Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: Bitget against Gate−0.039%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.039%, 7d avg −0.014%

Together, before fees+0.053%+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.025% cheaper against Gate than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	12.898	0.0100	pay 0.0100% / 8h	42m 56s	$133.3M	$17.5M	75x
Short	Bitget LINKUSDT	12.893	0.0100	get 0.0100% / 8h	42m 56s	$53.9M	$30.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Gate. 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 GatebpFee BitgetbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → −0.014%: −$2.5
Slippage, 4 orders: −$15.4
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$44.9
Costs to cover: 0.424%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Bitget: live order book, 1 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 Gate live order book, 1 min ago	0.77 bp	8.8 bp −$9	13.4 bp −$134	33.9 bp −$3,392	79.4 bp −$39.7K
Sell Bitget live order book, 1 min ago	0.77 bp	8.2 bp −$8	15.4 bp −$154	26.7 bp −$2,669	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 −0.0087% / S +0.0165%	1h	12.912	+0.107%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0063%	8h	12.900	+0.016%	$91K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.914	+0.126%	$507K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	12.912	+0.107%	$808K	$268K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.911	+0.098%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.861%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.917	+0.149%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.905	+0.051%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.916	+0.142%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.913	+0.120%	$353K	$340K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.913	+0.116%	$80.9M	$28.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.899	+0.011%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.912	+0.109%	$275K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.891	−0.056%	$119.0M	$298.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.888	−0.078%	$83.3M	$73.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.887	−0.085%	$27.0M	$79.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.934	+0.279%	$181K	$95K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	12.898	long leg	$133.3M	$17.5M	75x
MEXC LINK_USDT	+0.0100%	8h	12.898	0.000%	$34.4M	$57.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.902	+0.031%	$22.9M	$12.3M	75x	as long as short
Bitget LINKUSDTshort	+0.0100%	8h	12.893	−0.039%	$53.9M	$30.1M	75x
BingX LINK-USDT	+0.0100%	8h	12.892	−0.047%	—	$23.2M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.909	+0.085%	$335K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.924	+0.201%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.933	+0.268%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.917	+0.147%	$587K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.921	+0.178%	$132K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.918	+0.155%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.903	+0.038%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.925	+0.209%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.905	+0.054%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.905	+0.057%	$631K	$778K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.906	+0.064%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.893	−0.043%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.908	+0.077%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.919	+0.163%	$930K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.904	+0.047%	$5.2M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0400%	1h	12.910	+0.092%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0502%	1h	12.911	+0.102%	$344K	$45K	10x	as long as short
Phemex LINKUSDT	+0.0553%	8h	12.922	+0.186%	$20.0M	$11.4M	50x	as long as short