Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.010%

Price spread now: Gate against Injective+5.395%54s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−1.035%−$103 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Gate is 5.395% dearer against Injective than usual: you sell high and buy low: +$540 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −1.035%, so the current rate has only just turned in your favour. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	22m 20s	$4K	$48K	12x
Short	Gate LINK_USDT	13.069	0.0100	get 0.0100% / 8h	5h 22m	$129.0M	$12.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now +5.395%Rate

Funding earned: $14
Price spread: +5.395% → 0.000%: $539.52
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $538.5
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Gate: 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	1.53 bp	15.0 bp −$15	19.4 bp −$194	34.2 bp −$3,421	77.7 bp −$38.8K

Injective: 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]	L −0.0090% / S +0.0167%	1h	13.063	+5.343%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.062	+5.335%	$483K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.064	+5.352%	$161K	—	150x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.062	+5.339%	$966K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0065%	8h	13.062	+5.339%	$118K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.066	+5.371%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.042	+5.179%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.071	+5.414%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.069	+5.399%	$395K	$314K	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	13.071	+5.414%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.067	+5.382%	$276K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.061	+5.334%	$120.7M	$296.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.056	+5.290%	$84.4M	$71.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.056	+5.290%	$27.5M	$82.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.083	+5.508%	$183K	$165K	10x	as long as short
Gate LINK_USDTshort	+0.0100%	8h	13.069	+5.395%	$129.0M	$12.8M	75x
MEXC LINK_USDT	+0.0100%	8h	13.059	+5.315%	$32.1M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.071	+5.411%	$23.1M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.066	+5.371%	$54.3M	$29.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.066	+5.371%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.054	+5.274%	$344K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.009	+4.910%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.027	+5.058%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.993	+4.783%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.034	+5.113%	$134K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.076	+5.452%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.064	+5.353%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.082	+5.504%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.066	+5.371%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.045	+5.203%	$643K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.063	+5.343%	$651K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.069	+5.395%	$548K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.043	+5.185%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0332%	1h	13.072	+5.417%	$776K	$174K	50x	as long as short
Reya LINKRUSDPERP	+0.0387%	1h	13.066	+5.370%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0434%	1h	13.063	+5.344%	$346K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0551%	1h	13.068	+5.383%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0578%	8h	13.074	+5.435%	$20.2M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0669%	1h	13.089	+5.556%	$82.4M	$27.2M	10x	as long as short