LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0247%/8h= −27.0% APRnext payment −$0.31 per $10,000 · paid last 24h −0.056%

Price spread now: Deribit against dYdX+0.065%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1191.192% of the position

Long on dYdX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.494%−$49 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now +0.065%, 7d avg −0.004%

Together, before fees−0.422%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.069% dearer against dYdX than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of −0.004%): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	12.958	0.0414	pay 0.0052% / 1h	22m 33s	$343K	$30K	10x
Short	Deribit LINK_USDC-PERPETUAL	12.966	0.0167	get 0.0021% / 1h	22m 33s	$779K	$202K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against dYdX. 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 dYdXbpFee DeribitbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$51.83
Price spread: +0.065% → −0.004%: $6.94
Slippage, 4 orders: −$102.21
Fee dYdX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$164.1
Costs to cover: 1.192%
Break-even: never at this rate

Slippage from dYdX: live order book, 37 min ago; Deribit: live order book, 36 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 dYdX live order book, 37 min ago	46.47 bp	51.5 bp −$51	51.5 bp −$515	180.5 bp −$18.0K	598.1 bp −$299.0K
Sell Deribit live order book, 36 min ago	4.64 bp	8.1 bp −$8	doesn't fit	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 −0.0090% / S +0.0167%	1h	12.957	−0.003%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.968	+0.078%	$519K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.960	+0.016%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.303%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	12.957	−0.004%	$117K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.956	−0.011%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.965	+0.058%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.970	+0.099%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.960	+0.016%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.961	+0.027%	$392K	$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	12.961	+0.027%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.959	+0.011%	$274K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.965	+0.056%	$120.0M	$297.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.954	−0.027%	$83.5M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.957	−0.004%	$27.4M	$81.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.980	+0.173%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.956	−0.012%	$128.1M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.958	+0.004%	$33.0M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.960	+0.019%	$22.7M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.960	+0.019%	$53.9M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.960	+0.019%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.966	+0.065%	$339K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.954	−0.027%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.967	+0.076%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.967	+0.074%	$581K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.975	+0.135%	$133K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.966	+0.065%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.959	+0.012%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.977	+0.147%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.962	+0.034%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.909	−0.371%	$633K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.959	+0.009%	$632K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.962	+0.034%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0167%	1h	12.966	+0.065%	$779K	$202K	50x
BloFin LINK-USDT	+0.0220%	8h	12.966	+0.065%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0366%	1h	12.972	+0.112%	$81.2M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.957	−0.005%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.964	+0.053%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USDlong	+0.0414%	1h	12.958	long leg	$343K	$30K	10x
Phemex LINKUSDT	+0.0531%	8h	12.975	+0.135%	$20.0M	$11.4M	50x	as long as short