Funding you earn now, next payment 06:00 UTC+0.0761%/8h= +83.4% APRnext payment +$0.95 per $10,000 · paid last 24h +0.055%
Price spread now: dYdX against Deribit−0.119%7-day average +0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$115as in the Price arb table
costs, in and out, $10k−$1031.026% of the position
Funding, last 7 days+0.503%+$50 on $10k
+Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.119%, 7d avg +0.006%
=Funding pays, the price is against you. dYdX is 0.125% cheaper against Deribit than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of +0.006%). If the spread goes back, that is −$13 on $10k: about 13 hours of funding at the current rate (+$23 a day). At the pace of the last 7 days (+0.503% in total) that is about 42 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.503% in total (about 26.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.95 per $10,000. 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 | Deribit LINK_USDC-PERPETUAL | 12.826 | 0.0078 | pay 0.0010% / 1h | 27m 50s | $792K | $241K | 50x |
| Short | dYdX LINK-USD | 12.811 | 0.0839 | get 0.0105% / 1h | 27m 50s | $341K | $33K | 10x |
Deribit LINK_USDC-PERPETUAL
dYdX LINK-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $159.86
- Price spread: −0.119% → +0.006%
- −$12.51
- Slippage, 4 orders
- −$85.58
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- $44.77
- Costs to cover
- 1.026%
- Break-even
- 5.0 days
Slippage from Deribit: live order book, 21 min ago; dYdX: live order book, 21 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 Deribit live order book, 21 min ago | 4.25 bp | 7.7 bp −$8 | 13.6 bp −$136 | doesn't fit | doesn't fit |
| Sell dYdX live order book, 21 min ago | 36.55 bp | 41.7 bp −$42 | 163.2 bp −$1,632 | 177.3 bp −$17.7K | 224.9 bp −$112.4K |
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 −0.0089% / S +0.0166% | 1h | 12.817 | −0.068% | $1.7M | — | 200x | as long as short |
| Kalshi KXLINKPERP | 0.0000% | 8h | 12.834 | +0.059% | $503K | $2.3M | 3.7x | as long as short |
| gTrade (Gains Network) LINK/USD | L +0.0004% / S −0.0005% | 1h | 12.819 | −0.058% | $155K | — | 150x | as long as short |
| Injective LINK/USDC PERP | +0.0033% | 1h | 12.400 | −3.321% | $4K | $48K | 12x | as long as short |
| Orderly PERP_LINK_USDC | +0.0044% | 8h | 12.811 | −0.117% | $94K | $1.2M | 20x | as long as short |
| Phoenix LINK | +0.0074% | 1h | 12.848 | +0.168% | $3K | $82K | 10x | as long as short |
| Deribit LINK_USDC-PERPETUALlong | +0.0078% | 1h | 12.826 | long leg | $792K | $241K | 50x | |
| Lighter LINK | +0.0096% | 1h | 12.812 | −0.108% | $1.9M | $2.8M | 10x | as long as short |
| Paradex LINK-USD-PERP | +0.0100% | 8h | 12.819 | −0.057% | $31K | $2K | 20x | as long as short |
| Nado LINK-PERP | +0.0100% | 1h | 12.822 | −0.031% | $344K | $343K | 10x | as long as short |
GMX LINK/USD [LINK-USDC]
Kalshi KXLINKPERP
gTrade (Gains Network) LINK/USD
Injective LINK/USDC PERP
Orderly PERP_LINK_USDC
Phoenix LINK
Lighter LINK
Paradex LINK-USD-PERP
Nado LINK-PERPShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster LINKUSDT | +0.0100% | 8h | 12.817 | −0.067% | $1.2M | $2.4M | 50x | as long as short |
| Pacifica LINK | +0.0100% | 1h | 12.827 | +0.010% | $273K | $186K | 10x | as long as short |
