Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Bybit against GRVT−0.096%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 7 days+0.082%+$8 · spread now −0.096%, 7d avg −0.014%

Together, before fees+0.068%+ Points / potential airdropGRVT: Active · farm board+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.082% cheaper against GRVT than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT LINK_USDT_Perp	13.051	0.0100	pay 0.0100% / 8h	5h 19m	$590K	$2.7M	10x
Short	Bybit LINKUSDT	13.038	0.0100	get 0.0100% / 8h	5h 19m	$84.3M	$71.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GRVT. 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 GRVTbpFee BybitbpOrdersPrice spread, now −0.096%Rate

Funding earned: $0
Price spread: −0.096% → −0.014%: −$8.21
Slippage, 4 orders: −$10.23
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$38.44
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Bybit: live order book, 5 min ago.

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 GRVT live order book, 4 min ago	0.38 bp	7.7 bp −$8	16.8 bp −$168	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.38 bp	8.1 bp −$8	13.1 bp −$131	35.7 bp −$3,566	doesn't fit

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]	L −0.0090% / S +0.0167%	1h	13.044	−0.048%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.049	−0.016%	$483K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.045	−0.043%	$161K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.985%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.051	+0.003%	$967K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	13.041	−0.074%	$118K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.041	−0.073%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.061	+0.081%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.050	−0.005%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.043	−0.054%	$395K	$313K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.048	−0.021%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.049	−0.009%	$275K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.042	−0.065%	$120.6M	$296.4M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.038	−0.096%	$84.3M	$71.5M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.038	−0.096%	$27.5M	$82.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.066	+0.118%	$183K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.043	−0.058%	$128.8M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.041	−0.074%	$32.5M	$57.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.044	−0.051%	$23.1M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.042	−0.066%	$54.2M	$29.8M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.045	−0.043%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.045	−0.043%	$345K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.062	+0.088%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.068	+0.135%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perplong	+0.0100%	8h	13.051	long leg	$590K	$2.7M	10x
ApeX Omni LINKUSDT	+0.0100%	1h	13.077	+0.202%	$134K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.055	+0.034%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.039	−0.087%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.068	+0.130%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.042	−0.066%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.037	−0.107%	$643K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.037	−0.104%	$651K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.044	−0.052%	$547K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0149%	1h	13.046	−0.034%	$775K	$174K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.041	−0.074%	$5.2M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0387%	1h	13.042	−0.069%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0401%	1h	13.043	−0.061%	$345K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0552%	1h	13.045	−0.039%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0586%	8h	13.056	+0.041%	$20.1M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0662%	1h	13.064	+0.103%	$82.2M	$27.3M	10x	as long as short