Spread before costs (cost unknown: a leg has no order-book sample)−0.055%
7d average—if it closes, per $10,000$5funding while held, a day+$0.00
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid LINK | 12.809 | 0.0100 | pay 0.0013% / 1h | 0m 45s | $74.8M | $22.1M | 10x |
| Short | Polymarket Perps LINK-USD | 12.802 | 0.0100 | get 0.0013% / 1h | 0m 45s | $76K | $56K | 10x |
Hyperliquid LINK
Polymarket Perps LINK-USDPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$5.46
- Funding while held
- $0
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$22.46
- Spread needed to break even
- 0.170%
Slippage unknown: Hyperliquid: live order book, 4 min ago; Polymarket Perps: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- 0.0000%
- Per $10,000 a day
- +$0.00
- Average in range /8h
- —
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, 4 min ago | 0.78 bp | 7.3 bp −$7 | 13.2 bp −$132 | doesn't fit | doesn't fit |
| Sell Polymarket Perps no order-book sample | — | — | — | — | — |
Polymarket Perps: 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 price on every exchange
against the cheapest. Click to use as the short leg.Injective12.400cheapestApeX Omni12.753+2.847%edgeX12.755+2.866%Phoenix12.769+2.978%HTX12.775+3.026%Variational Omni12.779+3.053%Nado12.784+3.101%Pacifica12.789+3.140%Paradex12.792+3.161%Coinbase International12.793+3.169%Bybit12.796+3.194%BloFin12.796+3.194%dYdX12.796+3.197%Reya12.797+3.203%Arcus12.798+3.210%OKX12.799+3.218%Kalshi12.800+3.226%Gate12.801+3.234%Extended12.801+3.235%BingX12.802+3.242%
Injective
ApeX Omni
Phoenix
HTX
Variational Omni
Nado
Pacifica
Paradex
Coinbase International
Bybit
BloFin
dYdX
Reya
Arcus
OKX
Gate
Extended
BingXPolymarket Perps12.802+3.242%
KuCoin12.803+3.250%Bitget12.803+3.250%SoDEX12.803+3.250%Derive12.804+3.257%Binance12.805+3.264%Aster12.805+3.264%MEXC12.805+3.266%Kraken Futures12.808+3.287%SunX12.808+3.292%GMX12.808+3.293%gTrade (Gains Network)12.809+3.295%
KuCoin
Bitget
SoDEX
Derive
Binance
Aster
MEXC
Kraken Futures
SunX
GMX
gTrade (Gains Network)Hyperliquid12.809+3.298%
Lighter12.809+3.299%Aevo12.809+3.302%Orderly12.810+3.306%Deribit12.812+3.325%Backpack12.814+3.339%Phemex12.819+3.379%
Lighter
Aevo
Orderly
Deribit
Backpack
PhemexLINK on 39 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective LINK/USDC PERP | −3.193% | +0.0033% | 1h | $4K | $48K | 12x | as long as short |
| ApeX Omni LINKUSDT | −0.437% | +0.0100% | 1h | $129K | $650K | 50x | as long as short |
| edgeX LINKUSDC | −0.418% | +0.0100% | 4h | $42K | $308K | 20x | as long as short |
| Phoenix LINK | −0.310% | −0.0080% | 1h | $6K | $46K | 10x | as long as short |
| HTX LINK-USDT | −0.264% | +0.0100% | 8h | $618K | $924K | 75x | as long as short |
| Variational Omni LINK | −0.237% | −0.0117% | 8h | $3.2M | $1.2M | — | as long as short |
| Nado LINK-PERP | −0.191% | +0.0100% | 1h | $424K | $301K | 10x | as long as short |
