Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h +0.024%

Price spread now: dYdX against HTX−0.332%7-day average +0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$193as in the Funding arb table

Net, price: spread back to 7d avg − costs−$259as in the Price arb table

costs, in and out, $10k−$2182.176% of the position

Long on HTX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 3 days (all we have)+0.363%+$36 · spread now −0.332%, 7d avg +0.085%

Together, before fees+0.614%+$61 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: dYdX is 0.417% cheaper against HTX than usual: you would sell low and buy high, −$42 on $10k if it goes back to its 7-day average of +0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX LINK-USDT	12.988	0.0100	pay 0.0100% / 8h	6h 42m	$641K	$870K	75x
Short	dYdX LINK-USD	12.945	0.0095	get 0.0012% / 1h	42m 47s	$343K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against HTX. 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 HTXbpFee dYdXbpOrdersPrice spread, now −0.332%Rate

Funding earned: −$1.04
Price spread: −0.332% → +0.085%: −$41.68
Slippage, 4 orders: −$195.61
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$260.33
Costs to cover: 2.176%
Break-even: never at this rate

Slippage from HTX: live order book, 26 min ago; dYdX: live order book, 26 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 HTX live order book, 26 min ago	20.97 bp	28.1 bp −$28	85.3 bp −$853	doesn't fit	doesn't fit
Sell dYdX live order book, 26 min ago	46.74 bp	110.7 bp −$111	166.9 bp −$1,669	181.6 bp −$18.2K	366.3 bp −$183.1K

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 −0.0090% / S +0.0167%	1h	12.994	+0.045%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.005	+0.132%	$467K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.996	+0.059%	$149K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.527%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0043%	1h	12.993	+0.039%	$772K	$212K	50x	as long as short
Phoenix LINK	+0.0049%	1h	12.976	−0.095%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.985	−0.023%	$118K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.986	−0.015%	$954K	$2.7M	50x	as long as short
dYdX LINK-USDshort	+0.0095%	1h	12.945	−0.332%	$343K	$48K	10x
Lighter LINK	+0.0096%	1h	12.942	−0.354%	$1.9M	$2.7M	10x	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	+0.0099%	8h	13.005	+0.134%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.995	+0.056%	$392K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.962	−0.200%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.945	−0.329%	$274K	$164K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.942	−0.354%	$119.6M	$304.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.941	−0.362%	$83.4M	$72.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.936	−0.400%	$27.2M	$83.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.011	+0.177%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.961	−0.208%	$128.0M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.945	−0.331%	$33.9M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.971	−0.131%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.941	−0.362%	$53.7M	$30.8M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.943	−0.346%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.987	−0.008%	$341K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.988	+0.004%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.009	+0.164%	$43K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.962	−0.203%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.015	+0.208%	$134K	$683K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.001	+0.100%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.987	−0.005%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.015	+0.205%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.989	+0.008%	$15K	$42K	10x	as long as short
HTX LINK-USDTlong	+0.0100%	8h	12.988	long leg	$641K	$870K	75x
Extended LINK-USD	+0.0104%	1h	12.954	−0.264%	$660K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.992	+0.027%	$545K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.004	+0.123%	$5.3M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0383%	1h	12.993	+0.035%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0429%	1h	12.959	−0.223%	$79.6M	$29.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.995	+0.052%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0563%	8h	13.000	+0.092%	$20.1M	$11.5M	50x	as long as short