Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Derive against Nado−0.024%7-day average — · you buy dearer than you sell

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

Long on Nado Short on Derive

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.024% cheaper against Nado than usual: you would sell low and buy high, −$2 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LINK-PERP	13.101	0.0100	pay 0.0012% / 1h	56m 23s	$397K	$314K	10x
Short	Derive LINK-PERP	13.097	0.0100	get 0.0013% / 1h	56m 23s	$22K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Nado. 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 NadobpFee DerivebpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → 0.000%: −$2.37
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Derive: 3 bp × 2 orders: −$6
Net: −$15.37
Costs to cover: 0.130%
Break-even: 1579406966398594.0 days

Slippage unknown: Nado: live order book, 31 min ago; Derive: no order-book sample. 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 Nado live order book, 31 min ago	1.13 bp	7.6 bp −$8	22.2 bp −$222	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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 +0.0166%	1h	13.099	−0.013%	$1.7M	—	200x	as long as short
Phoenix LINK	−0.0012%	1h	13.127	+0.206%	$3K	$84K	10x	as long as short
dYdX LINK-USD	0.0000%	1h	13.113	+0.093%	$347K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.111	+0.079%	$457K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.106	+0.044%	$698K	$106K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.099	−0.011%	$83K	—	150x	as long as short
Variational Omni LINK	+0.0025%	8h	13.175	+0.566%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.347%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	13.094	−0.050%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.107	+0.052%	$2.1M	$2.3M	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	13.098	−0.016%	$32K	$3K	20x	as long as short
Nado LINK-PERPlong	+0.0100%	1h	13.101	long leg	$397K	$314K	10x
Hyperliquid LINK	+0.0100%	1h	13.106	+0.042%	$78.1M	$23.4M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.103	+0.019%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.109	+0.068%	$275K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.097	−0.027%	$121.1M	$301.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.094	−0.050%	$84.8M	$68.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.098	−0.019%	$27.7M	$84.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.115	+0.111%	$184K	$169K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.094	−0.050%	$130.6M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.095	−0.042%	$35.3M	$55.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.096	−0.034%	$21.8M	$16.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.100	−0.004%	$54.2M	$29.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.096	−0.034%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.122	+0.164%	$363K	$374K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.150	+0.375%	$44K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.141	+0.312%	$591K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.157	+0.431%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.094	−0.050%	$79K	$62K	10x	as long as short
Derive LINK-PERPshort	+0.0100%	1h	13.097	−0.024%	$22K	$13K	10x
SunX LINK-USDT	+0.0100%	8h	13.109	+0.065%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.102	+0.011%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.079	−0.167%	$640K	$905K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.100	−0.003%	$668K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.104	+0.027%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.100	−0.004%	$990K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.110	+0.073%	$5.3M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.094	−0.051%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0496%	8h	13.113	+0.095%	$20.2M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0505%	1h	13.112	+0.090%	$6.9M	$7.7M	50x	as long as short