Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0190%/8h= +20.8% APRpaid last 24h +0.046%

Price spread now: HTX against GMX−0.295%7-day average −0.104% · you buy dearer than you sell

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

Long on GMX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.165%+$17 on $10k

Price spread, last 3 days (all we have)+0.146%+$15 · spread now −0.295%, 7d avg −0.104%

Together, before fees+0.311%+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.191% cheaper against GMX than usual: you would sell low and buy high (spread −0.295% now, against its 7-day average of −0.104%). If the spread goes back, that is −$19 on $10k: about 3.3 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	13.138	L −0.0090% / S +0.0167%	get 0.0011% / 1h	1m 44s	$1.8M	—	200x
Short	HTX LINK-USDT	13.100	0.0100	get 0.0100% / 8h	2h 01m	$644K	$907K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.295%Rate

Funding earned: $39.96
Price spread: −0.295% → −0.104%: −$19.12
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$3.16
Costs to cover: 0.240%
Break-even: 7.6 days

Slippage unknown: GMX: no order-book sample; HTX: 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 HTX live order book, 22 min ago	23.16 bp	29.2 bp −$29	214.0 bp −$2,140	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	13.138	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.144	+0.039%	$469K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.139	+0.005%	$717K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.138	−0.007%	$133K	—	150x	as long as short
dYdX LINK-USD	+0.0012%	1h	13.130	−0.063%	$348K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.136	−0.016%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.621%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.135	−0.026%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.134	−0.036%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.137	−0.008%	$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	13.138	−0.004%	$399K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.139	+0.004%	$77.4M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.131	−0.059%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.133	−0.042%	$275K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.134	−0.032%	$121.6M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.131	−0.057%	$84.6M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.136	−0.019%	$27.7M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.151	+0.095%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.125	−0.102%	$130.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.128	−0.080%	$36.5M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.131	−0.057%	$22.2M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.125	−0.102%	$54.3M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.126	−0.095%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.121	−0.134%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.120	−0.138%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.112	−0.203%	$588K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.126	−0.095%	$153K	$665K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.140	+0.012%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.133	−0.039%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.155	+0.125%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.127	−0.087%	$5K	$40K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	13.100	−0.295%	$644K	$907K	75x
Extended LINK-USD	+0.0104%	1h	13.123	−0.116%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.133	−0.044%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.126	−0.095%	$988K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0114%	1h	13.136	−0.019%	$365K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.130	−0.064%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.138	−0.004%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0477%	8h	13.147	+0.065%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0505%	1h	13.135	−0.029%	$6.9M	$8.0M	50x	as long as short