Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%

Price spread now: BingX against gTrade (Gains Network)−0.020%7-day average −0.019% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$298as in the Price arb table

costs, in and out, $10k−$2982.979% of the position

Long on gTrade (Gains Network)Short on BingX

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)−0.072%−$7 · spread now −0.020%, 7d avg −0.019%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) LINK/USD	13.142	L +0.0004% / S −0.0006%	pay 0.0000% / 1h	28m 05s	$133K	—	150x
Short	BingX LINK-USDT	13.139	0.0100	get 0.0100% / 8h	28m 05s	—	$21.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $20.17
Price spread: −0.020% → −0.019%: −$0.08
Slippage, 4 orders: −$277.87
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$277.78
Costs to cover: 2.979%
Break-even: 103.4 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 46 min ago; BingX: live order book, 10 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 gTrade (Gains Network) virtual book (oracle venue), 46 min ago	130.05 bp	141.1 bp −$141	963.5 bp −$9,635	10292.4 bp −$1.03M	doesn't fit
Sell BingX live order book, 10 min ago	1.14 bp	7.6 bp −$8	9.4 bp −$94	17.9 bp −$1,794	41.7 bp −$20.8K

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 +0.0167%	1h	13.141	−0.003%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.152	+0.080%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.143	+0.014%	$725K	$133K	50x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0006%	1h	13.142	long leg	$133K	—	150x
Phoenix LINK	+0.0012%	1h	13.171	+0.222%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.643%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.138	−0.027%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.138	−0.029%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.142	+0.005%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.146	+0.033%	$401K	$311K	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	13.140	−0.012%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.147	+0.044%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.139	−0.020%	$122.2M	$304.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.136	−0.043%	$84.6M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.143	+0.011%	$27.7M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.160	+0.140%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.140	−0.012%	$130.2M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.140	−0.012%	$36.6M	$57.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.144	+0.018%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.137	−0.035%	$54.6M	$30.5M	75x	as long as short
BingX LINK-USDTshort	+0.0100%	8h	13.139	−0.020%	—	$21.3M	—
Variational Omni LINK	+0.0100%	8h	13.146	+0.033%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.162	+0.156%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	+0.027%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.173	+0.239%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.143	+0.011%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.137	−0.033%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.157	+0.120%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.138	−0.027%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.127	−0.110%	$646K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.136	−0.042%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.142	+0.004%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.146	+0.033%	$995K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.143	+0.011%	$5.3M	$17.3M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0244%	1h	13.148	+0.049%	$363K	$377K	15x	as long as short
Hyperliquid LINK	+0.0280%	1h	13.155	+0.105%	$78.0M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.137	−0.035%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0478%	1h	13.147	+0.039%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0485%	8h	13.160	+0.140%	$20.4M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0682%	1h	13.151	+0.071%	$348K	$48K	10x	as long as short