Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0216%/8h= +23.7% APRpaid last 24h +0.059%

Price spread now: BloFin against gTrade (Gains Network)+0.068%50s7-day average −0.001% · 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−$2992.992% of the position

Long on gTrade (Gains Network)Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.212%+$21 on $10k

Price spread, last 3 days (all we have)−0.101%−$10 · spread now +0.068%, 7d avg −0.001%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BloFin is 0.068% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.001%. The two prices were read 50 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	gTrade (Gains Network) LINK/USD	13.175	L +0.0004% / S −0.0007%	pay 0.0001% / 1h	11m 54s	$133K	—	150x
Short	BloFin LINK-USDT	13.184	0.0220	get 0.0220% / 8h	7h 11m	$5.2M	$15.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.068%Rate

Funding earned: $45.36
Price spread: +0.068% → −0.001%: $6.81
Slippage, 4 orders: −$277.19
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$247.02
Costs to cover: 2.992%
Break-even: 45.1 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 57 min ago; BloFin: live order book, 7 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), 57 min ago	130.01 bp	141.0 bp −$141	963.5 bp −$9,635	10292.4 bp −$1.03M	doesn't fit
Sell BloFin live order book, 7 min ago	1.52 bp	7.5 bp −$8	8.8 bp −$88	18.9 bp −$1,894	51.2 bp −$25.6K

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	13.174	−0.007%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.186	+0.081%	$465K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0007%	1h	13.175	long leg	$133K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.883%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.142	−0.255%	$4K	$89K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0061%	1h	13.180	+0.033%	$783K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	13.173	−0.016%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.176	+0.005%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.238	+0.479%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.171	−0.031%	$404K	$309K	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	13.180	+0.037%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.185	+0.072%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.177	+0.014%	$122.3M	$299.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.175	−0.001%	$84.9M	$70.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.177	+0.014%	$27.6M	$84.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.198	+0.174%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.172	−0.024%	$130.4M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.172	−0.024%	$36.7M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.177	+0.014%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.172	−0.024%	$54.6M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.173	−0.016%	—	$20.9M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.154	−0.157%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.176	+0.004%	$44K	$311K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.179	+0.032%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.180	+0.037%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.183	+0.060%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.172	−0.022%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.194	+0.144%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.175	−0.001%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.146	−0.219%	$648K	$867K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.168	−0.057%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.176	+0.007%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.185	+0.075%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0177%	1h	13.180	+0.037%	$365K	$362K	15x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	13.184	+0.068%	$5.2M	$15.4M	75x
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.182	+0.053%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.168	−0.057%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0428%	1h	13.180	+0.034%	$349K	$48K	10x	as long as short
Hyperliquid LINK	+0.0557%	1h	13.192	+0.126%	$81.5M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0612%	8h	13.193	+0.136%	$20.4M	$11.5M	50x	as long as short