Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0532%/8h= +58.2% APRpaid last 24h +0.024%

Price spread now: dYdX against edgeX−0.028%51s7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as 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−$1331.329% of the position

Long on edgeX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.248%+$25 on $10k

Price spread, last 4 days (all we have)−0.749%−$75 · spread now −0.028%, 7d avg +0.018%

Together, before fees−0.501%+ Points / potential airdropedgeX: Active · farm board−$50 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.047% cheaper against edgeX than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of +0.018%). If the spread goes back, that is −$5 on $10k: about 7 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.248% in total) that is about 32 hours. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.248% in total (about 12.9% a year). A funding rate is set anew for every payment. 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	edgeX LINKUSDC	13.027	0.0100	pay 0.0050% / 4h	1h 55m	$43K	$307K	20x
Short	dYdX LINK-USD	13.023	0.0632	get 0.0079% / 1h	55m 41s	$345K	$30K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against edgeX. 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 edgeXbpFee dYdXbpOrdersPrice spread, now −0.028%Rate

Funding earned: $111.65
Price spread: −0.028% → +0.018%: −$4.66
Slippage, 4 orders: −$113.85
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$25.86
Costs to cover: 1.329%
Break-even: 8.6 days

Slippage from edgeX: live order book, 7 min ago; dYdX: live order book, 8 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 edgeX live order book, 7 min ago	2.30 bp	6.8 bp −$7	9.9 bp −$99	doesn't fit	doesn't fit
Sell dYdX live order book, 8 min ago	54.59 bp	59.6 bp −$60	144.0 bp −$1,440	199.1 bp −$19.9K	339.7 bp −$169.9K

LINK on 39 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	13.036	+0.070%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.992	−0.264%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.031	+0.035%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.810%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.030	+0.028%	$3K	$83K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.004	−0.173%	$952K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.030	+0.026%	$118K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.994	−0.252%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.039	+0.097%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.033	+0.049%	$396K	$316K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.017	−0.074%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.032	+0.042%	$275K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.994	−0.250%	$119.6M	$297.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.990	−0.281%	$84.0M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.993	−0.258%	$27.4M	$82.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.052	+0.195%	$183K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.014	−0.096%	$128.4M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.013	−0.104%	$32.2M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.014	−0.096%	$23.1M	$13.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.006	−0.158%	$54.1M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.004	−0.173%	—	$22.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.025	−0.012%	$340K	$378K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.034	+0.060%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	13.027	long leg	$43K	$307K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.023	−0.025%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.039	+0.095%	$134K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.046	+0.149%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.030	+0.029%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.054	+0.211%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.030	+0.026%	$5K	$46K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.024	−0.024%	$642K	$685K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.008	−0.140%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.033	+0.048%	$547K	$2K	3x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.035	+0.068%	$4K	—	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0479%	1h	13.036	+0.071%	$774K	$212K	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0553%	1h	13.032	+0.044%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0567%	8h	13.036	+0.072%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0610%	1h	13.020	−0.050%	$81.4M	$26.6M	10x	as long as short
dYdX LINK-USDshort	+0.0632%	1h	13.023	−0.028%	$345K	$30K	10x