Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0365%/8h= −39.9% APRpaid last 24h −0.029%

Price spread now: OKX against dYdX−0.014%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$320as in the Funding arb table

Net, price: spread back to 7d avg − costs−$288as in the Price arb table

costs, in and out, $10k−$2892.891% of the position

Long on dYdX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.311%−$31 on $10k

Price spread, last 4 days (all we have)−0.036%−$4 · spread now −0.014%, 7d avg −0.027%

Together, before fees−0.347%−$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	13.194	0.0465	pay 0.0058% / 1h	26m 45s	$349K	$48K	10x
Short	OKX LINK-USDT-SWAP	13.192	0.0100	get 0.0100% / 8h	7h 26m	$27.7M	$84.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$76.56
Price spread: −0.014% → −0.027%: $1.31
Slippage, 4 orders: −$269.08
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$364.33
Costs to cover: 2.891%
Break-even: never at this rate

Slippage from dYdX: live order book, 47 min ago; OKX: live order book, 2 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, 47 min ago	44.42 bp	49.4 bp −$49	55.2 bp −$552	101.1 bp −$10.1K	139.2 bp −$69.6K
Sell OKX live order book, 2 min ago	0.38 bp	7.5 bp −$8	16.4 bp −$164	31.7 bp −$3,167	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 −0.0091% / S +0.0167%	1h	13.176	−0.139%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.178	−0.122%	$474K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.177	−0.132%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.017%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.174	−0.154%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	13.174	−0.151%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.190	−0.026%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.242	+0.367%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.171	−0.177%	$404K	$309K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.179	−0.114%	$1.4M	$3.0M	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	13.194	+0.004%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.194	−0.002%	$122.6M	$301.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.193	−0.007%	$84.9M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	13.192	−0.014%	$27.7M	$84.6M	50x
Arcus LINK-USD	+0.0100%	1h	13.186	−0.060%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.174	−0.151%	$130.4M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.193	−0.007%	$37.3M	$58.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.189	−0.037%	$23.1M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.185	−0.067%	$54.8M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.176	−0.136%	—	$20.9M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.175	−0.140%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.162	−0.245%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.174	−0.148%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.167	−0.204%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.182	−0.090%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.174	−0.150%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.188	−0.044%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.173	−0.158%	$5K	$28K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.157	−0.277%	$647K	$850K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.172	−0.169%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.177	−0.127%	$553K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0107%	1h	13.182	−0.093%	$783K	$211K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.186	−0.060%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0187%	1h	13.182	−0.090%	$367K	$368K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.178	−0.120%	$5.3M	$16.0M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.182	−0.087%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.176	−0.139%	$5K	—	20x	as long as short
dYdX LINK-USDlong	+0.0465%	1h	13.194	long leg	$349K	$48K	10x
Phemex LINKUSDT	+0.0545%	8h	13.193	−0.007%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0580%	1h	13.202	+0.061%	$81.6M	$25.1M	10x	as long as short