| Binance LINKUSDT | +0.0100% | 8h | 12.812 | −0.107% | $118.0M | $302.7M | 75x | as long as short |
| Bybit LINKUSDT | +0.0100% | 8h | 12.808 | −0.140% | $82.7M | $73.5M | 75x | as long as short |
| OKX LINK-USDT-SWAP | +0.0100% | 8h | 12.809 | −0.133% | $27.1M | $79.8M | 50x | as long as short |
| Arcus LINK-USD | +0.0100% | 1h | 12.840 | +0.109% | $179K | $167K | 10x | as long as short |
| Gate LINK_USDT | +0.0100% | 8h | 12.815 | −0.086% | $123.5M | $15.0M | 75x | as long as short |
| MEXC LINK_USDT | +0.0100% | 8h | 12.811 | −0.117% | $32.8M | $57.4M | 300x | as long as short |
| KuCoin LINKUSDTM | +0.0100% | 8h | 12.815 | −0.086% | $22.6M | $13.1M | 75x | as long as short |
| Bitget LINKUSDT | +0.0100% | 8h | 12.808 | −0.140% | $53.5M | $30.4M | 75x | as long as short |
| BingX LINK-USDC | +0.0100% | 8h | 12.809 | −0.133% | — | $6.6M | — | as long as short |
| Backpack LINK_USDC_PERP | +0.0100% | 1h | 12.833 | +0.055% | $334K | $391K | 15x | as long as short |
| Variational Omni LINK | +0.0100% | 8h | 12.825 | −0.012% | $3.3M | $1.6M | — | as long as short |
| edgeX LINKUSDC | +0.0100% | 4h | 12.839 | +0.102% | $43K | $307K | 20x | as long as short |
| GRVT LINK_USDT_Perp | +0.0100% | 8h | 12.825 | −0.006% | $580K | $2.9M | 10x | as long as short |
| ApeX Omni LINKUSDT | +0.0100% | 1h | 12.838 | +0.094% | $131K | $673K | 50x | as long as short |
| Polymarket Perps LINK-USD | +0.0100% | 1h | 12.827 | +0.008% | $80K | $71K | 10x | as long as short |
| Derive LINK-PERP | +0.0100% | 1h | 12.818 | −0.065% | $16K | $22K | 10x | as long as short |
| SunX LINK-USDT | +0.0100% | 8h | 12.832 | +0.051% | $33K | $1.5M | 30x | as long as short |
| SoDEX LINK-USD | +0.0100% | 1h | 12.821 | −0.039% | $10K | $63K | 10x | as long as short |
| HTX LINK-USDT | +0.0100% | 8h | 12.819 | −0.058% | $629K | $678K | 75x | as long as short |
| Extended LINK-USD | +0.0104% | 1h | 12.805 | −0.164% | $625K | $2.0M | 25x | as long as short |
| Aevo LINK-PERP | +0.0104% | 1h | 12.820 | −0.046% | $538K | $2K | 3x | as long as short |
| Coinbase International LINK-PERP-INTX | +0.0128% | 1h | 12.833 | +0.055% | $913K | $2.8M | 50x | as long as short |
| Hyperliquid LINK | +0.0217% | 1h | 12.824 | −0.016% | $79.8M | $27.6M | 10x | as long as short |
| BloFin LINK-USDT | +0.0220% | 8h | 12.843 | +0.133% | $5.2M | $15.7M | 75x | as long as short |
| Kraken Futures PF_LINKUSD | +0.0279% | 1h | 12.823 | −0.027% | $6.6M | $8.3M | 50x | as long as short |
| Reya LINKRUSDPERP | +0.0395% | 1h | 12.820 | −0.050% | $4K | — | 20x | as long as short |
| Phemex LINKUSDT | +0.0587% | 8h | 12.837 | +0.086% | $19.8M | $11.2M | 50x | as long as short |
| dYdX LINK-USDshort | +0.0839% | 1h | 12.811 | −0.119% | $341K | $33K | 10x |
Aster LINKUSDT
Pacifica LINK
Binance LINKUSDT
Bybit LINKUSDT
OKX LINK-USDT-SWAP
Arcus LINK-USD
Gate LINK_USDT
MEXC LINK_USDT
KuCoin LINKUSDTM
Bitget LINKUSDT
BingX LINK-USDC
Backpack LINK_USDC_PERP
Variational Omni LINK
edgeX LINKUSDC
GRVT LINK_USDT_Perp
ApeX Omni LINKUSDT
Polymarket Perps LINK-USD
Derive LINK-PERP
SunX LINK-USDT
SoDEX LINK-USD
HTX LINK-USDT
Extended LINK-USD
Aevo LINK-PERP
Coinbase International LINK-PERP-INTX
Hyperliquid LINK
BloFin LINK-USDT
Kraken Futures PF_LINKUSD
Reya LINKRUSDPERP
Phemex LINKUSDT