Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.044%

Price spread now: MEXC against Hyperliquid−0.054%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$150.154% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 7 days+0.041%+$4 · spread now −0.054%, 7d avg −0.060%

Together, before fees−0.051%+ Points / potential airdropHyperliquid: Season 2 · farm board−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LINK	13.018	0.0100	pay 0.0013% / 1h	14m 56s	$81.3M	$27.7M	10x
Short	MEXC LINK_USDT	13.011	0.0100	get 0.0100% / 8h	7h 14m	$35.6M	$59.8M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Hyperliquid. 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 HyperliquidbpFee MEXCbpOrdersPrice spread, now −0.054%Rate

Funding earned: $0
Price spread: −0.054% → −0.060%: $0.62
Slippage, 4 orders: −$6.38
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: −$14.76
Costs to cover: 0.154%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; MEXC: 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 Hyperliquid live order book, 9 min ago	0.39 bp	8.3 bp −$8	13.9 bp −$139	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.38 bp	0.4 bp $0	2.9 bp −$29	26.2 bp −$2,624	45.4 bp −$22.7K

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
Orderly PERP_LINK_USDC	−0.0125%	8h	12.992	−0.200%	$91K	$924K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	13.004	−0.109%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.004	−0.111%	$498K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0002%	1h	12.996	−0.169%	$107K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.747%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	13.004	−0.110%	$6.5M	$8.4M	50x	as long as short
Phoenix LINK	+0.0087%	1h	12.970	−0.366%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.004	−0.109%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.998	−0.157%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.989	−0.219%	$350K	$322K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINKlong	+0.0100%	1h	13.018	long leg	$81.3M	$27.7M	10x
Aster LINKUSDT	+0.0100%	8h	13.014	−0.031%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.998	−0.152%	$276K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.013	−0.038%	$120.2M	$291.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.010	−0.061%	$84.2M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.012	−0.046%	$27.3M	$78.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.007	−0.084%	$182K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.012	−0.046%	$134.9M	$17.8M	75x	as long as short
MEXC LINK_USDTshort	+0.0100%	8h	13.011	−0.054%	$35.6M	$59.8M	300x
KuCoin LINKUSDTM	+0.0100%	8h	13.012	−0.046%	$23.1M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.012	−0.046%	$54.4M	$29.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.010	−0.061%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.007	−0.084%	$337K	$376K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.995	−0.180%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.973	−0.346%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.959	−0.455%	$582K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.979	−0.300%	$133K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.995	−0.177%	$83K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.007	−0.081%	$34K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.999	−0.146%	$12K	$58K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.977	−0.313%	$634K	$676K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.003	−0.114%	$621K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.000	−0.138%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.995	−0.177%	$934K	$3.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.990	−0.215%	$5.3M	$16.0M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0350%	1h	13.007	−0.088%	$840K	$299K	50x	as long as short
Phemex LINKUSDT	+0.0364%	8h	13.016	−0.015%	$20.1M	$11.4M	50x	as long as short
Reya LINKRUSDPERP	+0.0404%	1h	12.989	−0.225%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.1055%	1h	12.993	−0.192%	$349K	$49K	10x	as long as short