Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Gate against Bybit+0.039%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$400.401% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 7 days−0.032%−$3 · spread now +0.039%, 7d avg +0.014%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.025% dearer against Bybit than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LINKUSDT	12.833	0.0100	pay 0.0100% / 8h	24m 18s	$83.0M	$73.2M	75x
Short	Gate LINK_USDT	12.838	0.0100	get 0.0100% / 8h	24m 18s	$132.1M	$17.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now +0.039%Rate

Funding earned: $0
Price spread: +0.039% → +0.014%: $2.47
Slippage, 4 orders: −$14.05
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$37.58
Costs to cover: 0.401%
Break-even: never at this rate

Slippage from Bybit: live order book, 10 min ago; Gate: live order book, 5 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 Bybit live order book, 10 min ago	0.39 bp	7.6 bp −$8	14.4 bp −$144	38.0 bp −$3,804	doesn't fit
Sell Gate live order book, 5 min ago	1.17 bp	11.0 bp −$11	21.2 bp −$212	34.5 bp −$3,452	75.8 bp −$37.9K

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 −0.0087% / S +0.0165%	1h	12.847	+0.113%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0081%	8h	12.834	+0.008%	$90K	$1.0M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.853	+0.154%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.847	+0.109%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.374%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.857	+0.183%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.839	+0.050%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.838	+0.039%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.839	+0.051%	$345K	$342K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.849	+0.125%	$80.2M	$28.1M	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	12.843	+0.076%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.841	+0.062%	$273K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.841	+0.062%	$118.7M	$299.0M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	12.833	long leg	$83.0M	$73.2M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	12.837	+0.031%	$27.0M	$79.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.857	+0.187%	$180K	$99K	10x	as long as short
Gate LINK_USDTshort	+0.0100%	8h	12.838	+0.039%	$132.1M	$17.7M	75x
MEXC LINK_USDT	+0.0100%	8h	12.841	+0.062%	$34.5M	$58.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.843	+0.078%	$22.7M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.835	+0.016%	$53.7M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.839	+0.047%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.847	+0.109%	$334K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.835	+0.017%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.866	+0.256%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.855	+0.168%	$584K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.858	+0.195%	$131K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.843	+0.078%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.836	+0.025%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.855	+0.175%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.840	+0.055%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.807	−0.202%	$626K	$776K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0103%	1h	12.841	+0.064%	$6.4M	$8.5M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.832	−0.007%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.841	+0.066%	$539K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.866	+0.257%	$929K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.852	+0.148%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0264%	1h	12.847	+0.107%	$803K	$268K	50x	as long as short
Reya LINKRUSDPERP	+0.0401%	1h	12.834	+0.005%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0551%	8h	12.856	+0.179%	$19.8M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0576%	1h	12.840	+0.056%	$342K	$45K	10x	as long as short