Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0267%/8h= −29.2% APRpaid last 24h −0.060%

Price spread now: GMX against MEXC−0.048%7-day average +0.029% · you buy dearer than you sell

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.242%−$24 on $10k

Price spread, last 3 days (all we have)+0.092%+$9 · spread now −0.048%, 7d avg +0.029%

Together, before fees−0.149%−$15 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 0.076% cheaper against MEXC than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LINK_USDT	13.186	0.0100	pay 0.0100% / 8h	7h 14m	$37.2M	$59.1M	300x
Short	GMX LINK/USD [LINK-USDC]	13.180	L −0.0091% / S +0.0167%	pay 0.0021% / 1h	14m 45s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$56.1
Price spread: −0.048% → +0.029%: −$7.64
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$75.74
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: MEXC: 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 MEXC live order book, 4 min ago	0.38 bp	0.6 bp −$1	4.3 bp −$43	31.0 bp −$3,102	53.3 bp −$26.7K
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 −0.0091% / S +0.0167%	1h	13.180	−0.048%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.182	−0.030%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.180	−0.044%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.961%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.142	−0.337%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.179	−0.053%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.189	+0.024%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.207	+0.157%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.178	−0.057%	$404K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.185	−0.008%	$1.4M	$3.0M	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	13.180	−0.044%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.186	0.000%	$122.4M	$299.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.183	−0.023%	$85.0M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.184	−0.015%	$27.6M	$84.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.189	+0.023%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.182	−0.030%	$130.6M	$12.5M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	13.186	long leg	$37.2M	$59.1M	300x
KuCoin LINKUSDTM	+0.0100%	8h	13.185	−0.008%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.182	−0.030%	$54.6M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.184	−0.015%	—	$21.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.154	−0.239%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.139	−0.353%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.140	−0.347%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.150	−0.273%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.186	0.000%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.177	−0.065%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.196	+0.073%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.181	−0.038%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.162	−0.183%	$649K	$867K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.178	−0.064%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.183	−0.021%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.174	−0.091%	$1.0M	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0122%	1h	13.188	+0.014%	$783K	$211K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0179%	1h	13.190	+0.030%	$365K	$363K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.184	−0.015%	$5.2M	$15.4M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.189	+0.023%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.180	−0.043%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0457%	1h	13.180	−0.047%	$349K	$48K	10x	as long as short
Hyperliquid LINK	+0.0559%	1h	13.202	+0.121%	$81.5M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0600%	8h	13.197	+0.083%	$20.4M	$11.6M	50x	as long as short