Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.051%

Price spread now: Bitget against Hyperliquid−0.061%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$330.333% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 7 days+0.024%+$2 · spread now −0.061%, 7d avg −0.074%

Together, before fees−0.033%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LINK	13.072	0.0100	pay 0.0013% / 1h	50m 43s	$77.4M	$23.4M	10x
Short	Bitget LINKUSDT	13.064	0.0100	get 0.0100% / 8h	2h 50m	$54.0M	$30.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hyperliquid. 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 HyperliquidbpFee BitgetbpOrdersPrice spread, now −0.061%Rate

Funding earned: $0
Price spread: −0.061% → −0.074%: $1.31
Slippage, 4 orders: −$12.28
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$31.97
Costs to cover: 0.333%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; Bitget: live order book, 3 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 Hyperliquid live order book, 3 min ago	0.38 bp	6.8 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.38 bp	7.5 bp −$8	12.9 bp −$129	27.7 bp −$2,773	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 +0.0165%	1h	13.062	−0.079%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.070	−0.018%	$455K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.063	−0.066%	$696K	$107K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.062	−0.075%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.082	+0.076%	$3K	$84K	10x	as long as short
Variational Omni LINK	+0.0031%	8h	13.109	+0.286%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.141%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	13.054	−0.138%	$134K	$1.6M	20x	as long as short
dYdX LINK-USD	+0.0079%	1h	13.068	−0.034%	$346K	$60K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.071	−0.011%	$2.1M	$2.4M	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	+0.0100%	8h	13.070	−0.014%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.056	−0.122%	$396K	$319K	10x	as long as short
Hyperliquid LINKlong	+0.0100%	1h	13.072	long leg	$77.4M	$23.4M	10x
Aster LINKUSDT	+0.0100%	8h	13.070	−0.016%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.067	−0.041%	$274K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.067	−0.035%	$120.9M	$301.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.071	−0.008%	$84.3M	$69.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.072	0.000%	$27.6M	$84.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.081	+0.069%	$183K	$170K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.067	−0.038%	$130.3M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.071	−0.008%	$35.3M	$55.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.071	−0.008%	$21.9M	$16.0M	75x	as long as short
Bitget LINKUSDTshort	+0.0100%	8h	13.064	−0.061%	$54.0M	$30.2M	75x
BingX LINK-USDT	+0.0100%	8h	13.069	−0.023%	—	$21.8M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.074	+0.015%	$362K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.089	+0.132%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.133	+0.467%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.089	+0.130%	$152K	$661K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.059	−0.099%	$79K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.060	−0.095%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.073	+0.008%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.059	−0.099%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.037	−0.265%	$638K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.066	−0.046%	$664K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.064	−0.061%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.063	−0.069%	$986K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.049	−0.176%	$5.2M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.057	−0.111%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0507%	1h	13.070	−0.018%	$6.9M	$7.7M	50x	as long as short
Phemex LINKUSDT	+0.0517%	8h	13.073	+0.008%	$20.2M	$11.5M	50x	as long as short