Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0266%/8h= −29.1% APRpaid last 24h −0.068%

Price spread now: GMX against Bitget+0.053%7-day average +0.047% · you sell dearer than you buy

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.253%−$25 on $10k

Price spread, last 4 days (all we have)+0.095%+$10 · spread now +0.053%, 7d avg +0.047%

Together, before fees−0.158%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.047%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget LINKUSDT	13.033	0.0100	pay 0.0100% / 8h	3h 53m	$54.2M	$29.5M	75x
Short	GMX LINK/USD [LINK-USDC]	13.040	L −0.0089% / S +0.0166%	pay 0.0021% / 1h	53m 27s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$55.85
Price spread: +0.053% → +0.047%: $0.54
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$79.3
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 6 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 Bitget live order book, 6 min ago	0.38 bp	8.7 bp −$9	13.1 bp −$131	21.9 bp −$2,185	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 −0.0089% / S +0.0166%	1h	13.040	+0.053%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.031	−0.017%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.041	+0.058%	$186K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.857%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.044	+0.084%	$118K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.981	−0.402%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.014	−0.146%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.024	−0.066%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.027	−0.050%	$393K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.026	−0.051%	$1.3M	$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	13.022	−0.082%	$276K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.043	+0.076%	$121.4M	$299.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.042	+0.069%	$84.3M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.047	+0.107%	$27.5M	$81.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.039	+0.046%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.031	−0.015%	$129.0M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.037	+0.031%	$33.1M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.033	0.000%	$22.8M	$13.5M	75x	as long as short
Bitget LINKUSDTlong	+0.0100%	8h	13.033	long leg	$54.2M	$29.5M	75x
BingX LINK-USDC	+0.0100%	8h	13.042	+0.069%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.005	−0.213%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.022	−0.082%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.999	−0.261%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.023	−0.077%	$133K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.042	+0.069%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.003	−0.231%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.017	−0.122%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.004	−0.223%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.991	−0.321%	$637K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.041	+0.064%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.049	+0.119%	$547K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.038	+0.038%	$945K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0111%	1h	13.008	−0.189%	$782K	$202K	50x	as long as short
dYdX LINK-USD	+0.0208%	1h	13.017	−0.120%	$345K	$30K	10x	as long as short
Backpack LINK_USDC_PERP	+0.0209%	1h	13.008	−0.192%	$343K	$389K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.036	+0.023%	$5.3M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.004	−0.222%	$6.7M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	13.037	+0.034%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0407%	1h	13.053	+0.153%	$81.7M	$27.4M	10x	as long as short
Phemex LINKUSDT	+0.0522%	8h	13.016	−0.130%	$20.1M	$11.3M	50x	as long as short