Funding arb · Price arb /

LINK

all LINK markets

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 Binance+0.005%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$296as in the Price arb table

costs, in and out, $10k−$2962.956% of the position

Long on Binance 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)+0.082%+$8 · spread now +0.005%, 7d avg +0.004%

Together, before fees−0.008%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LINKUSDT	12.910	0.0100	pay 0.0100% / 8h	3h 22m	$119.8M	$300.0M	75x
Short	gTrade (Gains Network) LINK/USD	12.911	L +0.0004% / S −0.0006%	get 0.0001% / 1h	22m 19s	$184K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Binance. 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 BinancebpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.005%Rate

Funding earned: −$19.71
Price spread: +0.005% → +0.004%: $0.04
Slippage, 4 orders: −$275.65
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$315.32
Costs to cover: 2.956%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; gTrade (Gains Network): virtual book (oracle venue), 27 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 Binance live order book, 6 min ago	0.39 bp	6.1 bp −$6	9.6 bp −$96	32.6 bp −$3,260	112.1 bp −$56.1K
Sell gTrade (Gains Network) virtual book (oracle venue), 27 min ago	130.07 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 −0.0089% / S +0.0166%	1h	12.910	+0.003%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.935	+0.198%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0004% / S −0.0006%	1h	12.911	+0.005%	$184K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.950%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0048%	8h	12.906	−0.031%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.946	+0.277%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.907	−0.027%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.901	−0.068%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.903	−0.054%	$390K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.913	+0.024%	$1.2M	$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	12.909	−0.005%	$275K	$181K	10x	as long as short
Binance LINKUSDTlong	+0.0100%	8h	12.910	long leg	$119.8M	$300.0M	75x
Bybit LINKUSDT	+0.0100%	8h	12.907	−0.023%	$83.3M	$72.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.909	−0.008%	$27.3M	$80.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.919	+0.070%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.904	−0.046%	$127.8M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.912	+0.015%	$32.6M	$57.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.912	+0.015%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.907	−0.023%	$53.8M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.913	+0.023%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.925	+0.116%	$340K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.938	+0.218%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.952	+0.324%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.938	+0.220%	$586K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.955	+0.349%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.918	+0.062%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.925	+0.115%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.940	+0.234%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.926	+0.124%	$9K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.918	+0.063%	$634K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.893	−0.132%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.910	0.000%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.936	+0.201%	$920K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0145%	1h	12.932	+0.173%	$785K	$210K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.926	+0.124%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.930	+0.153%	$6.6M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0317%	1h	12.926	+0.124%	$80.8M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0393%	1h	12.908	−0.018%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0548%	8h	12.940	+0.232%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0884%	1h	12.914	+0.028%	$343K	$31K	10x	as long as short