LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0195%/8h= −21.4% APRnext payment −$0.24 per $10,000 · paid last 24h −0.060%

Price spread now: Extended against Hyperliquid−0.139%7-day average −0.116% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$240.242% of the position

Long on Hyperliquid Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days+0.064%+$6 · spread now −0.139%, 7d avg −0.116%

Together, before fees−0.005%+ Points / potential airdropHyperliquid: Season 2 · Extended: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Extended is 0.023% cheaper against Hyperliquid than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.116%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.069% in total (about -3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.24 per $10,000. 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	Hyperliquid LINK	12.907	0.0299	pay 0.0037% / 1h	8m 10s	$80.5M	$27.5M	10x
Short	Extended LINK-USD	12.889	0.0104	get 0.0013% / 1h	8m 10s	$628K	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.139%Rate

Funding earned: −$40.98
Price spread: −0.139% → −0.116%: −$2.29
Slippage, 4 orders: −$10.22
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$67.48
Costs to cover: 0.242%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Extended: live order book, 5 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, 6 min ago	0.39 bp	7.3 bp −$7	9.3 bp −$93	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	2.32 bp	6.3 bp −$6	7.7 bp −$77	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	12.892	−0.113%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.892	−0.117%	$483K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.894	−0.101%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.928%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0052%	8h	12.891	−0.124%	$115K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.910	+0.024%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.894	−0.099%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.895	−0.093%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.889	−0.139%	$389K	$310K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.893	−0.105%	$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	12.898	−0.070%	$276K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.896	−0.088%	$119.6M	$300.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.890	−0.132%	$83.2M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.895	−0.093%	$27.3M	$80.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.914	+0.054%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.891	−0.124%	$125.1M	$13.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.895	−0.093%	$33.1M	$57.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.897	−0.077%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.894	−0.101%	$54.0M	$29.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.893	−0.108%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.899	−0.062%	$338K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.902	−0.038%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.934	+0.207%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.932	+0.194%	$580K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.936	+0.225%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.901	−0.046%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.890	−0.131%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.907	−0.002%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.894	−0.101%	$9K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.871	−0.281%	$631K	$678K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	12.889	−0.139%	$628K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	12.896	−0.081%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.886	−0.163%	$919K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.901	−0.046%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.898	−0.069%	$6.6M	$8.2M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0254%	1h	12.899	−0.064%	$788K	$215K	50x	as long as short
Hyperliquid LINKlong	+0.0299%	1h	12.907	long leg	$80.5M	$27.5M	10x
Reya LINKRUSDPERP	+0.0393%	1h	12.890	−0.133%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0564%	8h	12.912	+0.039%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0824%	1h	12.894	−0.105%	$342K	$32K	10x	as long as short