LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0120%/8h= −13.1% APRnext payment −$0.15 per $10,000 · paid last 24h −0.023%

Price spread now: Deribit against Coinbase International−0.055%59s7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.434% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.158%−$16 on $10k

Price spread, last 3 days (all we have)+0.076%+$8 · spread now −0.055%, 7d avg −0.017%

Together, before fees−0.082%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Deribit is 0.038% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.017%). Swap the legs. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.174	0.0120	pay 0.0015% / 1h	19m 20s	$991K	$2.8M	50x
Short	Deribit LINK_USDC-PERPETUAL	13.167	0	get 0.0000% / 1h	19m 20s	$719K	$125K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. 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 Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$25.2
Price spread: −0.055% → −0.017%: −$3.78
Slippage, 4 orders: −$26.42
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$72.4
Costs to cover: 0.434%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Deribit: live order book, 65 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 Coinbase International live order book, 5 min ago	2.66 bp	13.1 bp −$13	17.3 bp −$173	doesn't fit	doesn't fit
Sell Deribit live order book, 65 min ago	2.66 bp	11.5 bp −$11	15.6 bp −$156	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	13.169	−0.035%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.165	−0.065%	$349K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.180	+0.048%	$460K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUALshort	0.0000%	1h	13.167	−0.055%	$719K	$125K	50x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.169	−0.034%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.875%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.193	+0.144%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.163	−0.083%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.162	−0.091%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.157	−0.131%	$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	13.162	−0.087%	$402K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.182	+0.061%	$77.8M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.168	−0.049%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.162	−0.094%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.167	−0.053%	$122.2M	$303.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.166	−0.061%	$84.9M	$70.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.165	−0.068%	$27.7M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.177	+0.023%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.167	−0.053%	$130.6M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.167	−0.053%	$36.3M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.163	−0.083%	$22.4M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.162	−0.091%	$54.8M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.168	−0.046%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.187	+0.098%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.189	+0.117%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.193	+0.141%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.196	+0.167%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.170	−0.030%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.160	−0.108%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.173	−0.007%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.158	−0.121%	$5K	$37K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.168	−0.044%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.156	−0.137%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.165	−0.065%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0120%	1h	13.174	long leg	$991K	$2.8M	50x
Backpack LINK_USDC_PERP	+0.0211%	1h	13.169	−0.038%	$365K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.193	+0.144%	$5.3M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.166	−0.058%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0472%	8h	13.180	+0.046%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0694%	1h	13.165	−0.065%	$7.0M	$8.1M	50x	as long as short