Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: HTX against Injective+3.376%65s7-day average — · you sell dearer than you buy

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

Long on Injective Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.951%−$95 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and HTX is 3.376% dearer against Injective than usual: you sell high and buy low: +$338 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.951%, so the current rate has only just turned in your favour. The two prices were read 65 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	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	27m 52s	$4K	$48K	12x
Short	HTX LINK-USDT	12.819	0.0100	get 0.0100% / 8h	2h 27m	$629K	$678K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Injective. 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 InjectivebpFee HTXbpOrdersPrice spread, now +3.376%Rate

Funding earned: $14
Price spread: +3.376% → 0.000%: $337.58
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: $339.56
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; HTX: live order book, 21 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 Injective no order-book sample	—	—	—	—	—
Sell HTX live order book, 21 min ago	17.45 bp	32.1 bp −$32	221.2 bp −$2,212	doesn't fit	doesn't fit

Injective: 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
GMX LINK/USD [LINK-USDC]	L −0.0089% / S +0.0166%	1h	12.817	+3.365%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.834	+3.497%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.819	+3.375%	$155K	—	150x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0044%	8h	12.811	+3.315%	$94K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.848	+3.610%	$3K	$82K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0078%	1h	12.826	+3.435%	$792K	$241K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.825	+3.424%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.819	+3.377%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.822	+3.403%	$344K	$343K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.824	+3.417%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.827	+3.446%	$273K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.810	+3.308%	$117.9M	$303.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.808	+3.290%	$82.7M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.809	+3.298%	$27.1M	$79.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.840	+3.548%	$179K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.822	+3.403%	$123.6M	$15.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.811	+3.315%	$32.8M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.815	+3.347%	$22.6M	$13.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.807	+3.282%	$53.5M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.810	+3.306%	—	$23.2M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.833	+3.492%	$334K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.825	+3.423%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.839	+3.541%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.825	+3.430%	$580K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.838	+3.532%	$131K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.827	+3.444%	$80K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.818	+3.368%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.832	+3.488%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.821	+3.395%	$10K	$63K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	12.819	+3.376%	$629K	$678K	75x
Extended LINK-USD	+0.0104%	1h	12.805	+3.265%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.820	+3.388%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.833	+3.492%	$913K	$2.8M	50x	as long as short
Hyperliquid LINK	+0.0220%	1h	12.839	+3.540%	$79.9M	$27.6M	10x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.843	+3.573%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0279%	1h	12.823	+3.407%	$6.6M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0395%	1h	12.820	+3.384%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0587%	8h	12.837	+3.524%	$19.8M	$11.2M	50x	as long as short
dYdX LINK-USD	+0.0828%	1h	12.824	+3.421%	$342K	$33K	10x	as long as short