Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Derive against edgeX+0.311%226s7-day average — · you sell dearer than you buy

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

Long on edgeX Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.311% dearer against edgeX than usual: you sell high and buy low, +$31 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 226 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX LINKUSDC	12.879	0.0100	pay 0.0050% / 4h	3h 53m	$43K	$307K	20x
Short	Derive LINK-PERP	12.919	0.0100	get 0.0013% / 1h	53m 24s	$16K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against edgeX. 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 edgeXbpFee DerivebpOrdersPrice spread, now +0.311%Rate

Funding earned: $0
Price spread: +0.311% → 0.000%: $31.13
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Derive: 3 bp × 2 orders: −$6
Net: $16.13
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: edgeX: live order book, 45 min ago; Derive: no order-book sample. 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 edgeX live order book, 45 min ago	2.33 bp	6.8 bp −$7	9.9 bp −$99	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Orderly PERP_LINK_USDC	−0.0104%	8h	12.891	+0.091%	$90K	$1.0M	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.898	+0.143%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.912	+0.252%	$514K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.899	+0.150%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.721%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.898	+0.149%	$6.4M	$8.4M	50x	as long as short
Phoenix LINK	+0.0087%	1h	12.910	+0.237%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.896	+0.130%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.898	+0.143%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.896	+0.130%	$349K	$336K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.914	+0.270%	$80.6M	$28.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.907	+0.215%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.897	+0.136%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.907	+0.216%	$119.2M	$297.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.902	+0.177%	$83.6M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.907	+0.216%	$27.1M	$80.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.919	+0.309%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.897	+0.138%	$133.8M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.907	+0.216%	$34.8M	$57.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.909	+0.231%	$22.9M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.902	+0.177%	$53.9M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.899	+0.153%	—	$23.2M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.891	+0.094%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	12.879	long leg	$43K	$307K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	12.882	+0.024%	$580K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.873	−0.048%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.909	+0.231%	$82K	$71K	10x	as long as short
Derive LINK-PERPshort	+0.0100%	1h	12.919	+0.311%	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	12.912	+0.257%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.897	+0.138%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.866	−0.104%	$629K	$745K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.894	+0.118%	$615K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.901	+0.169%	$541K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0127%	1h	12.905	+0.200%	$335K	$385K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0184%	1h	12.904	+0.193%	$807K	$268K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.941	+0.480%	$930K	$3.1M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.878	−0.010%	$5.3M	$15.8M	75x	as long as short
dYdX LINK-USD	+0.0363%	1h	12.901	+0.166%	$344K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0402%	1h	12.904	+0.195%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0457%	8h	12.915	+0.278%	$20.0M	$11.5M	50x	as long as short