Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0832%/8h= +91.1% APRpaid last 24h +0.036%

Price spread now: dYdX against Bitget−0.052%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$223as in the Price arb table

costs, in and out, $10k−$2152.147% of the position

Long on Bitget Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.321%+$32 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now −0.052%, 7d avg +0.030%

Together, before fees+0.434%+$43 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.083% cheaper against Bitget than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of +0.030%). If the spread goes back, that is −$8 on $10k: about 8 hours of funding at the current rate (+$25 a day). At the pace of the last 7 days (+0.321% in total) that is about 43 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.321% in total (about 16.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget LINKUSDT	12.872	0.0100	pay 0.0100% / 8h	1h 30m	$53.9M	$30.5M	75x
Short	dYdX LINK-USD	12.865	0.0932	get 0.0116% / 1h	30m 52s	$343K	$33K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bitget. 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 BitgetbpFee dYdXbpOrdersPrice spread, now −0.052%Rate

Funding earned: $174.71
Price spread: −0.052% → +0.030%: −$8.27
Slippage, 4 orders: −$192.74
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$48.3
Costs to cover: 2.147%
Break-even: 8.9 days

Slippage from Bitget: live order book, 3 min ago; dYdX: live order book, 13 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 Bitget live order book, 3 min ago	0.39 bp	9.7 bp −$10	15.7 bp −$157	26.5 bp −$2,651	doesn't fit
Sell dYdX live order book, 13 min ago	46.36 bp	147.0 bp −$147	147.1 bp −$1,471	161.5 bp −$16.1K	212.4 bp −$106.2K

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 −0.0088% / S +0.0166%	1h	12.873	+0.005%	$1.8M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0007%	8h	12.865	−0.054%	$93K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.872	−0.002%	$510K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.873	+0.007%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.667%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.855	−0.135%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.874	+0.015%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.869	−0.020%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.870	−0.012%	$350K	$341K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.876	+0.031%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.870	−0.019%	$274K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.876	+0.030%	$118.8M	$301.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.870	−0.016%	$83.2M	$73.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.873	+0.008%	$26.9M	$80.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.888	+0.124%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.868	−0.031%	$123.8M	$15.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.876	+0.031%	$34.3M	$58.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.878	+0.047%	$22.7M	$12.9M	75x	as long as short
Bitget LINKUSDTlong	+0.0100%	8h	12.872	long leg	$53.9M	$30.5M	75x
BingX LINK-USDC	+0.0100%	8h	12.873	+0.008%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.849	−0.177%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.858	−0.109%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.869	−0.024%	$580K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.863	−0.070%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.878	+0.047%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.852	−0.156%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.891	+0.151%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.874	+0.016%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.848	−0.190%	$631K	$783K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.866	−0.043%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.877	+0.038%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.869	−0.023%	$933K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0121%	1h	12.882	+0.078%	$336K	$388K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.877	+0.038%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.874	+0.016%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0335%	1h	12.887	+0.117%	$80.4M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0398%	1h	12.869	−0.023%	$4K	—	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0449%	1h	12.880	+0.063%	$805K	$266K	50x	as long as short
Phemex LINKUSDT	+0.0584%	8h	12.891	+0.148%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USDshort	+0.0932%	1h	12.865	−0.052%	$343K	$33K	10x