Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0614%/8h= +67.2% APRpaid last 24h +0.040%

Price spread now: dYdX against MEXC−0.018%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$840.843% of the position

Long on MEXC Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.335%+$34 on $10k

Price spread, last 4 days (all we have)+0.065%+$6 · spread now −0.018%, 7d avg +0.008%

Together, before fees+0.400%+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.026% cheaper against MEXC than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.008%). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$18 a day). At the pace of the last 7 days (+0.335% in total) that is about 13 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.335% in total (about 17.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LINK_USDT	12.934	0.0100	pay 0.0100% / 8h	2h 19m	$32.9M	$57.7M	300x
Short	dYdX LINK-USD	12.932	0.0714	get 0.0089% / 1h	19m 19s	$344K	$33K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.018%Rate

Funding earned: $128.87
Price spread: −0.018% → +0.008%: −$2.64
Slippage, 4 orders: −$74.26
Fee MEXC: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: $41.97
Costs to cover: 0.843%
Break-even: 4.7 days

Slippage from MEXC: live order book, 5 min ago; dYdX: live order book, 30 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, 5 min ago	0.39 bp	0.4 bp $0	2.9 bp −$29	22.2 bp −$2,222	44.2 bp −$22.1K
Sell dYdX live order book, 30 min ago	36.55 bp	41.7 bp −$42	163.2 bp −$1,632	177.3 bp −$17.7K	224.9 bp −$112.4K

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 −0.0089% / S +0.0166%	1h	12.933	−0.006%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.909	−0.193%	$525K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.932	−0.014%	$157K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.129%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0038%	8h	12.924	−0.077%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.881	−0.407%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.929	−0.035%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.931	−0.024%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.928	−0.043%	$346K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.936	+0.013%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.932	−0.015%	$275K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.936	+0.014%	$118.9M	$302.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.932	−0.015%	$83.5M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.933	−0.008%	$27.4M	$80.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.945	+0.085%	$181K	$154K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.929	−0.039%	$124.4M	$15.2M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	12.934	long leg	$32.9M	$57.7M	300x
KuCoin LINKUSDTM	+0.0100%	8h	12.934	0.000%	$22.8M	$13.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.932	−0.015%	$54.0M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.935	+0.008%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.887	−0.361%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.895	−0.298%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.850	−0.649%	$582K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.849	−0.657%	$131K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.938	+0.031%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.929	−0.039%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.947	+0.101%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.930	−0.031%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.892	−0.325%	$633K	$675K	75x	as long as short
Backpack LINK_USDC_PERP	+0.0103%	1h	12.940	+0.046%	$337K	$390K	15x	as long as short
Extended LINK-USD	+0.0104%	1h	12.926	−0.065%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.916	−0.137%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.925	−0.070%	$920K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.895	−0.302%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0236%	1h	12.948	+0.108%	$80.6M	$27.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0277%	1h	12.932	−0.014%	$6.6M	$8.3M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0284%	1h	12.938	+0.029%	$801K	$246K	50x	as long as short
Reya LINKRUSDPERP	+0.0395%	1h	12.932	−0.016%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0560%	8h	12.940	+0.046%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USDshort	+0.0714%	1h	12.932	−0.018%	$344K	$33K	10x