LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.025%

Price spread now: Backpack against Injective+4.137%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.944%−$94 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 4.137% dearer against Injective than usual: you sell high and buy low: +$414 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.944%, 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	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	10m 15s	$4K	$48K	12x
Short	Backpack LINK_USDC_PERP	12.913	0.0100	get 0.0013% / 1h	10m 15s	$338K	$391K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Injective. 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 InjectivebpFee BackpackbpOrdersPrice spread, now +4.137%Rate

Funding earned: $14
Price spread: +4.137% → 0.000%: $413.71
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Backpack: 5 bp × 2 orders: −$10
Net: $417.69
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Backpack: live order book, 43 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Backpack live order book, 43 min ago	0.38 bp	9.3 bp −$9	154.5 bp −$1,545	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	12.902	+4.045%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.910	+4.114%	$491K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.903	+4.054%	$184K	—	150x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0051%	8h	12.900	+4.032%	$115K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.940	+4.357%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.904	+4.067%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.902	+4.051%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.903	+4.060%	$390K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.906	+4.081%	$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	12.906	+4.082%	$276K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.909	+4.101%	$119.8M	$300.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.899	+4.024%	$83.3M	$73.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.902	+4.048%	$27.3M	$80.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.921	+4.202%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.904	+4.065%	$127.8M	$13.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.905	+4.073%	$33.2M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.909	+4.105%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.903	+4.056%	$53.8M	$29.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.904	+4.065%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERPshort	+0.0100%	1h	12.913	+4.137%	$338K	$391K	15x
Variational Omni LINK	+0.0100%	8h	12.902	+4.049%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.934	+4.304%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.932	+4.290%	$580K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.936	+4.323%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.910	+4.113%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.900	+4.033%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.914	+4.146%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.904	+4.065%	$9K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.885	+3.911%	$632K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.899	+4.028%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.906	+4.082%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.923	+4.218%	$921K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0207%	1h	12.909	+4.101%	$786K	$213K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.917	+4.169%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.911	+4.124%	$6.6M	$8.2M	50x	as long as short
Hyperliquid LINK	+0.0302%	1h	12.917	+4.169%	$80.6M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0393%	1h	12.901	+4.038%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0566%	8h	12.922	+4.210%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0858%	1h	12.903	+4.055%	$343K	$32K	10x	as long as short