Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0311%/8h= +34.1% APRpaid last 24h +0.076%

Price spread now: BloFin against GMX−0.294%111s7-day average −0.021% · you buy dearer than you sell

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

Long on GMX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.296%+$30 on $10k

Price spread, last 3 days (all we have)+0.265%+$27 · spread now −0.294%, 7d avg −0.021%

Together, before fees+0.561%+$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.273% cheaper against GMX than usual: you would sell low and buy high (spread −0.294% now, against its 7-day average of −0.021%). If the spread goes back, that is −$27 on $10k: about 2.9 days of funding at the current rate (+$9 a day). The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	13.180	L −0.0091% / S +0.0167%	get 0.0011% / 1h	15m 15s	$1.8M	—	200x
Short	BloFin LINK-USDT	13.141	0.0220	get 0.0220% / 8h	7h 15m	$5.2M	$15.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.294%Rate

Funding earned: $65.32
Price spread: −0.294% → −0.021%: −$27.25
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: $14.07
Costs to cover: 0.240%
Break-even: 5.5 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 4 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 BloFin live order book, 4 min ago	1.52 bp	7.5 bp −$8	8.8 bp −$88	18.9 bp −$1,894	51.2 bp −$25.6K

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 −0.0091% / S +0.0167%	1h	13.180	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.165	−0.115%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.180	+0.004%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.916%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.142	−0.290%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.179	−0.005%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.176	−0.030%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.207	+0.205%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.178	−0.009%	$404K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.181	+0.010%	$1.4M	$3.0M	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	13.180	+0.003%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.184	+0.030%	$122.4M	$299.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.177	−0.020%	$85.0M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.179	−0.005%	$27.6M	$84.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.189	+0.071%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.181	+0.010%	$130.6M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.182	+0.017%	$37.2M	$59.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.185	+0.040%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.177	−0.020%	$54.6M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.178	−0.013%	—	$21.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.154	−0.192%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.139	−0.305%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.140	−0.299%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.150	−0.225%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.186	+0.048%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.177	−0.017%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.196	+0.121%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.181	+0.010%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.162	−0.135%	$649K	$867K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.178	−0.016%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.183	+0.027%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.174	−0.043%	$1.0M	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0122%	1h	13.188	+0.061%	$783K	$211K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0178%	1h	13.180	+0.002%	$365K	$364K	15x	as long as short
BloFin LINK-USDTshort	+0.0220%	8h	13.141	−0.294%	$5.2M	$15.4M	75x
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.189	+0.071%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.180	+0.005%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0457%	1h	13.180	0.000%	$349K	$48K	10x	as long as short
Hyperliquid LINK	+0.0558%	1h	13.199	+0.146%	$81.5M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0600%	8h	13.197	+0.131%	$20.4M	$11.6M	50x	as long as short