Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h −0.035%

Price spread now: OKX against dYdX−0.083%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$309as in the Funding arb table

Net, price: spread back to 7d avg − costs−$283as in the Price arb table

costs, in and out, $10k−$2772.772% of the position

Long on dYdX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.314%−$31 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now −0.083%, 7d avg −0.027%

Together, before fees−0.282%−$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.055% cheaper against dYdX than usual: you would sell low and buy high (spread −0.083% now, against its 7-day average of −0.027%). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.314%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	13.133	0.0012	pay 0.0002% / 1h	0m 01s	$348K	$60K	10x
Short	OKX LINK-USDT-SWAP	13.122	0.0100	get 0.0100% / 8h	2h 00m	$27.7M	$85.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.083%Rate

Funding earned: $18.48
Price spread: −0.083% → −0.027%: −$5.53
Slippage, 4 orders: −$257.15
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$264.2
Costs to cover: 2.772%
Break-even: 107.1 days

Slippage from dYdX: live order book, 24 min ago; OKX: 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, 24 min ago	125.69 bp	130.7 bp −$131	130.7 bp −$1,307	131.7 bp −$13.2K	191.2 bp −$95.6K
Sell OKX live order book, 4 min ago	0.38 bp	7.3 bp −$7	15.8 bp −$158	29.4 bp −$2,945	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	13.134	+0.006%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.141	+0.060%	$470K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.137	+0.029%	$717K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.134	+0.013%	$133K	—	150x	as long as short
dYdX LINK-USDlong	+0.0012%	1h	13.133	long leg	$348K	$60K	10x
Phoenix LINK	+0.0018%	1h	13.132	−0.003%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.580%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.131	−0.014%	$133K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.134	+0.008%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.128	−0.037%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.130	−0.018%	$399K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.140	+0.057%	$77.4M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.133	+0.003%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.133	+0.004%	$275K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.125	−0.060%	$121.5M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.124	−0.067%	$84.5M	$69.9M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	13.122	−0.083%	$27.7M	$85.7M	50x
Arcus LINK-USD	+0.0100%	1h	13.148	+0.115%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.131	−0.014%	$130.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.121	−0.090%	$36.5M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.130	−0.022%	$22.2M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.126	−0.052%	$54.3M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.115	−0.136%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.143	+0.078%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.135	+0.013%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.112	−0.161%	$588K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.126	−0.052%	$153K	$665K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.137	+0.032%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.129	−0.033%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.152	+0.144%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.130	−0.022%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.075	−0.438%	$643K	$907K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.122	−0.083%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.137	+0.031%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.150	+0.131%	$990K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0115%	1h	13.138	+0.039%	$366K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.149	+0.123%	$5.3M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.134	+0.005%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0482%	8h	13.148	+0.115%	$20.3M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0505%	1h	13.136	+0.022%	$6.9M	$8.0M	50x	as long as short