LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0283%/8h= −31.0% APRnext payment −$0.35 per $10,000 · paid last 24h −0.065%

Price spread now: GMX against Backpack−0.079%7-day average −0.011% · you buy dearer than you sell

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

Long on Backpack Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.233%−$23 on $10k

Price spread, last 3 days (all we have)+0.198%+$20 · spread now −0.079%, 7d avg −0.011%

Together, before fees−0.034%−$3 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 0.068% cheaper against Backpack than usual: you would sell low and buy high (−$7 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	Backpack LINK_USDC_PERP	13.176	0.0117	pay 0.0015% / 1h	24m 02s	$365K	$372K	15x
Short	GMX LINK/USD [LINK-USDC]	13.166	L −0.0092% / S +0.0166%	pay 0.0021% / 1h	24m 02s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Backpack. 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 BackpackbpFee GMXbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$59.42
Price spread: −0.079% → −0.011%: −$6.8
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$88.23
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 64 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 Backpack live order book, 64 min ago	0.38 bp	9.2 bp −$9	56.7 bp −$567	doesn't fit	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 −0.0092% / S +0.0166%	1h	13.166	−0.079%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.165	−0.083%	$467K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.169	−0.052%	$714K	$120K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.165	−0.084%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.152	−0.186%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0020%	1h	13.152	−0.184%	$348K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.889%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.160	−0.121%	$135K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0076%	8h	13.148	−0.212%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.170	−0.047%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.151	−0.191%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.153	−0.171%	$400K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.180	+0.030%	$77.9M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.169	−0.050%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.156	−0.149%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.165	−0.083%	$121.7M	$300.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.165	−0.083%	$84.7M	$69.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.167	−0.068%	$27.9M	$85.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.168	−0.061%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.165	−0.083%	$130.8M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.162	−0.106%	$36.7M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.168	−0.061%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.163	−0.099%	$54.5M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.166	−0.076%	—	$21.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.144	−0.240%	$44K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.146	−0.224%	$593K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.147	−0.220%	$153K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.161	−0.114%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.163	−0.100%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.162	−0.103%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.166	−0.076%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.121	−0.417%	$645K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.162	−0.107%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.169	−0.055%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.157	−0.144%	$991K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERPlong	+0.0117%	1h	13.176	long leg	$365K	$372K	15x
BloFin LINK-USDT	+0.0220%	8h	13.154	−0.167%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0373%	1h	13.157	−0.144%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0466%	8h	13.175	−0.008%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0503%	1h	13.177	+0.009%	$7.0M	$7.8M	50x	as long as short