Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%

Price spread now: BingX against gTrade (Gains Network)−0.008%7-day average −0.016% · 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−$306as in the Price arb table

costs, in and out, $10k−$3073.073% of the position

Long on gTrade (Gains Network)Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.097%+$10 on $10k

Price spread, last 4 days (all we have)−0.129%−$13 · spread now −0.008%, 7d avg −0.016%

Together, before fees−0.032%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, 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	gTrade (Gains Network) LINK/USD	12.930	L +0.0004% / S −0.0006%	pay 0.0001% / 1h	24m 26s	$184K	—	150x
Short	BingX LINK-USDC	12.929	0.0100	get 0.0100% / 8h	3h 24m	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now −0.008%Rate

Funding earned: $20.1
Price spread: −0.008% → −0.016%: $0.86
Slippage, 4 orders: −$287.28
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$286.33
Costs to cover: 3.073%
Break-even: 106.7 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 25 min ago; BingX: live order book, 13 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 gTrade (Gains Network) virtual book (oracle venue), 25 min ago	130.07 bp	141.1 bp −$141	963.5 bp −$9,635	10292.4 bp −$1.03M	doesn't fit
Sell BingX live order book, 13 min ago	0.77 bp	15.9 bp −$16	28.9 bp −$289	91.7 bp −$9,171	409.7 bp −$204.9K

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	12.929	−0.008%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.951	+0.162%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0006%	1h	12.930	long leg	$184K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.099%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0048%	8h	12.925	−0.039%	$116K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.990	+0.462%	$3K	$82K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0075%	1h	12.931	+0.005%	$785K	$210K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.934	+0.028%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.935	+0.040%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.930	0.000%	$390K	$308K	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	12.934	+0.029%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.936	+0.045%	$276K	$181K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.930	0.000%	$120.0M	$299.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.926	−0.031%	$83.5M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.925	−0.039%	$27.3M	$80.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.954	+0.186%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.928	−0.015%	$128.1M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.930	0.000%	$32.7M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.934	+0.031%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.926	−0.031%	$53.9M	$29.4M	75x	as long as short
BingX LINK-USDCshort	+0.0100%	8h	12.929	−0.008%	—	$6.7M	—
Backpack LINK_USDC_PERP	+0.0100%	1h	12.944	+0.108%	$340K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.938	+0.063%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.952	+0.168%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.976	+0.356%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.955	+0.193%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.937	+0.054%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.924	−0.044%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.947	+0.133%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.926	−0.031%	$9K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.934	+0.029%	$635K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.921	−0.071%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.928	−0.017%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.953	+0.178%	$922K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.939	+0.070%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.930	−0.001%	$6.6M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0325%	1h	12.947	+0.129%	$80.9M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0392%	1h	12.926	−0.033%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0551%	8h	12.958	+0.217%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0835%	1h	12.940	+0.081%	$344K	$31K	10x	as long as short