Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%

Price spread now: SunX against gTrade (Gains Network)+0.114%7-day average +0.097% · 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−$319as in the Price arb table

costs, in and out, $10k−$3213.208% of the position

Long on gTrade (Gains Network)Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.097%+$10 on $10k

Price spread, last 4 days (all we have)−0.044%−$4 · spread now +0.114%, 7d avg +0.097%

Together, before fees+0.052%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.097%, 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	12.905	L +0.0004% / S −0.0005%	pay 0.0001% / 1h	40m 52s	$155K	—	150x
Short	SunX LINK-USDT	12.919	0.0100	get 0.0100% / 8h	40m 52s	$34K	$1.4M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.114%Rate

Funding earned: $20.09
Price spread: +0.114% → +0.097%: $1.72
Slippage, 4 orders: −$302.79
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$298.98
Costs to cover: 3.208%
Break-even: 111.2 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 58 min ago; SunX: live order book, 4 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), 58 min ago	130.03 bp	141.1 bp −$141	963.4 bp −$9,634	10292.3 bp −$1.03M	doesn't fit
Sell SunX live order book, 4 min ago	13.66 bp	19.2 bp −$19	doesn't fit	doesn't fit	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 −0.0087% / S +0.0165%	1h	12.905	+0.002%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0064%	8h	12.898	−0.052%	$91K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.920	+0.117%	$507K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	12.912	+0.060%	$808K	$268K	50x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0005%	1h	12.905	long leg	$155K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.911%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.920	+0.121%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.904	−0.005%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.908	+0.022%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.910	+0.043%	$353K	$340K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.917	+0.095%	$80.9M	$28.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.906	+0.014%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.911	+0.052%	$275K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.900	−0.036%	$119.1M	$299.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.898	−0.052%	$83.4M	$73.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.898	−0.052%	$27.1M	$80.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.923	+0.142%	$180K	$95K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.902	−0.021%	$133.4M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.902	−0.021%	$34.4M	$58.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.905	+0.002%	$22.9M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.896	−0.067%	$54.0M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.900	−0.036%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.911	+0.049%	$335K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.900	−0.037%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.910	+0.044%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.917	+0.095%	$587K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.921	+0.126%	$132K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.912	+0.057%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.903	−0.015%	$16K	$22K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	12.919	+0.114%	$34K	$1.4M	30x
SoDEX LINK-USD	+0.0100%	1h	12.905	+0.002%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.891	−0.104%	$630K	$778K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.905	+0.003%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.896	−0.071%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.908	+0.022%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.922	+0.134%	$931K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.907	+0.018%	$5.2M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0400%	1h	12.898	−0.049%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0526%	1h	12.914	+0.074%	$344K	$45K	10x	as long as short
Phemex LINKUSDT	+0.0552%	8h	12.922	+0.134%	$20.0M	$11.4M	50x	as long as short