Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0085%/8h= −9.3% APRpaid last 24h +0.037%

Price spread now: dYdX against Gate−0.103%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$255as in the Funding arb table

Net, price: spread back to 7d avg − costs−$301as in the Price arb table

costs, in and out, $10k−$2892.890% of the position

Long on Gate Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.335%+$34 on $10k

Price spread, last 4 days (all we have)+0.175%+$18 · spread now −0.103%, 7d avg +0.021%

Together, before fees+0.510%+$51 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.124% cheaper against Gate than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.021%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.335%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	13.166	0.0100	pay 0.0100% / 8h	2h 11m	$130.7M	$12.8M	75x
Short	dYdX LINK-USD	13.152	0.0015	get 0.0002% / 1h	11m 18s	$348K	$60K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.103%Rate

Funding earned: −$17.9
Price spread: −0.103% → +0.021%: −$12.45
Slippage, 4 orders: −$263.98
Fee Gate: 7.5 bp × 2 orders: −$15
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$319.33
Costs to cover: 2.890%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; dYdX: live order book, 13 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, 3 min ago	0.76 bp	15.0 bp −$15	22.3 bp −$223	40.3 bp −$4,034	82.5 bp −$41.2K
Sell dYdX live order book, 13 min ago	125.69 bp	130.7 bp −$131	130.7 bp −$1,307	133.9 bp −$13.4K	195.3 bp −$97.6K

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 −0.0092% / S +0.0167%	1h	13.169	+0.021%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.166	+0.004%	$470K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.163	−0.021%	$719K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.165	−0.004%	$133K	—	150x	as long as short
dYdX LINK-USDshort	+0.0015%	1h	13.152	−0.103%	$348K	$60K	10x
Phoenix LINK	+0.0018%	1h	13.150	−0.125%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.818%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.155	−0.084%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.161	−0.042%	$2.1M	$2.4M	10x	as long as short
Variational Omni LINK	+0.0097%	8h	13.185	+0.144%	$3.3M	$1.5M	—	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	13.156	−0.078%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.162	−0.027%	$400K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.177	+0.084%	$77.7M	$23.7M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.168	+0.013%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.156	−0.079%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.161	−0.038%	$122.2M	$302.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.154	−0.091%	$84.7M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.158	−0.061%	$27.9M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.172	+0.046%	$185K	$172K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	13.166	long leg	$130.7M	$12.8M	75x
MEXC LINK_USDT	+0.0100%	8h	13.169	+0.023%	$36.8M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.170	+0.030%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.154	−0.091%	$54.5M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.167	+0.008%	—	$6.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.182	+0.122%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.141	−0.189%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.184	+0.137%	$153K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.168	+0.015%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.148	−0.135%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.184	+0.136%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.155	−0.084%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.130	−0.273%	$646K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.152	−0.104%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.160	−0.048%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.161	−0.038%	$990K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0114%	1h	13.161	−0.038%	$366K	$373K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.159	−0.053%	$5.3M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.165	−0.004%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0464%	8h	13.176	+0.076%	$20.4M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0503%	1h	13.164	−0.018%	$6.9M	$7.9M	50x	as long as short