LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0467%/8h= −51.2% APRnext payment −$0.58 per $10,000 · paid last 24h −0.123%

Price spread now: GMX against Hyperliquid−0.158%7-day average −0.065% · you buy dearer than you sell

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

Long on Hyperliquid Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.331%−$33 on $10k

Price spread, last 4 days (all we have)+0.181%+$18 · spread now −0.158%, 7d avg −0.065%

Together, before fees−0.151%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and GMX is 0.094% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LINK	12.912	0.0301	pay 0.0038% / 1h	8m 59s	$80.5M	$27.5M	10x
Short	GMX LINK/USD [LINK-USDC]	12.892	L −0.0089% / S +0.0166%	pay 0.0021% / 1h	8m 59s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Hyperliquid. 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 HyperliquidbpFee GMXbpOrdersPrice spread, now −0.158%Rate

Funding earned: −$98.1
Price spread: −0.158% → −0.065%: −$9.36
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$128.46
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 5 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 Hyperliquid live order book, 5 min ago	0.39 bp	7.3 bp −$7	9.3 bp −$93	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 −0.0089% / S +0.0166%	1h	12.892	−0.158%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.905	−0.051%	$491K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.894	−0.139%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.965%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0052%	8h	12.892	−0.155%	$115K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.910	−0.015%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.894	−0.141%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.912	−0.004%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.909	−0.023%	$390K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.900	−0.093%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.911	−0.008%	$276K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.900	−0.093%	$119.6M	$300.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.890	−0.170%	$83.2M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.894	−0.139%	$27.3M	$80.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.921	+0.070%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.892	−0.155%	$127.7M	$13.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.896	−0.124%	$33.0M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.900	−0.093%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.894	−0.139%	$53.8M	$29.7M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.895	−0.132%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.901	−0.085%	$338K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.902	−0.077%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.934	+0.168%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.932	+0.155%	$580K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.936	+0.186%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.906	−0.046%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.891	−0.164%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.903	−0.072%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.893	−0.147%	$9K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.880	−0.248%	$632K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.889	−0.181%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.896	−0.121%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.903	−0.070%	$920K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0184%	1h	12.899	−0.101%	$788K	$215K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.901	−0.085%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.897	−0.118%	$6.6M	$8.2M	50x	as long as short
Hyperliquid LINKlong	+0.0301%	1h	12.912	long leg	$80.5M	$27.5M	10x
Reya LINKRUSDPERP	+0.0393%	1h	12.893	−0.144%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0564%	8h	12.914	+0.015%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0841%	1h	12.910	−0.013%	$343K	$32K	10x	as long as short