LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0268%/8h= +29.4% APRnext payment +$0.34 per $10,000 · paid last 24h +0.046%

Price spread now: Backpack against GMX+0.147%7-day average +0.011% · you sell dearer than you buy

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

Long on GMX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.170%+$17 on $10k

Price spread, last 3 days (all we have)−0.267%−$27 · spread now +0.147%, 7d avg +0.011%

Together, before fees−0.097%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Backpack is 0.137% dearer against GMX than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	13.141	L −0.0090% / S +0.0167%	get 0.0011% / 1h	56m 54s	$1.8M	—	200x
Short	Backpack LINK_USDC_PERP	13.160	0.0178	get 0.0022% / 1h	56m 54s	$366K	$374K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against GMX. 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 GMXbpFee BackpackbpOrdersPrice spread, now +0.147%Rate

Funding earned: $56.34
Price spread: +0.147% → +0.011%: $13.66
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $48
Costs to cover: 0.220%
Break-even: 1.0 days

Slippage unknown: GMX: no order-book sample; Backpack: live order book, 27 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 27 min ago	0.38 bp	6.3 bp −$6	417.3 bp −$4,173	doesn't fit	doesn't fit

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]long	L −0.0090% / S +0.0167%	1h	13.141	long leg	$1.8M	—	200x
dYdX LINK-USD	0.0000%	1h	13.130	−0.080%	$348K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.135	−0.042%	$470K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.144	+0.029%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.141	+0.003%	$133K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.128	−0.098%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.636%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.143	+0.018%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.144	+0.029%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.132	−0.066%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.128	−0.092%	$399K	$316K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.155	+0.109%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.134	−0.047%	$275K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.156	+0.114%	$122.0M	$302.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.154	+0.102%	$84.7M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.160	+0.147%	$27.7M	$85.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.140	−0.005%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.153	+0.094%	$130.5M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.154	+0.102%	$36.6M	$55.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.157	+0.125%	$22.3M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.151	+0.079%	$54.6M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.153	+0.094%	—	$21.8M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.143	+0.018%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.127	−0.102%	$44K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.136	−0.032%	$589K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.148	+0.056%	$153K	$666K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.138	−0.020%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.143	+0.016%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.140	−0.006%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.137	−0.028%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.127	−0.108%	$645K	$903K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.149	+0.060%	$667K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.144	+0.025%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.150	+0.071%	$990K	$2.7M	50x	as long as short
Hyperliquid LINK	+0.0122%	1h	13.162	+0.163%	$77.5M	$23.6M	10x	as long as short
Backpack LINK_USDC_PERPshort	+0.0178%	1h	13.160	+0.147%	$366K	$374K	15x
BloFin LINK-USDT	+0.0220%	8h	13.143	+0.018%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.136	−0.034%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0486%	8h	13.142	+0.010%	$20.3M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0695%	1h	13.148	+0.055%	$6.9M	$8.0M	50x	as long as short