Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Derive against KuCoin+0.005%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	12.954	0.0100	pay 0.0100% / 8h	4h 15m	$22.8M	$13.4M	75x
Short	Derive LINK-PERP	12.955	0.0100	get 0.0013% / 1h	15m 54s	$16K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against KuCoin. 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 KuCoinbpFee DerivebpOrdersPrice spread, now +0.005%Rate

Funding earned: $0
Price spread: +0.005% → 0.000%: $0.52
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Derive: 3 bp × 2 orders: −$6
Net: −$17.48
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 min ago; Derive: no order-book sample. 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 KuCoin live order book, 3 min ago	1.93 bp	14.1 bp −$14	19.3 bp −$193	61.3 bp −$6,128	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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	12.954	0.000%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.964	+0.074%	$520K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.956	+0.012%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.277%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	12.953	−0.008%	$117K	$1.2M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.955	+0.011%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.970	+0.124%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.944	−0.081%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.956	+0.018%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.953	−0.012%	$392K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.958	+0.030%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.961	+0.058%	$275K	$177K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.957	+0.023%	$119.9M	$297.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.947	−0.054%	$83.5M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.948	−0.046%	$27.4M	$81.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.972	+0.139%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.950	−0.031%	$128.1M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.953	−0.008%	$32.7M	$56.9M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	12.954	long leg	$22.8M	$13.4M	75x
Bitget LINKUSDT	+0.0100%	8h	12.949	−0.039%	$53.8M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.954	0.000%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.960	+0.046%	$339K	$387K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.949	−0.037%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.948	−0.047%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.946	−0.059%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.956	+0.015%	$132K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.962	+0.062%	$81K	$70K	10x	as long as short
Derive LINK-PERPshort	+0.0100%	1h	12.955	+0.005%	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	12.971	+0.128%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.958	+0.031%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.954	−0.002%	$636K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.943	−0.085%	$632K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.959	+0.039%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0167%	1h	12.963	+0.069%	$779K	$202K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.960	+0.046%	$4.6M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0375%	1h	12.965	+0.085%	$81.2M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.953	−0.008%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.959	+0.041%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0417%	1h	12.965	+0.084%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0533%	8h	12.971	+0.131%	$20.0M	$11.4M	50x	as long as short