LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0390%/8h= +42.7% APRnext payment +$0.49 per $10,000 · paid last 24h +0.103%

Price spread now: Hyperliquid against GMX+0.120%7-day average +0.065% · you sell dearer than you buy

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

Long on GMX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.262%+$26 on $10k

Price spread, last 4 days (all we have)−0.142%−$14 · spread now +0.120%, 7d avg +0.065%

Together, before fees+0.119%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Hyperliquid is 0.055% dearer against GMX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	12.892	L −0.0089% / S +0.0166%	get 0.0011% / 1h	8m 52s	$1.8M	—	200x
Short	Hyperliquid LINK	12.907	0.0301	get 0.0038% / 1h	8m 52s	$80.5M	$27.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.120%Rate

Funding earned: $81.8
Price spread: +0.120% → +0.065%: $5.51
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $66.31
Costs to cover: 0.210%
Break-even: 1.3 days

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 5 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 Hyperliquid live order book, 5 min ago	0.39 bp	5.8 bp −$6	9.9 bp −$99	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	12.892	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.905	+0.107%	$491K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.894	+0.019%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.813%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0052%	8h	12.892	+0.004%	$115K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.910	+0.144%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.894	+0.018%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.912	+0.155%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.909	+0.135%	$390K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.897	+0.044%	$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	12.911	+0.151%	$276K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.894	+0.017%	$119.6M	$300.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.888	−0.027%	$83.2M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.892	+0.004%	$27.3M	$80.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.921	+0.228%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.891	−0.004%	$127.7M	$13.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.896	+0.035%	$33.0M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.904	+0.097%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.893	+0.011%	$53.8M	$29.7M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.892	+0.004%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.901	+0.073%	$338K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.902	+0.082%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.934	+0.327%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.932	+0.314%	$580K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.936	+0.345%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.906	+0.112%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.891	−0.005%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.903	+0.087%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.893	+0.011%	$9K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.880	−0.090%	$632K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.888	−0.030%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.896	+0.038%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.903	+0.089%	$920K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0184%	1h	12.899	+0.058%	$788K	$215K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.901	+0.073%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.897	+0.041%	$6.6M	$8.2M	50x	as long as short
Hyperliquid LINKshort	+0.0301%	1h	12.907	+0.120%	$80.5M	$27.5M	10x
Reya LINKRUSDPERP	+0.0393%	1h	12.893	+0.014%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0564%	8h	12.914	+0.174%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0841%	1h	12.910	+0.146%	$343K	$32K	10x	as long as short