Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0267%/8h= −29.2% APRpaid last 24h −0.066%

Price spread now: GMX against Aster−0.105%7-day average −0.007% · you buy dearer than you sell

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

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.249%−$25 on $10k

Price spread, last 3 days (all we have)+0.099%+$10 · spread now −0.105%, 7d avg −0.007%

Together, before fees−0.151%+ Points / potential airdropAster: Stage 5 · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and GMX is 0.098% cheaper against Aster than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster LINKUSDT	12.980	0.0100	pay 0.0100% / 8h	6h 10m	$1.3M	$3.0M	50x
Short	GMX LINK/USD [LINK-USDC]	12.966	L −0.0090% / S +0.0167%	pay 0.0021% / 1h	10m 20s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$56.07
Price spread: −0.105% → −0.007%: −$9.81
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$85.88
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 3 min ago; GMX: no order-book sample. 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 Aster live order book, 3 min ago	1.54 bp	8.2 bp −$8	20.0 bp −$200	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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]short	L −0.0090% / S +0.0167%	1h	12.966	−0.105%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.996	+0.124%	$475K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.967	−0.100%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.465%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.005	+0.193%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.965	−0.112%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.993	+0.104%	$952K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0089%	1h	12.972	−0.055%	$770K	$212K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.977	−0.019%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.981	+0.012%	$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	12.975	−0.035%	$394K	$319K	10x	as long as short
Aster LINKUSDTlong	+0.0100%	8h	12.980	long leg	$1.3M	$3.0M	50x
Pacifica LINK	+0.0100%	1h	12.978	−0.009%	$275K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.968	−0.092%	$119.3M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.963	−0.127%	$83.6M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.967	−0.097%	$27.3M	$83.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.996	+0.127%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.972	−0.058%	$127.9M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.974	−0.043%	$33.1M	$59.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.976	−0.027%	$23.0M	$14.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.965	−0.112%	$53.9M	$30.8M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.969	−0.081%	—	$23.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.979	−0.002%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.991	+0.091%	$43K	$311K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.991	+0.090%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.989	+0.073%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.978	−0.012%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.968	−0.091%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.984	+0.031%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.970	−0.074%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.919	−0.468%	$637K	$857K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.964	−0.121%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.971	−0.065%	$544K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0127%	1h	12.996	+0.127%	$338K	$383K	15x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	12.967	−0.094%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0410%	1h	12.976	−0.029%	$344K	$35K	10x	as long as short
Hyperliquid LINK	+0.0463%	1h	12.989	+0.073%	$80.7M	$26.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0503%	1h	12.974	−0.044%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0613%	8h	13.008	+0.219%	$20.1M	$11.5M	50x	as long as short