Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0190%/8h= +20.8% APRpaid last 24h +0.046%

Price spread now: SunX against GMX+0.087%7-day average +0.071% · you sell dearer than you buy

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

Long on GMX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.169%+$17 on $10k

Price spread, last 3 days (all we have)−0.081%−$8 · spread now +0.087%, 7d avg +0.071%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.071%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	13.155	L −0.0090% / S +0.0167%	get 0.0011% / 1h	22m 35s	$1.8M	—	200x
Short	SunX LINK-USDT	13.166	0.0100	get 0.0100% / 8h	1h 22m	$34K	$1.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.087%Rate

Funding earned: $39.96
Price spread: +0.087% → +0.071%: $1.6
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: $21.56
Costs to cover: 0.200%
Break-even: 3.2 days

Slippage unknown: GMX: no order-book sample; SunX: live order book, 2 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 SunX live order book, 2 min ago	13.66 bp	19.2 bp −$19	doesn't fit	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	13.155	long leg	$1.8M	—	200x
dYdX LINK-USD	0.0000%	1h	13.172	+0.132%	$349K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.152	−0.019%	$460K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.159	+0.029%	$719K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.155	+0.002%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.737%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.138	−0.125%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.150	−0.036%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.171	+0.124%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.172	+0.132%	$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	13.150	−0.036%	$402K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.181	+0.200%	$77.7M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.170	+0.117%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.171	+0.124%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.176	+0.165%	$122.3M	$303.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.175	+0.154%	$85.1M	$70.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.176	+0.162%	$27.7M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.188	+0.253%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.169	+0.108%	$130.6M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.173	+0.139%	$36.6M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.172	+0.131%	$22.5M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.177	+0.169%	$54.9M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.178	+0.177%	—	$21.5M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.119	−0.273%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.123	−0.240%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.134	−0.156%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.133	−0.165%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.157	+0.017%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.150	−0.039%	$16K	$22K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	13.166	+0.087%	$34K	$1.6M	30x
SoDEX LINK-USD	+0.0100%	1h	13.153	−0.013%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.121	−0.254%	$645K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.176	+0.162%	$675K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.157	+0.015%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.146	−0.067%	$991K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0204%	1h	13.166	+0.086%	$365K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.150	−0.036%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.148	−0.048%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0474%	8h	13.168	+0.101%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0695%	1h	13.158	+0.022%	$7.0M	$8.1M	50x	as long as short