LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.068%

Price spread now: Hyperliquid against gTrade (Gains Network)−0.008%77s7-day average +0.088% · 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—prices read too far apart to compare

costs, in and out, $10k−$2972.974% of the position

Long on gTrade (Gains Network)Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.182%+$18 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now −0.008%, 7d avg +0.088%

Together, before fees+0.200%+ Points / potential airdropHyperliquid: Season 2 · farm board+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.096% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.088%). If the spread goes back, that is −$10 on $10k: about 3.3 days of funding at the current rate (+$3 a day). The two prices were read 77 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	13.070	L +0.0004% / S −0.0001%	pay 0.0000% / 1h	5m 04s	$107K	—	150x
Short	Hyperliquid LINK	13.069	0.0100	get 0.0013% / 1h	5m 04s	$81.6M	$27.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.008%Rate

Funding earned: $20.17
Price spread: −0.008% → +0.088%: −$9.56
Slippage, 4 orders: −$278.37
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$286.77
Costs to cover: 2.974%
Break-even: 106.5 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 24 min ago; Hyperliquid: live order book, 9 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), 24 min ago	130.03 bp	141.1 bp −$141	963.5 bp −$9,635	10292.4 bp −$1.03M	doesn't fit
Sell Hyperliquid live order book, 9 min ago	0.38 bp	7.8 bp −$8	9.5 bp −$95	doesn't fit	doesn't fit

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
Orderly PERP_LINK_USDC	−0.0128%	8h	13.054	−0.122%	$91K	$916K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	13.071	+0.007%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.072	+0.012%	$501K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0001%	1h	13.070	long leg	$107K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.126%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	13.065	−0.036%	$6.5M	$8.3M	50x	as long as short
Phoenix LINK	+0.0087%	1h	13.062	−0.059%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.060	−0.076%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.064	−0.048%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.053	−0.125%	$351K	$315K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINKshort	+0.0100%	1h	13.069	−0.008%	$81.6M	$27.5M	10x
Aster LINKUSDT	+0.0100%	8h	13.062	−0.061%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.064	−0.042%	$278K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.055	−0.114%	$120.7M	$287.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.053	−0.129%	$84.6M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.058	−0.091%	$27.5M	$77.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.078	+0.062%	$183K	$86K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.063	−0.053%	$135.2M	$18.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.060	−0.076%	$36.3M	$60.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.066	−0.030%	$23.2M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.054	−0.122%	$54.6M	$28.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.059	−0.083%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.064	−0.045%	$339K	$371K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.065	−0.035%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.057	−0.099%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.057	−0.100%	$591K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.066	−0.030%	$134K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.062	−0.060%	$83K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.068	−0.018%	$34K	$1.3M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.061	−0.068%	$15K	$59K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.037	−0.250%	$626K	$679K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.056	−0.109%	$624K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.062	−0.057%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	13.050	−0.152%	$937K	$3.2M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0194%	1h	13.066	−0.026%	$872K	$322K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.062	−0.060%	$5.3M	$16.1M	75x	as long as short
Phemex LINKUSDT	+0.0262%	8h	13.074	+0.031%	$20.2M	$11.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0404%	1h	13.052	−0.137%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0869%	1h	13.069	−0.008%	$351K	$48K	10x	as long as short