LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1045%/8h= −114.4% APRnext payment −$1.31 per $10,000 · paid last 24h −0.034%

Price spread now: Arcus against dYdX+0.118%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1131.132% of the position

Long on dYdX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.193%−$19 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.118%, 7d avg +0.059%

Together, before fees−0.312%−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.059% dearer against dYdX than usual: you sell high and buy low (spread +0.118% now, against its 7-day average of +0.059%): +$6 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 4 days (−0.193% in total) that is about 27 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.193% in total (about -19.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.31 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	dYdX LINK-USD	12.908	0.1145	pay 0.0143% / 1h	54m 55s	$344K	$33K	10x
Short	Arcus LINK-USD	12.923	0.0100	get 0.0013% / 1h	54m 55s	$180K	$94K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against dYdX. 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 dYdXbpFee ArcusbpOrdersPrice spread, now +0.118%Rate

Funding earned: −$219.45
Price spread: +0.118% → +0.059%: $5.87
Slippage, 4 orders: −$98.67
Fee dYdX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$326.75
Costs to cover: 1.132%
Break-even: never at this rate

Slippage from dYdX: live order book, 54 min ago; Arcus: live order book, 53 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 dYdX live order book, 54 min ago	36.55 bp	41.6 bp −$42	76.2 bp −$762	80.6 bp −$8,060	125.3 bp −$62.7K
Sell Arcus live order book, 53 min ago	11.98 bp	14.4 bp −$14	23.8 bp −$238	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 −0.0089% / S +0.0166%	1h	12.902	−0.045%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.914	+0.047%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.904	−0.027%	$156K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0015%	8h	12.898	−0.076%	$94K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.934%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.916	+0.067%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.903	−0.034%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.907	−0.005%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.906	−0.010%	$348K	$337K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.900	−0.061%	$1.2M	$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	12.909	+0.012%	$275K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.896	−0.091%	$118.9M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.892	−0.123%	$83.2M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.894	−0.107%	$27.0M	$81.0M	50x	as long as short
Arcus LINK-USDshort	+0.0100%	1h	12.923	+0.118%	$180K	$94K	10x
Gate LINK_USDT	+0.0100%	8h	12.897	−0.084%	$124.1M	$15.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.897	−0.084%	$33.0M	$57.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.901	−0.053%	$22.8M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.898	−0.076%	$53.9M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.896	−0.092%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.901	−0.051%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.938	+0.237%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.911	+0.023%	$586K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.924	+0.125%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.908	+0.001%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.901	−0.051%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.915	+0.056%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.903	−0.037%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.893	−0.113%	$632K	$786K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.894	−0.106%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.904	−0.030%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.914	+0.048%	$933K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0155%	1h	12.912	+0.032%	$336K	$389K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.905	−0.019%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.905	−0.022%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0223%	1h	12.909	+0.012%	$805K	$254K	50x	as long as short
Hyperliquid LINK	+0.0284%	1h	12.918	+0.079%	$80.5M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0397%	1h	12.901	−0.052%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0574%	8h	12.919	+0.087%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USDlong	+0.1145%	1h	12.908	long leg	$344K	$33K	10x