Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0324%/8h= +35.4% APRpaid last 24h +0.026%

Price spread now: dYdX against KuCoin−0.056%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1441.442% of the position

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.337%+$34 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now −0.056%, 7d avg +0.013%

Together, before fees+0.483%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.069% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of +0.013%). If the spread goes back, that is −$7 on $10k: about 17 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.337% in total) that is about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	13.019	0.0100	pay 0.0100% / 8h	5h 26m	$23.1M	$13.4M	75x
Short	dYdX LINK-USD	13.012	0.0424	get 0.0053% / 1h	26m 08s	$345K	$30K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.056%Rate

Funding earned: $67.98
Price spread: −0.056% → +0.013%: −$6.91
Slippage, 4 orders: −$122.18
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$83.11
Costs to cover: 1.442%
Break-even: 15.6 days

Slippage from KuCoin: live order book, 3 min ago; dYdX: live order book, 38 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 KuCoin live order book, 3 min ago	1.15 bp	13.7 bp −$14	22.0 bp −$220	65.6 bp −$6,564	doesn't fit
Sell dYdX live order book, 38 min ago	54.59 bp	59.6 bp −$60	144.0 bp −$1,440	199.1 bp −$19.9K	339.7 bp −$169.9K

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	13.010	−0.070%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.014	−0.038%	$481K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.012	−0.056%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.755%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.026	+0.054%	$965K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0065%	8h	13.011	−0.061%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.017	−0.018%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.044	+0.189%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.007	−0.092%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.016	−0.019%	$394K	$315K	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	13.017	−0.014%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.010	−0.067%	$274K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.021	+0.015%	$120.0M	$296.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.017	−0.015%	$84.1M	$71.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.017	−0.015%	$27.4M	$82.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.030	+0.084%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.017	−0.015%	$128.5M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.020	+0.008%	$32.1M	$57.1M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	13.019	long leg	$23.1M	$13.4M	75x
Bitget LINKUSDT	+0.0100%	8h	13.019	0.000%	$54.2M	$29.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.016	−0.023%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.024	+0.038%	$342K	$382K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.029	+0.075%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.014	−0.038%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.001	−0.138%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.034	+0.115%	$134K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.026	+0.054%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.013	−0.044%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.030	+0.086%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.021	+0.015%	$5K	$60K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.987	−0.244%	$641K	$687K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.012	−0.054%	$649K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.017	−0.018%	$546K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.998	−0.161%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0249%	1h	13.021	+0.014%	$773K	$174K	50x	as long as short
Reya LINKRUSDPERP	+0.0387%	1h	13.014	−0.037%	$4K	—	20x	as long as short
dYdX LINK-USDshort	+0.0424%	1h	13.012	−0.056%	$345K	$30K	10x
Kraken Futures PF_LINKUSD	+0.0553%	1h	13.024	+0.042%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0587%	8h	13.034	+0.115%	$20.1M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0649%	1h	13.036	+0.131%	$82.0M	$27.2M	10x	as long as short