Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0094%/8h= −10.2% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against KuCoin−0.041%7-day average +0.011% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$315as in the Price arb table

costs, in and out, $10k−$3103.102% of the position

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.068%−$7 on $10k

Price spread, last 3 days (all we have)+0.141%+$14 · spread now −0.041%, 7d avg +0.011%

Together, before fees+0.073%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.052% cheaper against KuCoin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.011%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	13.133	0.0100	pay 0.0100% / 8h	1h 29m	$22.4M	$15.7M	75x
Short	gTrade (Gains Network) LINK/USD	13.128	L +0.0004% / S −0.0006%	get 0.0001% / 1h	29m 33s	$133K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against KuCoin. 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 KuCoinbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.041%Rate

Funding earned: −$19.65
Price spread: −0.041% → +0.011%: −$5.22
Slippage, 4 orders: −$288.19
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$335.06
Costs to cover: 3.102%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 50 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 KuCoin live order book, 4 min ago	1.14 bp	15.4 bp −$15	20.5 bp −$205	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 50 min ago	130.05 bp	142.5 bp −$143	1049.3 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 −0.0090% / S +0.0167%	1h	13.117	−0.124%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.127	−0.049%	$348K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.127	−0.045%	$460K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.120	−0.099%	$716K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0004% / S −0.0006%	1h	13.128	−0.041%	$133K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.581%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.111	−0.168%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.113	−0.152%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.129	−0.034%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.122	−0.080%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.123	−0.078%	$401K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.139	+0.046%	$77.4M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.130	−0.026%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.128	−0.039%	$275K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.131	−0.016%	$121.8M	$302.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.128	−0.038%	$84.6M	$70.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.128	−0.038%	$27.6M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.142	+0.069%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.127	−0.046%	$130.3M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.132	−0.008%	$36.3M	$56.4M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	13.133	long leg	$22.4M	$15.7M	75x
Bitget LINKUSDT	+0.0100%	8h	13.130	−0.023%	$54.7M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.130	−0.023%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.116	−0.131%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.147	+0.106%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.102	−0.236%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.154	+0.160%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.134	+0.008%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.113	−0.149%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.131	−0.014%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.116	−0.129%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.097	−0.272%	$644K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.128	−0.038%	$675K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.117	−0.120%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.122	−0.084%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0174%	1h	13.126	−0.053%	$364K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.097	−0.274%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.130	−0.019%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0476%	8h	13.121	−0.091%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0696%	1h	13.127	−0.049%	$6.9M	$8.1M	50x	as long as short