Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0007%/8h= +0.8% APRpaid last 24h +0.012%

Price spread now: SunX against Deribit+0.019%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1241.235% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$22 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.019%, 7d avg +0.096%

Together, before fees+0.219%+$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.077% cheaper against Deribit than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LINK_USDC-PERPETUAL	12.836	0.0093	pay 0.0012% / 1h	28m 58s	$803K	$268K	50x
Short	SunX LINK-USDT	12.839	0.0100	get 0.0100% / 8h	7h 28m	$33K	$1.4M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Deribit. 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 DeribitbpFee SunXbpOrdersPrice spread, now +0.019%Rate

Funding earned: $1.47
Price spread: +0.019% → +0.096%: −$7.69
Slippage, 4 orders: −$108.53
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$129.75
Costs to cover: 1.235%
Break-even: 624.9 days

Slippage from Deribit: live order book, 5 min ago; SunX: live order book, 6 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, 5 min ago	3.50 bp	7.0 bp −$7	13.7 bp −$137	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	48.66 bp	54.2 bp −$54	doesn't fit	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
Orderly PERP_LINK_USDC	−0.0117%	8h	12.824	−0.097%	$90K	$971K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.829	−0.057%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.839	+0.019%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0002%	1h	12.828	−0.066%	$105K	—	150x	as long as short
Bybit LINKUSDT	+0.0022%	8h	12.820	−0.128%	$83.0M	$72.9M	75x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.400%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.831	−0.041%	$6.4M	$8.4M	50x	as long as short
Phoenix LINK	+0.0087%	1h	12.863	+0.207%	$3K	$85K	10x	as long as short
Deribit LINK_USDC-PERPETUALlong	+0.0093%	1h	12.836	long leg	$803K	$268K	50x
Lighter LINK	+0.0096%	1h	12.829	−0.059%	$1.9M	$2.9M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	12.827	−0.073%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.822	−0.116%	$347K	$335K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.835	−0.011%	$80.1M	$28.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.833	−0.026%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.829	−0.056%	$273K	$178K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.825	−0.093%	$118.4M	$296.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.821	−0.120%	$26.9M	$79.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.841	+0.036%	$179K	$100K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.829	−0.058%	$133.0M	$17.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.821	−0.120%	$35.6M	$58.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.826	−0.081%	$22.8M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.817	−0.151%	$53.5M	$29.8M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.819	−0.136%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.835	−0.011%	$333K	$386K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.832	−0.031%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.834	−0.021%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.831	−0.044%	$575K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.841	+0.036%	$131K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.829	−0.058%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.822	−0.110%	$16K	$22K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	12.839	+0.019%	$33K	$1.4M	30x
SoDEX LINK-USD	+0.0100%	1h	12.827	−0.073%	$10K	$59K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.819	−0.137%	$626K	$709K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.816	−0.161%	$614K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.830	−0.050%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.835	−0.011%	$923K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.825	−0.089%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0403%	1h	12.823	−0.104%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0592%	8h	12.844	+0.059%	$19.8M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.1481%	1h	12.830	−0.050%	$345K	$49K	10x	as long as short