Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0335%/8h= −36.7% APRpaid last 24h −0.049%

Price spread now: SunX against dYdX+0.140%7-day average +0.090% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.300%−$30 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.140%, 7d avg +0.090%

Together, before fees−0.289%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.050% dearer against dYdX than usual: you sell high and buy low (spread +0.140% now, against its 7-day average of +0.090%): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.300% in total) that is about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	12.957	0.0435	pay 0.0054% / 1h	53m 47s	$348K	$46K	10x
Short	SunX LINK-USDT	12.975	0.0100	get 0.0100% / 8h	5h 53m	$33K	$1.2M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.140%Rate

Funding earned: −$70.32
Price spread: +0.140% → +0.090%: $4.98
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$83.34
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: dYdX: live order book, 58 min ago; SunX: live order book, 3 min ago. Net counts fees only.

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, 58 min ago	47.00 bp	52.0 bp −$52	52.0 bp −$520	54.3 bp −$5,430	168.4 bp −$84.2K
Sell SunX live order book, 3 min ago	250.15 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

LINK on 39 exchanges

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
Orderly PERP_LINK_USDC	−0.0194%	8h	12.949	−0.064%	$85K	$876K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.956	−0.012%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.967	+0.079%	$489K	$2.1M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.956	−0.010%	$115K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	12.980	+0.177%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.301%	$4K	$48K	12x	as long as short
HTX LINK-USDT	+0.0093%	8h	12.950	−0.059%	$608K	$677K	75x	as long as short
Variational Omni LINK	+0.0094%	8h	12.971	+0.108%	$3.4M	$1.8M	—	as long as short
Lighter LINK	+0.0096%	1h	12.956	−0.007%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.955	−0.021%	$31K	$600	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.959	+0.010%	$348K	$279K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.969	+0.091%	$81.6M	$25.2M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.961	+0.029%	$1.4M	$2.5M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.959	+0.010%	$275K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.957	−0.002%	$120.2M	$268.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.957	−0.002%	$83.8M	$66.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.957	−0.002%	$27.3M	$73.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.978	+0.160%	$183K	$83K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.963	+0.044%	$134.0M	$17.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.960	+0.021%	$35.7M	$54.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.962	+0.037%	$22.9M	$11.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.961	+0.029%	$54.3M	$26.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.961	+0.029%	—	$23.9M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.963	+0.044%	$335K	$352K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.985	+0.212%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.985	+0.211%	$582K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.998	+0.314%	$132K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.965	+0.060%	$83K	$64K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	12.975	+0.140%	$33K	$1.2M	30x
SoDEX LINK-USD	+0.0100%	1h	12.956	−0.010%	$11K	$61K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	12.958	+0.007%	$628K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.958	+0.008%	$543K	$2K	3x	as long as short
Kraken Futures PF_LINKUSD	+0.0173%	1h	12.959	+0.015%	$6.5M	$7.4M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0200%	1h	13.000	+0.330%	$977K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.966	+0.067%	$5.4M	$15.3M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0236%	1h	12.964	+0.050%	$888K	$355K	50x	as long as short
Reya LINKRUSDPERP	+0.0408%	1h	12.955	−0.014%	$4K	—	20x	as long as short
dYdX LINK-USDlong	+0.0435%	1h	12.957	long leg	$348K	$46K	10x
Phemex LINKUSDT	+0.0439%	8h	12.971	+0.106%	$20.0M	$10.2M	50x	as long as short