| Pacifica LINK | −0.153% | +0.0100% | 1h | $270K | $166K | 10x | as long as short |
| Paradex LINK-USD-PERP | −0.133% | +0.0082% | 8h | $31K | $2K | 20x | as long as short |
| Coinbase International LINK-PERP-INTX | −0.125% | +0.0072% | 1h | $984K | $2.6M | 50x | as long as short |
Show all 39 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Bybit LINKUSDT | −0.101% | −0.0212% | 8h | $81.7M | $64.1M | 75x | as long as short |
| BloFin LINK-USDT | −0.101% | +0.0143% | 8h | $5.1M | $13.6M | 75x | as long as short |
| dYdX LINK-USD | −0.099% | 0.0000% | 1h | $339K | $60K | 10x | as long as short |
| Reya LINKRUSDPERP | −0.092% | +0.0363% | 1h | $4K | $400 | 20x | as long as short |
| Arcus LINK-USD | −0.086% | +0.0100% | 1h | $179K | $125K | 10x | as long as short |
| OKX LINK-USDT-SWAP | −0.078% | −0.0032% | 8h | $26.6M | $84.2M | 50x | as long as short |
| Kalshi KXLINKPERP | −0.070% | 0.0000% | 8h | $466K | $2.3M | 3.7x | as long as short |
| Gate LINK_USDT | −0.062% | +0.0036% | 8h | $128.6M | $12.2M | 75x | as long as short |
| Extended LINK-USD | −0.062% | +0.0104% | 1h | $648K | $1.8M | 25x | as long as short |
| BingX LINK-USDT | −0.055% | +0.0087% | 8h | — | $24.9M | — | as long as short |
| Polymarket Perps LINK-USDshort | −0.055% | +0.0100% | 1h | $76K | $56K | 10x | |
| KuCoin LINKUSDTM | −0.047% | +0.0100% | 8h | $21.1M | $16.7M | 75x | as long as short |
| Bitget LINKUSDT | −0.047% | +0.0087% | 8h | $53.4M | $29.4M | 75x | as long as short |
| SoDEX LINK-USD | −0.047% | +0.0100% | 1h | $3K | $38K | 10x | as long as short |
| Derive LINK-PERP | −0.040% | +0.0100% | 1h | $24K | $10K | 10x | as long as short |
| Binance LINKUSDT | −0.034% | +0.0036% | 8h | $116.2M | $289.2M | 75x | as long as short |
| Aster LINKUSDT | −0.034% | +0.0100% | 8h | $1.3M | $2.4M | 50x | as long as short |
| MEXC LINK_USDT | −0.031% | +0.0035% | 8h | $33.1M | $58.2M | 300x | as long as short |
| Kraken Futures PF_LINKUSD | −0.011% | −0.0330% | 1h | $6.0M | $6.5M | 50x | as long as short |
| SunX LINK-USDT | −0.006% | +0.0100% | 8h | $33K | $1.5M | 30x | as long as short |
| GMX LINK/USD [LINK-USDC] | −0.005% | L −0.0091% / S +0.0165% | 1h | $1.7M | — | 200x | as long as short |
| gTrade (Gains Network) LINK/USD | −0.003% | L +0.0004% / S −0.0004% | 1h | $115K | — | 150x | as long as short |
| Hyperliquid LINKlong | 0.000% | +0.0100% | 1h | $74.8M | $22.1M | 10x | |
| Lighter LINK | 0.000% | +0.0096% | 1h | $2.0M | $2.4M | 10x | as long as short |
| Aevo LINK-PERP | +0.004% | +0.0088% | 1h | $539K | $340 | 3x | as long as short |
| Orderly PERP_LINK_USDC | +0.008% | +0.0070% | 8h | $142K | $1.7M | 20x | as long as short |
| Deribit LINK_USDC-PERPETUAL | +0.026% | 0.0000% | 1h | $680K | $106K | 50x | as long as short |
| Backpack LINK_USDC_PERP | +0.039% | +0.0100% | 1h | $348K | $373K | 15x | as long as short |
| Phemex LINKUSDT | +0.078% | +0.0431% | 8h | $19.9M | $11.2M | 50x | as long as short |