Funding arb · Price arb /

LINK

all LINK markets

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: HTX against gTrade (Gains Network)−0.274%51s7-day average −0.083% · 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—prices read too far apart to compare

costs, in and out, $10k−$3513.508% of the position

Long on gTrade (Gains Network)Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.094%+$9 on $10k

Price spread, last 4 days (all we have)+0.134%+$13 · spread now −0.274%, 7d avg −0.083%

Together, before fees+0.228%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.191% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.274% now, against its 7-day average of −0.083%). If the spread goes back, that is −$19 on $10k: about 6.6 days of funding at the current rate (+$3 a day). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) LINK/USD	12.906	L +0.0004% / S −0.0006%	pay 0.0001% / 1h	7m 28s	$184K	—	150x
Short	HTX LINK-USDT	12.871	0.0100	get 0.0100% / 8h	3h 07m	$631K	$678K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.274%Rate

Funding earned: $20.09
Price spread: −0.274% → −0.083%: −$19.06
Slippage, 4 orders: −$328.82
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$349.79
Costs to cover: 3.508%
Break-even: 128.9 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 42 min ago; HTX: live order book, 46 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), 42 min ago	130.07 bp	141.1 bp −$141	963.5 bp −$9,635	10292.4 bp −$1.03M	doesn't fit
Sell HTX live order book, 46 min ago	20.52 bp	30.5 bp −$30	245.1 bp −$2,451	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	12.904	−0.012%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.892	−0.109%	$483K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0006%	1h	12.906	long leg	$184K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.921%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0052%	8h	12.891	−0.116%	$115K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.910	+0.032%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.904	−0.015%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.906	−0.003%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.912	+0.050%	$390K	$310K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.904	−0.013%	$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	12.905	−0.008%	$276K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.908	+0.015%	$119.7M	$300.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.908	+0.015%	$83.3M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.912	+0.046%	$27.3M	$80.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.926	+0.155%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.900	−0.046%	$124.9M	$14.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.907	+0.008%	$33.3M	$57.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.913	+0.054%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.913	+0.054%	$54.1M	$30.0M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.907	+0.008%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.899	−0.054%	$338K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.902	−0.030%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.900	−0.047%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.894	−0.095%	$579K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.908	+0.015%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.919	+0.101%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.890	−0.123%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.907	+0.006%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.894	−0.093%	$9K	$64K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	12.871	−0.274%	$631K	$678K	75x
Extended LINK-USD	+0.0104%	1h	12.905	−0.011%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.896	−0.074%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.886	−0.155%	$919K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.901	−0.039%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.898	−0.061%	$6.6M	$8.2M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0254%	1h	12.899	−0.057%	$788K	$215K	50x	as long as short
Hyperliquid LINK	+0.0301%	1h	12.926	+0.155%	$80.6M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0393%	1h	12.908	+0.014%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0564%	8h	12.912	+0.046%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0824%	1h	12.900	−0.048%	$343K	$32K	10x	as long as short