LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0290%/8h= +31.8% APRnext payment +$0.36 per $10,000 · paid last 24h +0.078%

Price spread now: Hyperliquid against Deribit+0.249%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.249%+$25 on $10k

Price spread, last 3 days (all we have)−0.246%−$25 · spread now +0.249%, 7d avg +0.084%

Together, before fees+0.004%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Hyperliquid is 0.164% dearer against Deribit than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LINK_USDC-PERPETUAL	13.102	0	get 0.0000% / 1h	4m 36s	$725K	$139K	50x
Short	Hyperliquid LINK	13.135	0.0290	get 0.0036% / 1h	4m 36s	$77.9M	$24.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.249%Rate

Funding earned: $60.99
Price spread: +0.249% → +0.084%: $16.45
Slippage, 4 orders: −$12.33
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $49.11
Costs to cover: 0.283%
Break-even: 1.4 days

Slippage from Deribit: live order book, 9 min ago; Hyperliquid: live order book, 9 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, 9 min ago	1.91 bp	6.2 bp −$6	11.6 bp −$116	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	0.38 bp	6.0 bp −$6	11.1 bp −$111	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 −0.0091% / S +0.0167%	1h	13.100	−0.016%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.105	+0.023%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUALlong	0.0000%	1h	13.102	long leg	$725K	$139K	50x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.101	−0.013%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.093	−0.071%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.361%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.095	−0.056%	$132K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.118	+0.118%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.118	+0.117%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.122	+0.153%	$400K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.121	+0.139%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.121	+0.144%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.123	+0.158%	$121.9M	$305.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.124	+0.165%	$84.6M	$71.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.124	+0.165%	$27.6M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.131	+0.218%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.119	+0.127%	$130.1M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.117	+0.111%	$36.2M	$58.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.122	+0.150%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.118	+0.119%	$54.6M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.118	+0.119%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.086	−0.127%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.097	−0.040%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.107	+0.035%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.100	−0.018%	$152K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.102	−0.003%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.096	−0.046%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.109	+0.050%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.097	−0.041%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.079	−0.177%	$643K	$880K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.117	+0.115%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.101	−0.009%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.111	+0.066%	$993K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0210%	1h	13.109	+0.050%	$362K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.096	−0.049%	$5.2M	$16.2M	75x	as long as short
Hyperliquid LINKshort	+0.0290%	1h	13.135	+0.249%	$77.9M	$24.0M	10x
Reya LINKRUSDPERP	+0.0380%	1h	13.097	−0.039%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.106	+0.029%	$6.9M	$8.3M	50x	as long as short
Phemex LINKUSDT	+0.0489%	8h	13.116	+0.104%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0518%	1h	13.120	+0.131%	$347K	$48K	10x	as long as short