Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0326%/8h= +35.7% APRpaid last 24h +0.054%

Price spread now: dYdX against SunX−0.078%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$1721.716% of the position

Long on SunX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.295%+$29 on $10k

Price spread, last 4 days (all we have)−0.065%−$7 · spread now −0.078%, 7d avg −0.091%

Together, before fees+0.229%+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.091%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	12.979	0.0100	pay 0.0100% / 8h	4h 08m	$34K	$1.2M	30x
Short	dYdX LINK-USD	12.968	0.0426	get 0.0053% / 1h	8m 22s	$349K	$20K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against SunX. 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 SunXbpFee dYdXbpOrdersPrice spread, now −0.078%Rate

Funding earned: $68.46
Price spread: −0.078% → −0.091%: $1.27
Slippage, 4 orders: −$153.6
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$101.87
Costs to cover: 1.716%
Break-even: 17.4 days

Slippage from SunX: live order book, 9 min ago; dYdX: live order book, 34 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 SunX live order book, 9 min ago	13.68 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 34 min ago	57.58 bp	71.8 bp −$72	152.9 bp −$1,529	183.3 bp −$18.3K	240.3 bp −$120.1K

LINK on 40 exchanges

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	−0.0274%	8h	12.956	−0.173%	$84K	$715K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.962	−0.129%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.972	−0.052%	$488K	$2.0M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.962	−0.124%	$115K	—	150x	as long as short
Phoenix LINK	+0.0025%	1h	12.969	−0.075%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.457%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0056%	8h	12.946	−0.251%	$3.4M	$1.7M	—	as long as short
Lighter LINK	+0.0096%	1h	12.958	−0.161%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.960	−0.146%	$31K	$600	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.980	+0.015%	$350K	$273K	10x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.972	−0.050%	$81.6M	$25.3M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.969	−0.076%	$1.2M	$2.6M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.966	−0.093%	$275K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.961	−0.135%	$120.6M	$259.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.957	−0.166%	$84.1M	$65.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.960	−0.143%	$27.5M	$72.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.981	+0.019%	$181K	$83K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.961	−0.135%	$133.8M	$17.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.962	−0.127%	$34.6M	$53.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.965	−0.104%	$23.5M	$11.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.956	−0.173%	$54.1M	$25.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.963	−0.119%	—	$23.1M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.982	+0.027%	$329K	$345K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.961	−0.132%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.958	−0.161%	$589K	$3.2M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.958	−0.158%	$105K	$680K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.966	−0.096%	$83K	$56K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.958	−0.161%	$16K	$17K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	12.979	long leg	$34K	$1.2M	30x
SoDEX LINK-USD	+0.0100%	1h	12.959	−0.150%	$11K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.959	−0.153%	$594K	$727K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.953	−0.199%	$607K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.961	−0.133%	$544K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.970	−0.065%	$988K	$3.0M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0214%	1h	12.963	−0.120%	$6.6M	$7.4M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.984	+0.042%	$5.4M	$15.2M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0275%	1h	12.968	−0.079%	$899K	$370K	50x	as long as short
Phemex LINKUSDT	+0.0367%	8h	12.974	−0.035%	$20.1M	$10.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0412%	1h	12.957	−0.165%	$4K	—	20x	as long as short
dYdX LINK-USDshort	+0.0426%	1h	12.968	−0.078%	$349K	$20K	10x