Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h −0.014%

Price spread now: Deribit against Gate+0.061%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$470.468% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.144%−$14 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now +0.061%, 7d avg +0.013%

Together, before fees−0.127%−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.049% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.013%. Mind the row above: over the last 7 days funding on this pair cost −0.144%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	12.889	0.0100	pay 0.0100% / 8h	3h 02m	$124.4M	$14.5M	75x
Short	Deribit LINK_USDC-PERPETUAL	12.897	0.0184	get 0.0023% / 1h	2m 54s	$788K	$215K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now +0.061%Rate

Funding earned: $17.64
Price spread: +0.061% → +0.013%: $4.85
Slippage, 4 orders: −$24.83
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$24.33
Costs to cover: 0.468%
Break-even: 16.7 days

Slippage from Gate: live order book, 1 min ago; Deribit: live order book, 51 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 Gate live order book, 1 min ago	1.16 bp	11.4 bp −$11	15.1 bp −$151	33.5 bp −$3,350	80.0 bp −$40.0K
Sell Deribit live order book, 51 min ago	3.07 bp	8.8 bp −$9	18.4 bp −$184	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	12.891	+0.013%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.910	+0.163%	$483K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.892	+0.023%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.794%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0052%	8h	12.888	−0.008%	$115K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.922	+0.255%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.891	+0.018%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.890	+0.005%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.890	+0.010%	$389K	$309K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.895	+0.049%	$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	12.896	+0.051%	$276K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.896	+0.054%	$119.5M	$300.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.891	+0.016%	$83.3M	$73.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.891	+0.016%	$27.3M	$80.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.911	+0.171%	$180K	$167K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	12.889	long leg	$124.4M	$14.5M	75x
MEXC LINK_USDT	+0.0100%	8h	12.894	+0.039%	$33.2M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.898	+0.070%	$22.7M	$13.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.893	+0.031%	$54.0M	$29.8M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.891	+0.016%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.897	+0.062%	$338K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.916	+0.211%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.916	+0.213%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.914	+0.196%	$580K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.912	+0.178%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.898	+0.070%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.887	−0.015%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.904	+0.116%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.893	+0.031%	$9K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.880	−0.073%	$632K	$677K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.887	−0.014%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.893	+0.035%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.898	+0.070%	$919K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0184%	1h	12.897	+0.061%	$788K	$215K	50x
BloFin LINK-USDT	+0.0220%	8h	12.895	+0.047%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.895	+0.044%	$6.6M	$8.2M	50x	as long as short
Hyperliquid LINK	+0.0298%	1h	12.906	+0.132%	$80.5M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0393%	1h	12.893	+0.035%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0568%	8h	12.910	+0.163%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0784%	1h	12.892	+0.022%	$342K	$32K	10x	as long as short