Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0266%/8h= −29.1% APRpaid last 24h −0.066%

Price spread now: GMX against HTX+0.085%7-day average +0.102% · you sell dearer than you buy

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

Long on HTX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.226%−$23 on $10k

Price spread, last 3 days (all we have)+0.087%+$9 · spread now +0.085%, 7d avg +0.102%

Together, before fees−0.139%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.102%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX LINK-USDT	13.102	0.0100	pay 0.0100% / 8h	2h 57m	$642K	$908K	75x
Short	GMX LINK/USD [LINK-USDC]	13.114	L −0.0091% / S +0.0166%	pay 0.0021% / 1h	57m 57s	$1.7M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$55.76
Price spread: +0.085% → +0.102%: −$1.66
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$81.43
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 30 min ago; GMX: no order-book sample. 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 HTX live order book, 30 min ago	5.79 bp	13.3 bp −$13	34.0 bp −$340	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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]short	L −0.0091% / S +0.0166%	1h	13.114	+0.085%	$1.7M	—	200x
Phoenix LINK	−0.0012%	1h	13.164	+0.471%	$3K	$71K	10x	as long as short
dYdX LINK-USD	0.0000%	1h	13.134	+0.244%	$348K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.133	+0.230%	$458K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.110	+0.059%	$698K	$108K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.116	+0.100%	$83K	—	150x	as long as short
Variational Omni LINK	+0.0025%	8h	13.175	+0.551%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.362%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0058%	8h	13.106	+0.027%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.111	+0.063%	$2.1M	$2.3M	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	13.127	+0.184%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.125	+0.172%	$398K	$323K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.117	+0.111%	$78.2M	$23.3M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.108	+0.042%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.132	+0.225%	$275K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.106	+0.027%	$121.2M	$301.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.102	−0.004%	$84.8M	$68.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.105	+0.019%	$27.7M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.148	+0.347%	$198K	$155K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.106	+0.027%	$130.8M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.104	+0.011%	$35.5M	$55.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.109	+0.050%	$21.6M	$16.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.103	+0.004%	$54.2M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.104	+0.011%	—	$21.8M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.110	+0.057%	$363K	$376K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.157	+0.414%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.155	+0.400%	$592K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.159	+0.431%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.126	+0.179%	$80K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.108	+0.039%	$22K	$13K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.123	+0.157%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.108	+0.042%	$5K	$40K	10x	as long as short
HTX LINK-USDTlong	+0.0100%	8h	13.102	long leg	$642K	$908K	75x
Extended LINK-USD	+0.0104%	1h	13.101	−0.011%	$668K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.114	+0.084%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.125	+0.172%	$991K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.150	+0.363%	$5.3M	$16.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.120	+0.136%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0494%	8h	13.125	+0.172%	$20.3M	$11.4M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0505%	1h	13.116	+0.104%	$6.9M	$7.8M	50x	as long as short