Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0185%/8h= −20.3% APRpaid last 24h +0.017%

Price spread now: HTX against Deribit−0.299%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$810.812% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.219%+$22 on $10k

Price spread, last 4 days (all we have)+0.194%+$19 · spread now −0.299%, 7d avg −0.081%

Together, before fees+0.413%+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and HTX is 0.217% cheaper against Deribit than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.081%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.219%, 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	Deribit LINK_USDC-PERPETUAL	12.914	0.0285	pay 0.0036% / 1h	50m 18s	$807K	$259K	50x
Short	HTX LINK-USDT	12.875	0.0100	get 0.0100% / 8h	1h 50m	$631K	$786K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Deribit. 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 DeribitbpFee HTXbpOrdersPrice spread, now −0.299%Rate

Funding earned: −$38.85
Price spread: −0.299% → −0.081%: −$21.75
Slippage, 4 orders: −$62.2
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$141.8
Costs to cover: 0.812%
Break-even: never at this rate

Slippage from Deribit: live order book, 59 min ago; HTX: live order book, 58 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 Deribit live order book, 59 min ago	4.25 bp	7.7 bp −$8	13.6 bp −$136	doesn't fit	doesn't fit
Sell HTX live order book, 58 min ago	17.45 bp	32.1 bp −$32	221.2 bp −$2,212	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 −0.0089% / S +0.0166%	1h	12.906	−0.058%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.912	−0.011%	$511K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.905	−0.070%	$156K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0010%	8h	12.899	−0.115%	$94K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.979%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.893	−0.158%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.906	−0.057%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.907	−0.053%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.883	−0.239%	$349K	$339K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.908	−0.044%	$1.2M	$2.4M	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	12.907	−0.053%	$275K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.910	−0.028%	$119.1M	$301.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.906	−0.060%	$83.3M	$73.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.907	−0.053%	$27.0M	$81.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.921	+0.056%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.906	−0.060%	$124.2M	$15.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.909	−0.037%	$33.4M	$57.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.909	−0.037%	$22.8M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.906	−0.060%	$54.0M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.906	−0.060%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.890	−0.181%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.892	−0.168%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.894	−0.154%	$585K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.897	−0.130%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.913	−0.006%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.905	−0.071%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.919	+0.039%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.909	−0.037%	$10K	$61K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	12.875	−0.299%	$631K	$786K	75x
Extended LINK-USD	+0.0104%	1h	12.902	−0.095%	$629K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.908	−0.048%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.914	+0.002%	$933K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0134%	1h	12.907	−0.053%	$336K	$388K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.913	−0.004%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.891	−0.177%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUALlong	+0.0285%	1h	12.914	long leg	$807K	$259K	50x
Hyperliquid LINK	+0.0321%	1h	12.925	+0.087%	$80.6M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0397%	1h	12.906	−0.060%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0570%	8h	12.924	+0.079%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0954%	1h	12.901	−0.097%	$344K	$33K	10x	as long as short