Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Deribit against SunX−0.022%7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$560.556% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.237%−$24 on $10k

Price spread, last 3 days (all we have)+0.010%+$1 · spread now −0.022%, 7d avg −0.098%

Together, before fees−0.227%−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.076% dearer against SunX than usual: you sell high and buy low (spread −0.022% now, against its 7-day average of −0.098%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	13.225	0.0100	pay 0.0100% / 8h	58m 49s	$34K	$1.6M	30x
Short	Deribit LINK_USDC-PERPETUAL	13.223	0	get 0.0000% / 1h	58m 49s	$725K	$128K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$21
Price spread: −0.022% → −0.098%: $7.59
Slippage, 4 orders: −$40.65
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$69.06
Costs to cover: 0.556%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; Deribit: live order book, 20 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 SunX live order book, 6 min ago	13.69 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 20 min ago	4.17 bp	10.7 bp −$11	16.2 bp −$162	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	13.217	−0.061%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.221	−0.033%	$488K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUALshort	0.0000%	1h	13.223	−0.022%	$725K	$128K	50x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.217	−0.066%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.241%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.203	−0.169%	$4K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.216	−0.071%	$134K	$1.5M	20x	as long as short
dYdX LINK-USD	+0.0055%	1h	13.214	−0.089%	$350K	$48K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.218	−0.055%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.209	−0.124%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.207	−0.135%	$404K	$313K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.225	−0.006%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.214	−0.087%	$277K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.219	−0.047%	$123.0M	$303.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.215	−0.079%	$85.4M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.219	−0.048%	$27.9M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.226	+0.005%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.221	−0.033%	$131.0M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.219	−0.048%	$37.0M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.220	−0.041%	$22.6M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.215	−0.079%	$55.1M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.220	−0.041%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.194	−0.240%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.204	−0.158%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.203	−0.170%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.207	−0.139%	$154K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.216	−0.071%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.213	−0.097%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	13.225	long leg	$34K	$1.6M	30x
SoDEX LINK-USD	+0.0100%	1h	13.220	−0.041%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.199	−0.197%	$649K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.214	−0.087%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.220	−0.045%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.222	−0.026%	$999K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.216	−0.071%	$5.3M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0269%	1h	13.231	+0.042%	$365K	$380K	15x	as long as short
Hyperliquid LINK	+0.0282%	1h	13.235	+0.073%	$78.2M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.210	−0.115%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0462%	8h	13.233	+0.057%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0475%	1h	13.229	+0.027%	$7.0M	$8.2M	50x	as long as short