Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0322%/8h= +35.2% APRpaid last 24h +0.021%

Price spread now: dYdX against SunX−0.092%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$287as in the Funding arb table

Net, price: spread back to 7d avg − costs−$311as in the Price arb table

costs, in and out, $10k−$3113.113% of the position

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.242%+$24 on $10k

Price spread, last 3 days (all we have)−0.048%−$5 · spread now −0.092%, 7d avg −0.091%

Together, before fees+0.194%+$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.091%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	13.123	0.0100	pay 0.0100% / 8h	7h 17m	$34K	$1.5M	30x
Short	dYdX LINK-USD	13.111	0.0422	get 0.0053% / 1h	17m 58s	$347K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.092%Rate

Funding earned: $67.57
Price spread: −0.092% → −0.091%: −$0.16
Slippage, 4 orders: −$293.31
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$243.9
Costs to cover: 3.113%
Break-even: 32.3 days

Slippage from SunX: live order book, 7 min ago; dYdX: live order book, 56 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, 7 min ago	13.63 bp	18.0 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 56 min ago	44.42 bp	224.7 bp −$225	228.2 bp −$2,282	228.6 bp −$22.9K	238.7 bp −$119.4K

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 −0.0091% / S +0.0167%	1h	13.131	+0.060%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.130	+0.049%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.134	+0.078%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.512%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.168	+0.337%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0066%	8h	13.139	+0.120%	$133K	$1.5M	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0070%	1h	13.145	+0.168%	$780K	$211K	50x	as long as short
Lighter LINK	+0.0096%	1h	13.142	+0.142%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.191	+0.513%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.112	−0.086%	$402K	$307K	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	13.137	+0.107%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.114	−0.074%	$275K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.151	+0.208%	$122.1M	$300.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.148	+0.188%	$84.8M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.149	+0.196%	$27.5M	$84.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.132	+0.066%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.150	+0.203%	$130.3M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.152	+0.219%	$36.7M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.153	+0.226%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.148	+0.188%	$54.6M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.148	+0.188%	—	$20.8M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.157	+0.259%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.155	+0.239%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.158	+0.267%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.158	+0.264%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.123	−0.002%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.139	+0.116%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	13.123	long leg	$34K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	13.141	+0.135%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.107	−0.122%	$645K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.146	+0.175%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.143	+0.151%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.114	−0.071%	$999K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0176%	1h	13.159	+0.272%	$364K	$364K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.134	+0.082%	$5.2M	$15.4M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.159	+0.270%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.117	−0.051%	$5K	—	20x	as long as short
dYdX LINK-USDshort	+0.0422%	1h	13.111	−0.092%	$347K	$48K	10x
Hyperliquid LINK	+0.0554%	1h	13.168	+0.341%	$81.3M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0728%	8h	13.161	+0.287%	$20.4M	$11.6M	50x	as long as short