Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0267%/8h= −29.2% APRpaid last 24h −0.055%

Price spread now: GMX against Gate−0.028%7-day average +0.039% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.237%−$24 on $10k

Price spread, last 3 days (all we have)+0.082%+$8 · spread now −0.028%, 7d avg +0.039%

Together, before fees−0.155%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and GMX is 0.066% cheaper against Gate than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	13.148	0.0100	pay 0.0100% / 8h	7h 46m	$130.2M	$12.2M	75x
Short	GMX LINK/USD [LINK-USDC]	13.144	L −0.0091% / S +0.0167%	pay 0.0021% / 1h	46m 24s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$56.1
Price spread: −0.028% → +0.039%: −$6.65
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$89.74
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 3 min ago; GMX: no order-book sample. Net counts fees only.

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 Gate live order book, 3 min ago	1.52 bp	14.0 bp −$14	21.1 bp −$211	37.4 bp −$3,737	79.2 bp −$39.6K
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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]short	L −0.0091% / S +0.0167%	1h	13.144	−0.028%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.158	+0.072%	$467K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.164	+0.119%	$761K	$181K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.146	−0.019%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.689%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.154	+0.044%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.145	−0.023%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.152	+0.031%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.150	+0.012%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.143	−0.034%	$403K	$312K	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	13.158	+0.074%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.156	+0.059%	$276K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.144	−0.030%	$122.0M	$306.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.144	−0.030%	$84.7M	$71.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.144	−0.030%	$27.8M	$85.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.166	+0.137%	$185K	$172K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	13.148	long leg	$130.2M	$12.2M	75x
MEXC LINK_USDT	+0.0100%	8h	13.140	−0.061%	$36.4M	$58.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.150	+0.015%	$22.8M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.145	−0.023%	$54.7M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.142	−0.046%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.146	−0.012%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.152	+0.031%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.150	+0.013%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.161	+0.099%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.149	+0.008%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.143	−0.038%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.168	+0.154%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.158	+0.076%	$5K	$29K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.139	−0.066%	$646K	$874K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.147	−0.009%	$740K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.146	−0.018%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.165	+0.129%	$1.0M	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0193%	1h	13.178	+0.228%	$365K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.162	+0.106%	$5.2M	$16.7M	75x	as long as short
dYdX LINK-USD	+0.0249%	1h	13.155	+0.052%	$348K	$48K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.164	+0.121%	$6.9M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.140	−0.060%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0476%	8h	13.175	+0.205%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0494%	1h	13.166	+0.137%	$80.1M	$24.8M	10x	as long as short