Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0365%/8h= +39.9% APRpaid last 24h +0.029%

Price spread now: dYdX against OKX−0.018%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$258as in the Funding arb table

Net, price: spread back to 7d avg − costs−$294as in the Price arb table

costs, in and out, $10k−$2892.891% of the position

Long on OKX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.311%+$31 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now −0.018%, 7d avg +0.027%

Together, before fees+0.380%+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.046% cheaper against OKX than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.027%). If the spread goes back, that is −$5 on $10k: about 10 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.311% in total) that is about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LINK-USDT-SWAP	13.169	0.0100	pay 0.0100% / 8h	7h 27m	$27.6M	$84.5M	50x
Short	dYdX LINK-USD	13.167	0.0465	get 0.0058% / 1h	27m 07s	$349K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against OKX. 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 OKXbpFee dYdXbpOrdersPrice spread, now −0.018%Rate

Funding earned: $76.56
Price spread: −0.018% → +0.027%: −$4.57
Slippage, 4 orders: −$269.08
Fee OKX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$217.09
Costs to cover: 2.891%
Break-even: 26.8 days

Slippage from OKX: live order book, 2 min ago; dYdX: live order book, 47 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 OKX live order book, 2 min ago	0.38 bp	7.5 bp −$7	13.4 bp −$134	29.7 bp −$2,967	doesn't fit
Sell dYdX live order book, 47 min ago	44.42 bp	224.7 bp −$225	228.2 bp −$2,282	228.6 bp −$22.9K	238.7 bp −$119.4K

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 −0.0091% / S +0.0167%	1h	13.176	+0.050%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.178	+0.067%	$474K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.177	+0.057%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.839%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.174	+0.035%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	13.174	+0.038%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.173	+0.029%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.209	+0.302%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.171	+0.011%	$404K	$309K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.176	+0.053%	$1.4M	$3.0M	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	13.169	+0.003%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.172	+0.023%	$122.4M	$301.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.169	0.000%	$84.7M	$70.9M	75x	as long as short
OKX LINK-USDT-SWAPlong	+0.0100%	8h	13.169	long leg	$27.6M	$84.5M	50x
Arcus LINK-USD	+0.0100%	1h	13.186	+0.129%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.172	+0.023%	$130.4M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.173	+0.030%	$37.2M	$58.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.179	+0.076%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.174	+0.038%	$54.8M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.172	+0.023%	—	$20.9M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.175	+0.049%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.162	−0.057%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.174	+0.040%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.167	−0.015%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.182	+0.099%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.174	+0.038%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.188	+0.145%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.173	+0.030%	$5K	$28K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.157	−0.089%	$647K	$850K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.171	+0.013%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.177	+0.062%	$553K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0107%	1h	13.182	+0.096%	$783K	$211K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.186	+0.129%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0187%	1h	13.182	+0.099%	$367K	$368K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.178	+0.068%	$5.3M	$16.0M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.182	+0.102%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.176	+0.050%	$5K	—	20x	as long as short
dYdX LINK-USDshort	+0.0465%	1h	13.167	−0.018%	$349K	$48K	10x
Phemex LINKUSDT	+0.0545%	8h	13.193	+0.182%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0579%	1h	13.189	+0.152%	$81.6M	$25.1M	10x	as long as short