Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0325%/8h= −35.6% APRpaid last 24h −0.031%

Price spread now: Gate against dYdX−0.015%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$335as in the Funding arb table

Net, price: spread back to 7d avg − costs−$301as in the Price arb table

costs, in and out, $10k−$3023.022% of the position

Long on dYdX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.329%−$33 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.015%, 7d avg −0.022%

Together, before fees−0.376%−$38 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	13.200	0.0425	pay 0.0053% / 1h	9m 33s	$350K	$48K	10x
Short	Gate LINK_USDT	13.198	0.0100	get 0.0100% / 8h	7h 09m	$130.7M	$12.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.015%Rate

Funding earned: −$68.25
Price spread: −0.015% → −0.022%: $0.74
Slippage, 4 orders: −$277.18
Fee dYdX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$369.69
Costs to cover: 3.022%
Break-even: never at this rate

Slippage from dYdX: live order book, 65 min ago; Gate: live order book, 4 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, 65 min ago	44.42 bp	49.4 bp −$49	55.2 bp −$552	101.1 bp −$10.1K	139.2 bp −$69.6K
Sell Gate live order book, 4 min ago	1.89 bp	11.9 bp −$12	23.0 bp −$230	35.9 bp −$3,594	77.6 bp −$38.8K

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 −0.0091% / S +0.0167%	1h	13.197	−0.026%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.202	+0.018%	$465K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.199	−0.008%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.060%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.187	−0.101%	$4K	$89K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0038%	1h	13.196	−0.032%	$784K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	13.193	−0.053%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.199	−0.008%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.247	+0.358%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.200	−0.003%	$405K	$307K	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	13.202	+0.018%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.199	−0.010%	$277K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.196	−0.028%	$122.5M	$298.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.193	−0.053%	$85.0M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.193	−0.053%	$27.6M	$84.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.211	+0.084%	$185K	$167K	10x	as long as short
Gate LINK_USDTshort	+0.0100%	8h	13.198	−0.015%	$130.7M	$12.5M	75x
MEXC LINK_USDT	+0.0100%	8h	13.199	−0.007%	$36.7M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.200	0.000%	$23.0M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.196	−0.030%	$54.7M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.200	0.000%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.169	−0.232%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.174	−0.199%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	−0.122%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.180	−0.151%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.206	+0.046%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.191	−0.071%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.218	+0.136%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.183	−0.128%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.182	−0.134%	$650K	$867K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.196	−0.028%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.190	−0.072%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.188	−0.090%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0171%	1h	13.199	−0.007%	$365K	$361K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.176	−0.181%	$5.2M	$15.4M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.191	−0.067%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.196	−0.029%	$5K	—	20x	as long as short
dYdX LINK-USDlong	+0.0425%	1h	13.200	long leg	$350K	$48K	10x
Phemex LINKUSDT	+0.0509%	8h	13.203	+0.023%	$20.4M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0555%	1h	13.217	+0.129%	$81.6M	$25.0M	10x	as long as short