Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0266%/8h= −29.1% APRpaid last 24h −0.058%

Price spread now: GMX against Gate−0.006%7-day average +0.034% · you buy dearer than you sell

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

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.246%−$25 on $10k

Price spread, last 4 days (all we have)+0.090%+$9 · spread now −0.006%, 7d avg +0.034%

Together, before fees−0.156%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and GMX is 0.040% cheaper against Gate than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	12.999	0.0100	pay 0.0100% / 8h	3h 50m	$128.7M	$12.8M	75x
Short	GMX LINK/USD [LINK-USDC]	12.998	L −0.0089% / S +0.0166%	pay 0.0021% / 1h	50m 20s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$55.85
Price spread: −0.006% → +0.034%: −$3.99
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$86.84
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 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 Gate live order book, 4 min ago	1.92 bp	17.2 bp −$17	21.3 bp −$213	36.4 bp −$3,643	80.6 bp −$40.3K
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	12.998	−0.006%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.028	+0.222%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.998	−0.005%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.608%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	12.996	−0.023%	$117K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	13.045	+0.356%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.004	+0.042%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.001	+0.018%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.007	+0.058%	$393K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.002	+0.023%	$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	13.005	+0.049%	$275K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.000	+0.008%	$121.0M	$299.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.996	−0.023%	$84.0M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.000	+0.008%	$27.5M	$81.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.018	+0.146%	$182K	$166K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	12.999	long leg	$128.7M	$12.8M	75x
MEXC LINK_USDT	+0.0100%	8h	13.000	+0.008%	$32.9M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.003	+0.031%	$22.8M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.998	−0.008%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.000	+0.008%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.016	+0.132%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.026	+0.207%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.045	+0.354%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.034	+0.269%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.004	+0.038%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.997	−0.016%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.012	+0.102%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.000	+0.008%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.986	−0.099%	$637K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.993	−0.043%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.999	+0.004%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.014	+0.115%	$948K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0135%	1h	13.004	+0.035%	$782K	$202K	50x	as long as short
dYdX LINK-USD	+0.0171%	1h	13.001	+0.018%	$344K	$30K	10x	as long as short
Backpack LINK_USDC_PERP	+0.0206%	1h	13.017	+0.138%	$343K	$390K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.011	+0.092%	$5.2M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.006	+0.058%	$6.7M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	12.998	−0.011%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0398%	1h	13.014	+0.115%	$81.5M	$27.4M	10x	as long as short
Phemex LINKUSDT	+0.0534%	8h	13.016	+0.131%	$20.1M	$11.3M	50x	as long as short