Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against HTX+0.258%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$310as in the Price arb table

costs, in and out, $10k−$3283.275% of the position

Long on HTX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.084%−$8 on $10k

Price spread, last 3 days (all we have)−0.072%−$7 · spread now +0.258%, 7d avg +0.080%

Together, before fees−0.156%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.179% dearer against HTX than usual: you sell high and buy low (spread +0.258% now, against its 7-day average of +0.080%): +$18 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX LINK-USDT	13.040	0.0100	pay 0.0100% / 8h	2h 49m	$638K	$908K	75x
Short	gTrade (Gains Network) LINK/USD	13.074	L +0.0003% / S −0.0002%	get 0.0000% / 1h	49m 44s	$83K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against HTX. 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 HTXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.258%Rate

Funding earned: −$20.51
Price spread: +0.258% → +0.080%: $17.89
Slippage, 4 orders: −$305.52
Fee HTX: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$330.15
Costs to cover: 3.275%
Break-even: never at this rate

Slippage from HTX: live order book, 39 min ago; gTrade (Gains Network): virtual book (oracle venue), 39 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 HTX live order book, 39 min ago	5.79 bp	13.3 bp −$13	34.0 bp −$340	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 39 min ago	130.05 bp	142.5 bp −$143	1049.2 bp −$10.5K	doesn't fit	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 −0.0091% / S +0.0165%	1h	13.071	+0.239%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.077	+0.282%	$455K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.075	+0.268%	$701K	$111K	50x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0003% / S −0.0002%	1h	13.074	+0.258%	$83K	—	150x
Phoenix LINK	+0.0018%	1h	13.082	+0.321%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.908%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0037%	8h	13.058	+0.135%	$3.2M	$1.5M	—	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	13.064	+0.184%	$134K	$1.6M	20x	as long as short
dYdX LINK-USD	+0.0071%	1h	13.083	+0.327%	$347K	$60K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.082	+0.322%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.076	+0.279%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.064	+0.184%	$397K	$319K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.090	+0.383%	$77.5M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.083	+0.328%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.080	+0.307%	$274K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.076	+0.279%	$121.0M	$301.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.077	+0.284%	$84.5M	$69.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.078	+0.291%	$27.6M	$84.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.093	+0.406%	$184K	$171K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.077	+0.284%	$130.3M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.079	+0.299%	$35.5M	$55.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.087	+0.360%	$21.9M	$16.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.080	+0.307%	$54.1M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.081	+0.314%	—	$21.8M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.088	+0.368%	$362K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.089	+0.377%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.133	+0.713%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.089	+0.376%	$152K	$661K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.073	+0.253%	$79K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.068	+0.214%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.079	+0.301%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.074	+0.261%	$5K	$40K	10x	as long as short
HTX LINK-USDTlong	+0.0100%	8h	13.040	long leg	$638K	$908K	75x
Extended LINK-USD	+0.0104%	1h	13.078	+0.291%	$664K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.075	+0.267%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.079	+0.299%	$986K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.049	+0.069%	$5.2M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.069	+0.222%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0506%	1h	13.085	+0.347%	$6.9M	$7.7M	50x	as long as short
Phemex LINKUSDT	+0.0515%	8h	13.086	+0.353%	$20.2M	$11.5M	50x	as long as short