Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.024%

Price spread now: dYdX against SunX−0.093%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$157as in the Price arb table

costs, in and out, $10k−$1561.564% of the position

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.248%+$25 on $10k

Price spread, last 3 days (all we have)−0.032%−$3 · spread now −0.093%, 7d avg −0.092%

Together, before fees+0.217%+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.092%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.248%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	12.991	0.0100	pay 0.0100% / 8h	5h 56m	$34K	$1.5M	30x
Short	dYdX LINK-USD	12.979	0	get 0.0000% / 1h	56m 45s	$344K	$30K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.093%Rate

Funding earned: −$21
Price spread: −0.093% → −0.092%: −$0.14
Slippage, 4 orders: −$138.39
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$177.53
Costs to cover: 1.564%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; dYdX: live order book, 7 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, 8 min ago	13.65 bp	18.0 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 7 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 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	12.980	−0.084%	$1.8M	—	200x	as long as short
dYdX LINK-USDshort	0.0000%	1h	12.979	−0.093%	$344K	$30K	10x
Kalshi KXLINKPERP	0.0000%	8h	12.981	−0.074%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.980	−0.083%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.549%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.030	+0.303%	$3K	$83K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.018	+0.209%	$953K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.977	−0.107%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.975	−0.120%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.979	−0.088%	$31K	$2K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.977	−0.103%	$395K	$317K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.988	−0.022%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.980	−0.082%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.018	+0.206%	$119.8M	$297.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.015	+0.186%	$84.2M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.017	+0.201%	$27.4M	$82.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.998	+0.055%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.996	+0.039%	$128.2M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.009	+0.139%	$32.2M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.003	+0.093%	$23.1M	$13.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.020	+0.224%	$54.1M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.012	+0.162%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.992	+0.008%	$339K	$378K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.019	+0.218%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.027	+0.275%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.023	+0.249%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.039	+0.370%	$134K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.984	−0.053%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.977	−0.105%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	12.991	long leg	$34K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	12.976	−0.115%	$5K	$46K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.972	−0.148%	$640K	$686K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.990	−0.007%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.978	−0.099%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0197%	1h	12.983	−0.061%	$771K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	12.975	−0.122%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0555%	1h	12.979	−0.089%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0621%	8h	12.996	+0.039%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0646%	1h	13.039	+0.370%	$81.5M	$26.5M	10x	as long as short