LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0081%/8h= −8.9% APRnext payment −$0.10 per $10,000 · paid last 24h −0.004%

Price spread now: Polymarket Perps against Backpack−0.151%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.375%−$38 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Polymarket Perps is 0.151% cheaper against Backpack than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LINK_USDC_PERP	13.221	0.0181	pay 0.0023% / 1h	13m 52s	$366K	$363K	15x
Short	Polymarket Perps LINK-USD	13.201	0.0100	get 0.0013% / 1h	13m 52s	$82K	$69K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Backpack. 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 BackpackbpFee Polymarket PerpsbpOrdersPrice spread, now −0.151%Rate

Funding earned: −$16.99
Price spread: −0.151% → 0.000%: −$15.13
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$50.12
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 60 min ago; Polymarket Perps: no order-book sample. Net counts fees only.

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 Backpack live order book, 60 min ago	0.38 bp	7.0 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps no order-book sample	—	—	—	—	—

Polymarket Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	13.206	−0.117%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.199	−0.165%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.204	−0.129%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.210%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.142	−0.601%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.204	−0.129%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.209	−0.092%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.231	+0.079%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.186	−0.265%	$404K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.212	−0.069%	$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	13.191	−0.223%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.196	−0.187%	$122.5M	$299.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.190	−0.234%	$85.0M	$70.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.193	−0.212%	$27.6M	$84.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.207	−0.106%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.198	−0.174%	$130.7M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.192	−0.219%	$37.1M	$59.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.204	−0.129%	$23.1M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.184	−0.280%	$54.7M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.188	−0.250%	—	$21.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.154	−0.503%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.139	−0.617%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.140	−0.611%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.150	−0.537%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USDshort	+0.0100%	1h	13.201	−0.151%	$82K	$69K	10x
Derive LINK-PERP	+0.0100%	1h	13.202	−0.147%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.208	−0.101%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.207	−0.106%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.190	−0.231%	$650K	$867K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.182	−0.294%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.206	−0.115%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.210	−0.083%	$1.0M	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0136%	1h	13.211	−0.075%	$785K	$212K	50x	as long as short
Backpack LINK_USDC_PERPlong	+0.0181%	1h	13.221	long leg	$366K	$363K	15x
BloFin LINK-USDT	+0.0220%	8h	13.184	−0.280%	$5.2M	$15.4M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0363%	1h	13.216	−0.038%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.196	−0.188%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0447%	1h	13.190	−0.238%	$349K	$48K	10x	as long as short
Hyperliquid LINK	+0.0561%	1h	13.227	+0.045%	$81.7M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0577%	8h	13.216	−0.038%	$20.4M	$11.5M	50x	as long as short