$939K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	13.001	+0.216%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.974	+0.007%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.004	+0.240%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.974	+0.007%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.978	+0.042%	$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	12.979	+0.047%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.976	+0.022%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.977	+0.031%	$119.7M	$296.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.975	+0.015%	$83.9M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.978	+0.039%	$27.3M	$82.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.995	+0.170%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.975	+0.015%	$128.2M	$12.6M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	12.973	long leg	$31.9M	$56.9M	300x
KuCoin LINKUSDTM	+0.0100%	8h	12.976	+0.023%	$23.0M	$13.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.974	+0.008%	$54.0M	$30.0M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.979	+0.046%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.014%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.006	+0.253%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.011	+0.290%	$583K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.011	+0.293%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.010	+0.285%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.001	+0.216%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.027	+0.412%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.004	+0.239%	$14K	$49K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.959	−0.107%	$639K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.975	+0.013%	$701K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.005	+0.243%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.005	+0.247%	$340K	$378K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.015	+0.324%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0273%	1h	13.008	+0.268%	$773K	$193K	50x
dYdX LINK-USD	+0.0335%	1h	12.974	+0.005%	$344K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.001	+0.215%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.005	+0.247%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0599%	8h	13.019	+0.355%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0691%	1h	12.989	+0.123%	$81.1M	$27.0M	10x	as long as short