LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0646%/8h= +70.7% APRnext payment +$0.81 per $10,000 · paid last 24h +0.063%

Price spread now: Kraken Futures against GMX+0.010%7-day average −0.010% · you sell dearer than you buy

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

Long on GMX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.187%+$19 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.010%, 7d avg −0.010%

Together, before fees+0.136%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Kraken Futures is 0.020% dearer against GMX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.010%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.187% in total (about 20.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.81 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]	12.959	L −0.0090% / S +0.0167%	get 0.0011% / 1h	38m 59s	$1.8M	—	200x
Short	Kraken Futures PF_LINKUSD	12.961	0.0556	get 0.0069% / 1h	38m 59s	$6.8M	$8.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.010%Rate

Funding earned: $135.68
Price spread: +0.010% → −0.010%: $2
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $115.69
Costs to cover: 0.220%
Break-even: 1.0 days

Slippage unknown: GMX: no order-book sample; Kraken Futures: 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 Kraken Futures live order book, 5 min ago	3.84 bp	12.0 bp −$12	16.8 bp −$168	51.7 bp −$5,168	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	12.959	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.980	+0.158%	$480K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.960	+0.001%	$159K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0028%	1h	12.964	+0.037%	$770K	$193K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.317%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.966	+0.050%	$937K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	12.956	−0.027%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.960	+0.004%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.983	+0.181%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.971	+0.087%	$31K	$2K	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	12.972	+0.097%	$394K	$315K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.965	+0.043%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.975	+0.123%	$274K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.967	+0.058%	$119.6M	$296.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.968	+0.066%	$83.9M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.971	+0.089%	$27.4M	$82.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.990	+0.235%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.963	+0.027%	$128.1M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.965	+0.043%	$32.0M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.965	+0.043%	$23.0M	$13.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.960	+0.004%	$53.9M	$30.0M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.966	+0.050%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.968	+0.066%	$339K	$378K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	+0.089%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.977	+0.137%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.011	+0.394%	$583K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.011	+0.398%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.978	+0.143%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.960	+0.004%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.984	+0.190%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.960	+0.004%	$13K	$49K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.959	−0.001%	$639K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.958	−0.010%	$692K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.961	+0.016%	$544K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.966	+0.050%	$5.2M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	12.971	+0.088%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0388%	1h	12.973	+0.107%	$344K	$30K	10x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0556%	1h	12.961	+0.010%	$6.8M	$8.0M	50x
Phemex LINKUSDT	+0.0618%	8h	12.976	+0.127%	$20.0M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0663%	1h	12.981	+0.166%	$81.1M	$26.9M	10x	as long as short