Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.021%

Price spread now: OKX 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−$2982.984% of the position

Long on gTrade (Gains Network)Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.084%+$8 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now −0.020%, 7d avg −0.019%

Together, before fees+0.004%$0 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	12.921	L +0.0004% / S −0.0006%	pay 0.0001% / 1h	56m 14s	$184K	—	150x
Short	OKX LINK-USDT-SWAP	12.918	0.0100	get 0.0100% / 8h	2h 56m	$27.3M	$80.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $20.09
Price spread: −0.020% → −0.019%: −$0.06
Slippage, 4 orders: −$278.39
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$278.36
Costs to cover: 2.984%
Break-even: 104.0 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 53 min ago; OKX: live order book, 3 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), 53 min ago	130.07 bp	141.1 bp −$141	963.5 bp −$9,635	10292.4 bp −$1.03M	doesn't fit
Sell OKX live order book, 3 min ago	0.39 bp	8.0 bp −$8	13.4 bp −$134	27.5 bp −$2,749	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 −0.0089% / S +0.0166%	1h	12.920	−0.002%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.925	+0.033%	$484K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0006%	1h	12.921	long leg	$184K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.029%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0054%	8h	12.922	+0.011%	$116K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.890	−0.236%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.919	−0.009%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.912	−0.069%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.909	−0.092%	$342K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.923	+0.020%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.913	−0.059%	$275K	$185K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.923	+0.016%	$119.7M	$300.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.916	−0.036%	$83.3M	$73.3M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	12.918	−0.020%	$27.3M	$80.5M	50x
Arcus LINK-USD	+0.0100%	1h	12.928	+0.057%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.916	−0.036%	$124.3M	$14.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.920	−0.005%	$33.1M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.922	+0.011%	$22.7M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.917	−0.028%	$54.3M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.919	−0.012%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.923	+0.019%	$339K	$392K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.884	−0.281%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.888	−0.256%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.891	−0.229%	$579K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.906	−0.113%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.919	−0.012%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.920	−0.002%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.938	+0.135%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.921	+0.003%	$10K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.884	−0.282%	$632K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.918	−0.017%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.930	+0.073%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.930	+0.073%	$920K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0207%	1h	12.930	+0.071%	$790K	$216K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.925	+0.034%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0277%	1h	12.924	+0.025%	$6.6M	$8.3M	50x	as long as short
Hyperliquid LINK	+0.0284%	1h	12.932	+0.088%	$80.7M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0394%	1h	12.910	−0.082%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0570%	8h	12.937	+0.127%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0628%	1h	12.910	−0.083%	$343K	$32K	10x	as long as short