Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.021%

Price spread now: OKX against gTrade (Gains Network)+0.002%7-day average −0.021% · 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−$2992.985% of the position

Long on gTrade (Gains Network)Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.084%+$8 on $10k

Price spread, last 4 days (all we have)−0.152%−$15 · spread now +0.002%, 7d avg −0.021%

Together, before fees−0.068%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and OKX is 0.023% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) LINK/USD	12.887	L +0.0004% / S −0.0009%	pay 0.0001% / 1h	38m 52s	$158K	—	150x
Short	OKX LINK-USDT-SWAP	12.887	0.0100	get 0.0100% / 8h	4h 38m	$27.2M	$81.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.002%Rate

Funding earned: $20.12
Price spread: +0.002% → −0.021%: $2.34
Slippage, 4 orders: −$278.52
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$276.07
Costs to cover: 2.985%
Break-even: 103.1 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 15 min ago; OKX: live order book, 5 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), 15 min ago	130.05 bp	141.1 bp −$141	963.4 bp −$9,634	10292.4 bp −$1.03M	doesn't fit
Sell OKX live order book, 5 min ago	0.39 bp	7.7 bp −$8	14.8 bp −$148	31.1 bp −$3,108	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 −0.0090% / S +0.0167%	1h	12.886	−0.009%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.893	+0.051%	$486K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0009%	1h	12.887	long leg	$158K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.777%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0059%	8h	12.873	−0.106%	$116K	$1.3M	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0084%	1h	12.879	−0.062%	$769K	$193K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.874	−0.099%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.916	+0.227%	$941K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.894	+0.060%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.885	−0.015%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.881	−0.040%	$389K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.881	−0.041%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.894	+0.056%	$273K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.887	+0.002%	$119.1M	$297.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.883	−0.029%	$83.1M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	12.887	+0.002%	$27.2M	$81.1M	50x
Arcus LINK-USD	+0.0100%	1h	12.897	+0.080%	$180K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.878	−0.068%	$127.2M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.882	−0.036%	$32.1M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.885	−0.013%	$22.6M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.886	−0.005%	$53.6M	$29.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.886	−0.005%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.883	−0.029%	$337K	$387K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.888	+0.011%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.900	+0.103%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.896	+0.068%	$581K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.893	+0.049%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.893	+0.049%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.871	−0.121%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.904	+0.132%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.874	−0.099%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.880	−0.048%	$630K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.875	−0.088%	$628K	$2.1M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.877	−0.079%	$540K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.888	+0.010%	$5.2M	$15.6M	75x	as long as short
Hyperliquid LINK	+0.0346%	1h	12.892	+0.041%	$80.7M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0389%	1h	12.885	−0.014%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0397%	1h	12.875	−0.094%	$6.6M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0577%	8h	12.889	+0.018%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0661%	1h	12.892	+0.044%	$341K	$30K	10x	as long as short