Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.026%

Price spread now: Deribit against SunX−0.113%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$540.535% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now −0.113%, 7d avg −0.094%

Together, before fees−0.133%−$13 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	12.899	0.0100	pay 0.0100% / 8h	4h 41m	$33K	$1.5M	30x
Short	Deribit LINK_USDC-PERPETUAL	12.884	0.0099	get 0.0012% / 1h	41m 39s	$769K	$193K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.113%Rate

Funding earned: −$0.21
Price spread: −0.113% → −0.094%: −$1.9
Slippage, 4 orders: −$38.52
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$55.63
Costs to cover: 0.535%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; Deribit: live order book, 17 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 SunX live order book, 3 min ago	13.66 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 17 min ago	4.64 bp	8.1 bp −$8	doesn't fit	doesn't fit	doesn't fit

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	12.882	−0.131%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.871	−0.215%	$486K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.884	−0.118%	$158K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.867%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0059%	8h	12.881	−0.138%	$116K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.888	−0.084%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.912	+0.102%	$940K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.897	−0.012%	$3K	$84K	10x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0099%	1h	12.884	−0.113%	$769K	$193K	50x
Paradex LINK-USD-PERP	+0.0100%	8h	12.888	−0.080%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.886	−0.095%	$390K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.886	−0.101%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.890	−0.066%	$273K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.889	−0.076%	$119.2M	$297.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.886	−0.099%	$83.1M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.887	−0.091%	$27.2M	$81.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.903	+0.033%	$180K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.880	−0.146%	$127.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.889	−0.076%	$32.1M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.891	−0.060%	$22.7M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.884	−0.115%	$53.6M	$29.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.882	−0.130%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.888	−0.084%	$337K	$389K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.878	−0.160%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.875	−0.182%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.886	−0.098%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.891	−0.060%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.890	−0.068%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.879	−0.151%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	12.899	long leg	$33K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	12.878	−0.161%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.832	−0.517%	$628K	$704K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.878	−0.160%	$628K	$2.1M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.881	−0.138%	$540K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.885	−0.107%	$5.2M	$15.6M	75x	as long as short
Hyperliquid LINK	+0.0351%	1h	12.900	+0.009%	$80.8M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0389%	1h	12.878	−0.162%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0397%	1h	12.882	−0.128%	$6.7M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0593%	8h	12.897	−0.014%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0617%	1h	12.884	−0.114%	$341K	$30K	10x	as long as short