Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0266%/8h= −29.1% APRpaid last 24h −0.067%

Price spread now: GMX against KuCoin−0.068%7-day average +0.028% · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.235%−$23 on $10k

Price spread, last 4 days (all we have)+0.195%+$20 · spread now −0.068%, 7d avg +0.028%

Together, before fees−0.040%−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and GMX is 0.096% cheaper against KuCoin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	13.045	0.0100	pay 0.0100% / 8h	3h 55m	$22.8M	$13.5M	75x
Short	GMX LINK/USD [LINK-USDC]	13.036	L −0.0089% / S +0.0166%	pay 0.0021% / 1h	55m 02s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$55.85
Price spread: −0.068% → +0.028%: −$9.56
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$89.41
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	1.15 bp	12.0 bp −$12	20.2 bp −$202	61.5 bp −$6,146	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	13.036	−0.068%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.028	−0.127%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.039	−0.048%	$186K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.944%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.038	−0.054%	$118K	$1.2M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.042	−0.025%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0099%	1h	12.981	−0.494%	$3K	$82K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.015	−0.233%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.024	−0.157%	$393K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.041	−0.031%	$1.3M	$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	13.019	−0.196%	$276K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.040	−0.035%	$121.3M	$299.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.035	−0.077%	$84.2M	$72.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.037	−0.061%	$27.5M	$81.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.034	−0.084%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.043	−0.015%	$129.3M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.044	−0.008%	$33.0M	$56.3M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	13.045	long leg	$22.8M	$13.5M	75x
Bitget LINKUSDT	+0.0100%	8h	13.032	−0.100%	$54.2M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.042	−0.023%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.005	−0.305%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.997	−0.371%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.999	−0.353%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.012	−0.253%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.043	−0.015%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.039	−0.046%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.054	+0.069%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.043	−0.015%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.010	−0.268%	$638K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.028	−0.128%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.043	−0.012%	$547K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.048	+0.023%	$945K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.036	−0.069%	$5.3M	$15.8M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0223%	1h	13.053	+0.061%	$342K	$388K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.047	+0.013%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0312%	1h	13.017	−0.212%	$345K	$30K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0341%	1h	13.046	+0.010%	$785K	$202K	50x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	13.036	−0.071%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0433%	1h	13.058	+0.100%	$81.8M	$27.5M	10x	as long as short
Phemex LINKUSDT	+0.0518%	8h	13.056	+0.084%	$20.2M	$11.3M	50x	as long as short