Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0267%/8h= −29.2% APRpaid last 24h −0.066%

Price spread now: GMX against BingX−0.046%7-day average +0.040% · you buy dearer than you sell

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

Long on BingX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.249%−$25 on $10k

Price spread, last 3 days (all we have)+0.095%+$10 · spread now −0.046%, 7d avg +0.040%

Together, before fees−0.154%−$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 0.086% cheaper against BingX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.040%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDT	12.996	0.0100	pay 0.0100% / 8h	6h 19m	—	$23.0M	—
Short	GMX LINK/USD [LINK-USDC]	12.990	L −0.0090% / S +0.0167%	pay 0.0021% / 1h	19m 59s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$56.07
Price spread: −0.046% → +0.040%: −$8.61
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$86.69
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BingX: 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 BingX live order book, 4 min ago	1.53 bp	6.5 bp −$7	8.5 bp −$85	18.9 bp −$1,890	40.0 bp −$20.0K
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 39 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 −0.0090% / S +0.0167%	1h	12.990	−0.046%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.012	+0.121%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.992	−0.034%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.586%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.024	+0.215%	$3K	$86K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0050%	1h	12.993	−0.020%	$772K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.988	−0.062%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.049	+0.408%	$957K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.991	−0.038%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.993	−0.026%	$31K	$2K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.992	−0.027%	$395K	$322K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.995	−0.007%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.995	−0.009%	$275K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.007	+0.083%	$119.5M	$302.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.003	+0.054%	$84.0M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.005	+0.069%	$27.4M	$84.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.011	+0.115%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.989	−0.054%	$128.1M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.005	+0.069%	$33.1M	$59.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.008	+0.092%	$22.5M	$14.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.004	+0.062%	$54.1M	$30.9M	75x	as long as short
BingX LINK-USDTlong	+0.0100%	8h	12.996	long leg	—	$23.0M	—
Variational Omni LINK	+0.0100%	8h	13.005	+0.070%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.033	+0.288%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.032	+0.277%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.038	+0.323%	$134K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.996	0.000%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.990	−0.048%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.002	+0.048%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.990	−0.046%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.987	−0.070%	$641K	$858K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.000	+0.029%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.991	−0.038%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0110%	1h	13.005	+0.069%	$338K	$386K	15x	as long as short
dYdX LINK-USD	+0.0298%	1h	12.993	−0.024%	$344K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	12.986	−0.074%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0451%	1h	13.007	+0.085%	$80.4M	$26.4M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.996	+0.002%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0622%	8h	13.006	+0.077%	$20.1M	$11.5M	50x	as long as short