Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0168%/8h= +18.4% APRpaid last 24h +0.024%

Price spread now: dYdX against HTX+0.143%7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$193as in the Funding arb table

Net, price: spread back to 7d avg − costs−$212as in the Price arb table

costs, in and out, $10k−$2182.176% of the position

Long on HTX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 3 days (all we have)−0.111%−$11 · spread now +0.143%, 7d avg +0.085%

Together, before fees+0.140%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and dYdX is 0.058% dearer against HTX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX LINK-USDT	13.025	0.0100	pay 0.0100% / 8h	6h 22m	$642K	$859K	75x
Short	dYdX LINK-USD	13.043	0.0268	get 0.0033% / 1h	22m 01s	$345K	$45K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against HTX. 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 HTXbpFee dYdXbpOrdersPrice spread, now +0.143%Rate

Funding earned: $35.27
Price spread: +0.143% → +0.085%: $5.77
Slippage, 4 orders: −$195.61
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$176.57
Costs to cover: 2.176%
Break-even: 42.0 days

Slippage from HTX: live order book, 47 min ago; dYdX: live order book, 47 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 HTX live order book, 47 min ago	20.97 bp	28.1 bp −$28	85.3 bp −$853	doesn't fit	doesn't fit
Sell dYdX live order book, 47 min ago	46.74 bp	110.7 bp −$111	166.9 bp −$1,669	181.6 bp −$18.2K	366.3 bp −$183.1K

LINK on 39 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	13.039	+0.112%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.051	+0.201%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.039	+0.107%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.796%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.024	−0.005%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.035	+0.079%	$118K	$1.5M	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0072%	1h	13.043	+0.144%	$775K	$212K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.049	+0.187%	$957K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.035	+0.081%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.047	+0.174%	$31K	$2K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.041	+0.125%	$396K	$322K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.043	+0.144%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.048	+0.182%	$277K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.028	+0.025%	$119.7M	$303.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.021	−0.028%	$84.1M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.019	−0.044%	$27.4M	$84.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.058	+0.256%	$183K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.030	+0.041%	$128.5M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.033	+0.064%	$33.1M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.043	+0.141%	$22.6M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.034	+0.071%	$54.2M	$30.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.034	+0.071%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.044	+0.151%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.024	−0.003%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.047	+0.171%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.048	+0.179%	$134K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.050	+0.194%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.038	+0.101%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.054	+0.225%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.034	+0.071%	$15K	$41K	10x	as long as short
HTX LINK-USDTlong	+0.0100%	8h	13.025	long leg	$642K	$859K	75x
Extended LINK-USD	+0.0104%	1h	13.033	+0.060%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.039	+0.113%	$547K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0119%	1h	13.041	+0.125%	$339K	$386K	15x	as long as short
dYdX LINK-USDshort	+0.0268%	1h	13.043	+0.143%	$345K	$45K	10x
Reya LINKRUSDPERP	+0.0384%	1h	13.044	+0.148%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0452%	1h	13.049	+0.187%	$80.7M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0500%	1h	13.039	+0.106%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0580%	8h	13.048	+0.179%	$20.1M	$11.5M	50x	as long as short