Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.021%

Price spread now: dYdX against BingX+0.102%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$260as in the Funding arb table

Net, price: spread back to 7d avg − costs−$278as in the Price arb table

costs, in and out, $10k−$2862.864% of the position

Long on BingX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.264%+$26 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now +0.102%, 7d avg +0.023%

Together, before fees+0.211%+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and dYdX is 0.079% dearer against BingX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDT	13.192	0.0100	pay 0.0100% / 8h	7h 35m	—	$21.1M	—
Short	dYdX LINK-USD	13.205	0.0193	get 0.0024% / 1h	35m 24s	$350K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BingX. 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 BingXbpFee dYdXbpOrdersPrice spread, now +0.102%Rate

Funding earned: $19.61
Price spread: +0.102% → +0.023%: $7.91
Slippage, 4 orders: −$266.38
Fee BingX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$258.86
Costs to cover: 2.864%
Break-even: 99.4 days

Slippage from BingX: live order book, 3 min ago; dYdX: live order book, 39 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 BingX live order book, 3 min ago	1.14 bp	6.1 bp −$6	8.5 bp −$85	19.6 bp −$1,964	41.8 bp −$20.9K
Sell dYdX live order book, 39 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	13.194	+0.013%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.247	+0.416%	$476K	$2.2M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.202	+0.074%	$783K	$209K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.195	+0.027%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.004%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.229	+0.281%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0047%	8h	13.195	+0.023%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.204	+0.091%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.203	+0.083%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.191	−0.011%	$404K	$308K	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	13.208	+0.121%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.206	+0.109%	$277K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.195	+0.023%	$122.7M	$302.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.192	0.000%	$85.1M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.195	+0.023%	$27.9M	$84.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.219	+0.205%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.194	+0.015%	$130.6M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.191	−0.008%	$36.8M	$58.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.197	+0.038%	$22.9M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.194	+0.015%	$54.9M	$30.2M	75x	as long as short
BingX LINK-USDTlong	+0.0100%	8h	13.192	long leg	—	$21.1M	—
Variational Omni LINK	+0.0100%	8h	13.213	+0.163%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.204	+0.091%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.182	−0.076%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.220	+0.212%	$154K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.196	+0.030%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.197	+0.039%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.212	+0.149%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.196	+0.030%	$5K	$28K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.210	+0.133%	$650K	$853K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.193	+0.010%	$670K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.199	+0.053%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.224	+0.243%	$1.0M	$2.7M	50x	as long as short
dYdX LINK-USDshort	+0.0193%	1h	13.205	+0.102%	$350K	$48K	10x
Backpack LINK_USDC_PERP	+0.0211%	1h	13.227	+0.265%	$370K	$368K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.217	+0.190%	$5.3M	$16.5M	75x	as long as short
Phemex LINKUSDT	+0.0342%	8h	13.234	+0.318%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.203	+0.082%	$6.9M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.188	−0.033%	$5K	—	20x	as long as short
Hyperliquid LINK	+0.0579%	1h	13.214	+0.167%	$81.5M	$24.8M	10x	as long as short