Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.010%

Price spread now: Injective against Gate−5.112%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+1.035%+$103 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 5.112% cheaper against Gate than usual: you would sell low and buy high (−$511 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.035%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	13.068	0.0100	pay 0.0100% / 8h	5h 21m	$129.0M	$12.8M	75x
Short	Injective LINK/USDC PERP	12.400	0.0033	get 0.0004% / 1h	21m 10s	$4K	$48K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −5.112%Rate

Funding earned: −$14
Price spread: −5.112% → 0.000%: −$511.17
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$540.19
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 3 min ago; Injective: 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	1.53 bp	15.8 bp −$16	22.1 bp −$221	34.4 bp −$3,443	76.2 bp −$38.1K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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]	L −0.0090% / S +0.0167%	1h	13.064	−0.032%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.073	+0.038%	$483K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.065	−0.025%	$161K	—	150x	as long as short
Injective LINK/USDC PERPshort	+0.0033%	1h	12.400	−5.112%	$4K	$48K	12x
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.077	+0.069%	$968K	$2.8M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0065%	8h	13.066	−0.015%	$118K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.066	−0.015%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.061	−0.052%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.081	+0.098%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.070	+0.017%	$395K	$314K	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	13.080	+0.092%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.073	+0.038%	$276K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.071	+0.020%	$120.7M	$296.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.066	−0.015%	$84.4M	$71.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.069	+0.008%	$27.6M	$82.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.090	+0.168%	$183K	$165K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	13.068	long leg	$129.0M	$12.8M	75x
MEXC LINK_USDT	+0.0100%	8h	13.070	+0.015%	$32.1M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.070	+0.015%	$23.1M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.065	−0.023%	$54.3M	$29.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.069	+0.008%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.074	+0.046%	$346K	$386K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.009	−0.453%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.027	−0.312%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.051	−0.133%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.050	−0.138%	$134K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.083	+0.115%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.063	−0.039%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.083	+0.116%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.066	−0.015%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.055	−0.099%	$644K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.060	−0.060%	$651K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.069	+0.010%	$548K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.067	−0.008%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0332%	1h	13.072	+0.030%	$776K	$174K	50x	as long as short
Reya LINKRUSDPERP	+0.0387%	1h	13.073	+0.037%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0422%	1h	13.068	−0.002%	$346K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0551%	1h	13.068	0.000%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0583%	8h	13.084	+0.122%	$20.2M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0667%	1h	13.086	+0.138%	$82.3M	$27.3M	10x	as long as short