Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.017%

Price spread now: Bybit against gTrade (Gains Network)−0.083%7-day average −0.032% · 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−$304as in the Price arb table

costs, in and out, $10k−$2982.985% of the position

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.066%+$7 on $10k

Price spread, last 3 days (all we have)−0.198%−$20 · spread now −0.083%, 7d avg −0.032%

Together, before fees−0.131%−$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.051% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.083% now, against its 7-day average of −0.032%). If the spread goes back, that is −$5 on $10k: about 43 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) LINK/USD	13.093	L +0.0003% / S −0.0002%	pay 0.0000% / 1h	52m 57s	$83K	—	150x
Short	Bybit LINKUSDT	13.082	0.0100	get 0.0100% / 8h	2h 52m	$84.3M	$69.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.083%Rate

Funding earned: $20.27
Price spread: −0.083% → −0.032%: −$5.14
Slippage, 4 orders: −$277.49
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$283.36
Costs to cover: 2.985%
Break-even: 104.9 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 36 min ago; Bybit: live order book, 1 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), 36 min ago	130.05 bp	141.1 bp −$141	963.5 bp −$9,635	10292.4 bp −$1.03M	doesn't fit
Sell Bybit live order book, 1 min ago	0.38 bp	8.1 bp −$8	13.3 bp −$133	37.6 bp −$3,757	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 −0.0091% / S +0.0166%	1h	13.090	−0.019%	$1.7M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.085	−0.061%	$347K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.095	+0.019%	$457K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.090	−0.020%	$697K	$107K	50x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0003% / S −0.0002%	1h	13.093	long leg	$83K	—	150x
Phoenix LINK	+0.0018%	1h	13.127	+0.264%	$3K	$84K	10x	as long as short
Variational Omni LINK	+0.0031%	8h	13.109	+0.126%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.292%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	13.080	−0.099%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.091	−0.017%	$2.1M	$2.3M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.086	−0.054%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.093	+0.005%	$399K	$315K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.103	+0.077%	$78.0M	$23.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.088	−0.036%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.085	−0.064%	$274K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.082	−0.083%	$121.0M	$300.6M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.082	−0.083%	$84.3M	$69.2M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.090	−0.022%	$27.6M	$84.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.109	+0.123%	$184K	$170K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.087	−0.045%	$130.5M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.079	−0.106%	$35.6M	$55.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.089	−0.030%	$21.7M	$16.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.087	−0.045%	$54.1M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.081	−0.091%	—	$21.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.101	+0.062%	$363K	$370K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.117	+0.182%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.133	+0.306%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.109	+0.123%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.096	+0.024%	$79K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.083	−0.078%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.098	+0.038%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.086	−0.053%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.037	−0.425%	$638K	$905K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.087	−0.047%	$665K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.090	−0.019%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.095	+0.016%	$989K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.090	−0.022%	$5.2M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.094	+0.011%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0506%	1h	13.096	+0.026%	$6.9M	$7.7M	50x	as long as short
Phemex LINKUSDT	+0.0510%	8h	13.103	+0.077%	$20.2M	$11.5M	50x	as long as short