Funding arb · Price arb /

LINK

all LINK markets

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 edgeX+0.053%7-day average +0.051% · you sell dearer than you buy

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

Long on edgeX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.244%−$24 on $10k

Price spread, last 3 days (all we have)−0.018%−$2 · spread now +0.053%, 7d avg +0.051%

Together, before fees−0.262%+ Points / potential airdropedgeX: Active · farm board−$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.051%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX LINKUSDC	12.955	0.0100	pay 0.0050% / 4h	2h 30m	$43K	$309K	20x
Short	GMX LINK/USD [LINK-USDC]	12.962	L −0.0090% / S +0.0167%	pay 0.0021% / 1h	30m 51s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against edgeX. 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 edgeXbpFee GMXbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$56.07
Price spread: +0.053% → +0.051%: $0.14
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$76.93
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 37 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 edgeX live order book, 37 min ago	2.65 bp	7.2 bp −$7	10.8 bp −$108	209.7 bp −$21.0K	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	12.962	+0.053%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.965	+0.082%	$471K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.961	+0.045%	$149K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.282%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.978	+0.180%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	12.959	+0.033%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.951	−0.029%	$952K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.958	+0.025%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.000	+0.346%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.958	+0.029%	$394K	$317K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.965	+0.079%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.963	+0.066%	$275K	$164K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.962	+0.058%	$119.1M	$305.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.956	+0.010%	$83.6M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.961	+0.048%	$27.3M	$84.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.975	+0.156%	$181K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.964	+0.071%	$128.0M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.965	+0.079%	$33.1M	$59.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.965	+0.079%	$22.5M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.962	+0.056%	$53.9M	$31.0M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.962	+0.056%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.969	+0.110%	$337K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.952	−0.017%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDClong	+0.0100%	4h	12.955	long leg	$43K	$309K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	12.943	−0.089%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.958	+0.025%	$133K	$684K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.968	+0.102%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.959	+0.033%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.974	+0.150%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.961	+0.048%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.950	−0.034%	$639K	$864K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.960	+0.042%	$658K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.971	+0.129%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0221%	1h	12.967	+0.095%	$770K	$212K	50x	as long as short
dYdX LINK-USD	+0.0302%	1h	12.955	+0.004%	$343K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	12.963	+0.064%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0393%	1h	12.973	+0.141%	$79.5M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0503%	1h	12.965	+0.081%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0636%	8h	12.978	+0.179%	$20.0M	$11.5M	50x	as long as short