Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0091%/8h= −9.9% APRpaid last 24h −0.020%

Price spread now: gTrade (Gains Network) against OKX−0.034%7-day average +0.022% · 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−$303as in the Price arb table

costs, in and out, $10k−$2982.975% of the position

Long on OKX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.083%−$8 on $10k

Price spread, last 4 days (all we have)+0.307%+$31 · spread now −0.034%, 7d avg +0.022%

Together, before fees+0.224%+$22 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 0.056% cheaper against OKX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LINK-USDT-SWAP	12.982	0.0100	pay 0.0100% / 8h	5h 40m	$27.4M	$82.0M	50x
Short	gTrade (Gains Network) LINK/USD	12.978	L +0.0004% / S −0.0009%	get 0.0001% / 1h	40m 52s	$159K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against OKX. 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 OKXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.034%Rate

Funding earned: −$19.07
Price spread: −0.034% → +0.022%: −$5.6
Slippage, 4 orders: −$277.54
Fee OKX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$322.21
Costs to cover: 2.975%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 18 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 OKX live order book, 3 min ago	0.38 bp	7.3 bp −$7	15.7 bp −$157	33.6 bp −$3,356	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 18 min ago	130.06 bp	142.5 bp −$143	1049.2 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	12.977	−0.040%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.984	+0.016%	$480K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0004% / S −0.0009%	1h	12.978	−0.034%	$159K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.483%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.977	−0.039%	$937K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	12.970	−0.092%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.972	−0.077%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.983	+0.007%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.974	−0.063%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.978	−0.027%	$395K	$315K	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	12.986	+0.032%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.976	−0.048%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.986	+0.029%	$119.8M	$296.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.981	−0.008%	$83.9M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAPlong	+0.0100%	8h	12.982	long leg	$27.4M	$82.0M	50x
Arcus LINK-USD	+0.0100%	1h	12.995	+0.100%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.987	+0.039%	$128.3M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.988	+0.046%	$32.0M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.993	+0.085%	$23.0M	$13.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.979	−0.023%	$54.0M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.986	+0.031%	—	$22.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.085%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.006	+0.184%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.011	+0.220%	$583K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.011	+0.223%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.982	0.000%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.973	−0.073%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.993	+0.084%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.973	−0.069%	$14K	$49K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.969	−0.102%	$640K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.983	+0.007%	$692K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.972	−0.077%	$544K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0105%	1h	12.986	+0.031%	$339K	$378K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0128%	1h	12.975	−0.054%	$771K	$193K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.979	−0.023%	$5.3M	$15.8M	75x	as long as short
dYdX LINK-USD	+0.0335%	1h	12.974	−0.064%	$344K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	12.975	−0.055%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0555%	1h	12.977	−0.035%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0631%	8h	12.987	+0.039%	$20.0M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0686%	1h	12.995	+0.100%	$81.2M	$27.0M	10x	as long as short