Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against BingX+0.122%46s7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3053.054% of the position

Long on BingX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.087%−$9 on $10k

Price spread, last 3 days (all we have)+0.151%+$15 · spread now +0.122%, 7d avg +0.019%

Together, before fees+0.065%+$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.102% dearer against BingX than usual: you sell high and buy low (spread +0.122% now, against its 7-day average of +0.019%): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.5 days. The two prices were read 46 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	BingX LINK-USDC	13.077	0.0100	pay 0.0100% / 8h	2h 52m	—	$6.6M	—
Short	gTrade (Gains Network) LINK/USD	13.093	L +0.0003% / S −0.0002%	get 0.0000% / 1h	52m 38s	$83K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BingX. 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 BingXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.122%Rate

Funding earned: −$20.51
Price spread: +0.122% → +0.019%: $10.23
Slippage, 4 orders: −$285.36
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$315.64
Costs to cover: 3.054%
Break-even: never at this rate

Slippage from BingX: live order book, 15 min ago; gTrade (Gains Network): virtual book (oracle venue), 36 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 BingX live order book, 15 min ago	0.76 bp	11.4 bp −$11	23.2 bp −$232	87.8 bp −$8,776	448.7 bp −$224.4K
Sell gTrade (Gains Network) virtual book (oracle venue), 36 min ago	130.05 bp	142.5 bp −$143	1049.2 bp −$10.5K	doesn't fit	doesn't fit

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 −0.0091% / S +0.0166%	1h	13.090	+0.102%	$1.7M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.084	+0.054%	$347K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.095	+0.141%	$457K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.090	+0.102%	$697K	$107K	50x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0003% / S −0.0002%	1h	13.093	+0.122%	$83K	—	150x
Phoenix LINK	+0.0018%	1h	13.127	+0.386%	$3K	$84K	10x	as long as short
Variational Omni LINK	+0.0031%	8h	13.109	+0.248%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.177%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	13.080	+0.023%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.083	+0.047%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.076	−0.004%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.078	+0.008%	$399K	$316K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.101	+0.184%	$78.0M	$23.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.089	+0.090%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.081	+0.031%	$274K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.074	−0.020%	$120.9M	$300.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.074	−0.023%	$84.3M	$69.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.075	−0.015%	$27.6M	$84.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.101	+0.184%	$184K	$170K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.082	+0.038%	$130.4M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.078	+0.008%	$35.6M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.081	+0.031%	$21.7M	$16.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.077	0.000%	$54.1M	$30.1M	75x	as long as short
BingX LINK-USDClong	+0.0100%	8h	13.077	long leg	—	$6.6M	—
Backpack LINK_USDC_PERP	+0.0100%	1h	13.101	+0.184%	$363K	$370K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.117	+0.304%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.133	+0.428%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.109	+0.245%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.096	+0.145%	$79K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.083	+0.043%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.098	+0.160%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.086	+0.069%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.037	−0.304%	$638K	$905K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.076	−0.005%	$665K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.090	+0.103%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.095	+0.138%	$989K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.090	+0.099%	$5.2M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.094	+0.133%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0506%	1h	13.096	+0.147%	$6.9M	$7.7M	50x	as long as short
Phemex LINKUSDT	+0.0510%	8h	13.103	+0.199%	$20.2M	$11.5M	50x	as long as short