Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against KuCoin−0.282%51s7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$880.885% of the position

Long on KuCoin Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 3 days (all we have)+0.251%+$25 · spread now −0.282%, 7d avg −0.073%

Together, before fees+0.332%+$33 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.209% cheaper against KuCoin than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.073%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	13.045	0.0100	pay 0.0100% / 8h	5h 51m	$23.1M	$13.6M	75x
Short	HTX LINK-USDT	13.008	0.0100	get 0.0100% / 8h	5h 51m	$642K	$685K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.282%Rate

Funding earned: $0
Price spread: −0.282% → −0.073%: −$20.89
Slippage, 4 orders: −$64.49
Fee KuCoin: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$109.38
Costs to cover: 0.885%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; HTX: live order book, 12 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	13.2 bp −$13	20.3 bp −$203	doesn't fit	doesn't fit
Sell HTX live order book, 12 min ago	23.83 bp	30.4 bp −$30	197.0 bp −$1,970	doesn't fit	doesn't fit

LINK on 39 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	13.034	−0.083%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.037	−0.058%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.037	−0.064%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.944%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.036	−0.069%	$955K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.035	−0.077%	$118K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.038	−0.057%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.002	−0.328%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.035	−0.080%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.032	−0.100%	$396K	$316K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.038	−0.055%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.039	−0.045%	$275K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.041	−0.031%	$120.0M	$296.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.036	−0.069%	$84.3M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.037	−0.061%	$27.5M	$82.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.051	+0.046%	$183K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.039	−0.046%	$128.7M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.043	−0.015%	$32.3M	$56.7M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	13.045	long leg	$23.1M	$13.6M	75x
Bitget LINKUSDT	+0.0100%	8h	13.041	−0.031%	$54.2M	$30.0M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.038	−0.054%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.034	−0.082%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.001	−0.337%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.019	−0.199%	$588K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.001	−0.337%	$133K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.049	+0.031%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.038	−0.054%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.048	+0.023%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.035	−0.077%	$5K	$46K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	13.008	−0.282%	$642K	$685K	75x
Extended LINK-USD	+0.0104%	1h	13.033	−0.092%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.042	−0.021%	$547K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0110%	1h	13.041	−0.031%	$341K	$378K	15x	as long as short
dYdX LINK-USD	+0.0268%	1h	13.036	−0.066%	$345K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.039	−0.046%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0553%	1h	13.036	−0.066%	$6.8M	$8.0M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0571%	1h	13.044	−0.008%	$775K	$212K	50x	as long as short
Phemex LINKUSDT	+0.0588%	8h	13.047	+0.015%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0705%	1h	13.063	+0.138%	$81.8M	$26.5M	10x	as long as short