Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.022%

Price spread now: gTrade (Gains Network) against MEXC−0.031%7-day average +0.004% · 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−$288as in the Price arb table

costs, in and out, $10k−$2852.847% of the position

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.090%−$9 on $10k

Price spread, last 4 days (all we have)+0.168%+$17 · spread now −0.031%, 7d avg +0.004%

Together, before fees+0.078%+$8 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 0.035% cheaper against MEXC than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LINK_USDT	13.003	0.0100	pay 0.0100% / 8h	3h 57m	$32.9M	$56.2M	300x
Short	gTrade (Gains Network) LINK/USD	12.999	L +0.0004% / S −0.0006%	get 0.0001% / 1h	57m 02s	$185K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against MEXC. 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 MEXCbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.031%Rate

Funding earned: −$19.72
Price spread: −0.031% → +0.004%: −$3.49
Slippage, 4 orders: −$274.68
Fee MEXC: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$307.9
Costs to cover: 2.847%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; gTrade (Gains Network): virtual book (oracle venue), 57 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 MEXC live order book, 2 min ago	0.38 bp	0.6 bp −$1	3.3 bp −$33	21.6 bp −$2,162	41.0 bp −$20.5K
Sell gTrade (Gains Network) virtual book (oracle venue), 57 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 −0.0089% / S +0.0166%	1h	12.998	−0.038%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.006	+0.022%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0004% / S −0.0006%	1h	12.999	−0.031%	$185K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.637%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	12.999	−0.031%	$117K	$1.2M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.001	−0.017%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0099%	1h	12.981	−0.172%	$3K	$82K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.006	+0.022%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.999	−0.027%	$392K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.001	−0.017%	$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	13.008	+0.042%	$276K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.003	+0.001%	$120.5M	$298.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.996	−0.054%	$83.9M	$72.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.000	−0.023%	$27.5M	$81.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.017	+0.108%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.000	−0.023%	$128.8M	$12.7M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	13.003	long leg	$32.9M	$56.2M	300x
KuCoin LINKUSDTM	+0.0100%	8h	13.005	+0.015%	$22.8M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.999	−0.031%	$54.1M	$29.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.998	−0.038%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.990	−0.098%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.989	−0.110%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.977	−0.201%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.995	−0.062%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.006	+0.023%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.996	−0.050%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.013	+0.074%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.000	−0.023%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.979	−0.181%	$637K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.995	−0.058%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.001	−0.019%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.012	+0.069%	$942K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0197%	1h	13.008	+0.038%	$341K	$386K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.999	−0.031%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0227%	1h	13.005	+0.012%	$782K	$202K	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.004	+0.010%	$6.7M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	12.997	−0.046%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0405%	1h	13.015	+0.094%	$81.5M	$27.4M	10x	as long as short
dYdX LINK-USD	+0.0486%	1h	13.003	−0.003%	$344K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0517%	8h	13.014	+0.085%	$20.1M	$11.4M	50x	as long as short