LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0316%/8h= +34.6% APRnext payment +$0.39 per $10,000 · paid last 24h +0.025%

Price spread now: Deribit against GMX+0.050%7-day average −0.021% · you sell dearer than you buy

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.082%+$8 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.050%, 7d avg −0.021%

Together, before fees+0.025%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Deribit is 0.072% dearer against GMX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.021%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.082% in total (about 8.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.39 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	12.984	L −0.0089% / S +0.0166%	get 0.0011% / 1h	32m 08s	$1.8M	—	200x
Short	Deribit LINK_USDC-PERPETUAL	12.991	0.0227	get 0.0028% / 1h	32m 08s	$789K	$210K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.050%Rate

Funding earned: $66.27
Price spread: +0.050% → −0.021%: $7.15
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $54.42
Costs to cover: 0.190%
Break-even: 1.3 days

Slippage unknown: GMX: no order-book sample; Deribit: live order book, 22 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 Deribit live order book, 22 min ago	3.07 bp	8.8 bp −$9	18.4 bp −$184	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 −0.0089% / S +0.0166%	1h	12.984	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.991	+0.054%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.984	−0.003%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.501%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0051%	8h	12.983	−0.011%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	13.008	+0.179%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.984	−0.001%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.988	+0.030%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.982	−0.015%	$392K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.987	+0.020%	$1.2M	$2.4M	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	12.991	+0.047%	$275K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.982	−0.018%	$120.5M	$300.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.977	−0.057%	$83.9M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.980	−0.034%	$27.5M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.000	+0.120%	$182K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.982	−0.019%	$128.6M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.984	−0.003%	$32.9M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.989	+0.035%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.980	−0.034%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.982	−0.019%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.989	+0.035%	$341K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.976	−0.063%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.984	−0.002%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.985	+0.006%	$581K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.013	+0.220%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.990	+0.043%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.983	−0.010%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.002	+0.133%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.984	−0.003%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.967	−0.136%	$636K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.980	−0.033%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.985	+0.004%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.996	+0.089%	$925K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.986	+0.012%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0227%	1h	12.991	+0.050%	$789K	$210K	50x
Kraken Futures PF_LINKUSD	+0.0244%	1h	12.987	+0.021%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0354%	1h	12.997	+0.097%	$81.2M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0392%	1h	12.981	−0.028%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0537%	8h	13.001	+0.128%	$20.1M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0621%	1h	12.984	−0.001%	$344K	$30K	10x	as long as short