Funding arb · Price arb /

LINK

all LINK markets

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 +0.013%

Price spread now: GRVT against Bybit+0.522%70s7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

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

costs, in and out, $10k−$350.349% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 7 days−0.468%−$47 · spread now +0.522%, 7d avg +0.012%

Together, before fees−0.454%+ Points / potential airdropGRVT: Active · farm board−$45 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: GRVT is 0.510% dearer against Bybit than usual: you sell high and buy low, +$51 on $10k if it goes back to its 7-day average of +0.012%. The two prices were read 70 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	Bybit LINKUSDT	12.831	0.0100	pay 0.0100% / 8h	2h 40m	$82.8M	$73.4M	75x
Short	GRVT LINK_USDT_Perp	12.898	0.0100	get 0.0100% / 8h	2h 40m	$585K	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.522%Rate

Funding earned: $0
Price spread: +0.522% → +0.012%: $50.99
Slippage, 4 orders: −$14.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $16.12
Costs to cover: 0.349%
Break-even: from the start

Slippage from Bybit: live order book, 4 min ago; GRVT: live order book, 3 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, 4 min ago	0.39 bp	7.1 bp −$7	12.0 bp −$120	34.0 bp −$3,402	doesn't fit
Sell GRVT live order book, 3 min ago	1.16 bp	9.6 bp −$10	13.7 bp −$137	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 −0.0089% / S +0.0166%	1h	12.829	−0.016%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.844	+0.099%	$499K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.831	0.000%	$183K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.359%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0046%	1h	12.854	+0.178%	$786K	$228K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0052%	8h	12.827	−0.031%	$99K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.879	+0.375%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.830	−0.006%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.829	−0.013%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.820	−0.082%	$342K	$342K	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	12.833	+0.016%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.832	+0.010%	$273K	$185K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.831	0.000%	$118.5M	$302.4M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	12.831	long leg	$82.8M	$73.4M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	12.835	+0.031%	$27.1M	$80.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.842	+0.086%	$179K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.820	−0.086%	$123.5M	$14.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.827	−0.031%	$32.8M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.828	−0.023%	$22.6M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.825	−0.047%	$53.6M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.830	−0.008%	—	$22.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.850	+0.148%	$337K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.841	+0.081%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.882	+0.399%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perpshort	+0.0100%	8h	12.898	+0.522%	$585K	$2.8M	10x
ApeX Omni LINKUSDT	+0.0100%	1h	12.884	+0.413%	$132K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.830	−0.008%	$80K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.845	+0.109%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.863	+0.247%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.848	+0.132%	$10K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.807	−0.186%	$629K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.816	−0.116%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.838	+0.058%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.856	+0.195%	$914K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.849	+0.140%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0246%	1h	12.836	+0.043%	$80.0M	$27.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0279%	1h	12.851	+0.158%	$6.6M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0394%	1h	12.823	−0.065%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0580%	8h	12.865	+0.265%	$19.9M	$11.2M	50x	as long as short
dYdX LINK-USD	+0.1029%	1h	12.828	−0.023%	$342K	$33K	10x	as long as short