LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0119%/8h= −13.0% APRnext payment −$0.15 per $10,000 · paid last 24h −0.002%

Price spread now: Polymarket Perps against Backpack−0.045%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.374%−$37 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Polymarket Perps is 0.045% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LINK_USDC_PERP	13.191	0.0219	pay 0.0027% / 1h	0m 07s	$364K	$376K	15x
Short	Polymarket Perps LINK-USD	13.185	0.0100	get 0.0013% / 1h	0m 07s	$82K	$69K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Backpack. 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 BackpackbpFee Polymarket PerpsbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$25.01
Price spread: −0.045% → 0.000%: −$4.55
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$47.56
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 13 min ago; Polymarket Perps: 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 Backpack live order book, 13 min ago	0.38 bp	7.0 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: 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 +0.0167%	1h	13.182	−0.071%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.187	−0.031%	$478K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.183	−0.060%	$730K	$139K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.183	−0.064%	$134K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.136	−0.414%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.997%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.177	−0.106%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.178	−0.095%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.178	−0.096%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.178	−0.099%	$402K	$311K	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	13.181	−0.079%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.184	−0.050%	$277K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.181	−0.076%	$122.5M	$306.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.179	−0.091%	$85.1M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.181	−0.076%	$27.9M	$86.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.194	+0.023%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.180	−0.083%	$130.6M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.177	−0.106%	$36.7M	$58.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.182	−0.068%	$22.8M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.178	−0.099%	$54.9M	$30.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.177	−0.106%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.177	−0.108%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.134	−0.433%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.096	−0.720%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.142	−0.371%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USDshort	+0.0100%	1h	13.185	−0.045%	$82K	$69K	10x
Derive LINK-PERP	+0.0100%	1h	13.177	−0.108%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.195	+0.030%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.179	−0.091%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.146	−0.339%	$647K	$875K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.176	−0.114%	$740K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.182	−0.066%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.186	−0.038%	$1.0M	$2.8M	50x	as long as short
Backpack LINK_USDC_PERPlong	+0.0219%	1h	13.191	long leg	$364K	$376K	15x
BloFin LINK-USDT	+0.0220%	8h	13.180	−0.083%	$5.2M	$16.4M	75x	as long as short
Hyperliquid LINK	+0.0291%	1h	13.198	+0.053%	$78.8M	$24.3M	10x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.180	−0.085%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0466%	8h	13.190	−0.008%	$20.4M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0476%	1h	13.186	−0.037%	$6.9M	$8.2M	50x	as long as short
dYdX LINK-USD	+0.0486%	1h	13.184	−0.053%	$349K	$48K	10x	as long as short