Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0157%/8h= −17.2% APRpaid last 24h +0.023%

Price spread now: MEXC against Deribit+0.015%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.177%+$18 on $10k

Price spread, last 4 days (all we have)−0.232%−$23 · spread now +0.015%, 7d avg −0.002%

Together, before fees−0.056%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.177%, 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	13.017	0.0257	pay 0.0032% / 1h	10m 41s	$773K	$175K	50x
Short	MEXC LINK_USDT	13.019	0.0100	get 0.0100% / 8h	5h 10m	$32.6M	$57.4M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$32.97
Price spread: +0.015% → −0.002%: $1.74
Slippage, 4 orders: −$11.72
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$49.95
Costs to cover: 0.187%
Break-even: never at this rate

Slippage from Deribit: live order book, 53 min ago; MEXC: live order book, 3 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, 53 min ago	4.60 bp	8.1 bp −$8	15.2 bp −$152	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.38 bp	0.4 bp $0	3.4 bp −$34	25.1 bp −$2,514	47.6 bp −$23.8K

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	13.000	−0.130%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.000	−0.128%	$482K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.003	−0.110%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.740%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	13.009	−0.061%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.014	−0.023%	$963K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.014	−0.020%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.026	+0.066%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.019	+0.016%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.997	−0.154%	$393K	$311K	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	13.013	−0.027%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.017	+0.004%	$275K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.016	−0.009%	$120.3M	$296.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.014	−0.023%	$84.1M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.016	−0.008%	$27.4M	$82.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.031	+0.108%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.010	−0.054%	$128.5M	$12.8M	75x	as long as short
MEXC LINK_USDTshort	+0.0100%	8h	13.019	+0.015%	$32.6M	$57.4M	300x
KuCoin LINKUSDTM	+0.0100%	8h	13.020	+0.023%	$23.0M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.016	−0.008%	$54.1M	$29.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.013	−0.031%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.020	+0.023%	$345K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	−0.215%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.009	−0.059%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.996	−0.163%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.017	0.000%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.004	−0.100%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.008	−0.070%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.017	−0.001%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.012	−0.038%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.972	−0.346%	$640K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.010	−0.052%	$647K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.014	−0.023%	$546K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.010	−0.054%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUALlong	+0.0257%	1h	13.017	long leg	$773K	$175K	50x
Reya LINKRUSDPERP	+0.0388%	1h	12.996	−0.163%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.015	−0.014%	$6.8M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0575%	1h	13.016	−0.007%	$345K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0590%	8h	13.026	+0.069%	$20.1M	$11.4M	50x	as long as short
Hyperliquid LINK	+0.0652%	1h	13.032	+0.115%	$82.0M	$27.4M	10x	as long as short