Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.010%

Price spread now: Injective against Gate−5.797%84s7-day average — · you buy dearer than you sell

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+1.048%+$105 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 5.797% cheaper against Gate than usual: you would sell low and buy high (−$580 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.048%, so the current rate has only just turned against you. The two prices were read 84 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	Gate LINK_USDT	13.163	0.0100	pay 0.0100% / 8h	7h 57m	$130.5M	$12.1M	75x
Short	Injective LINK/USDC PERP	12.400	0.0033	get 0.0004% / 1h	57m 47s	$4K	$48K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −5.797%Rate

Funding earned: −$14
Price spread: −5.797% → 0.000%: −$579.66
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$608.68
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 1 min ago; Injective: 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, 1 min ago	1.90 bp	13.8 bp −$14	24.5 bp −$245	39.9 bp −$3,994	83.1 bp −$41.6K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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]	L −0.0091% / S +0.0167%	1h	13.162	−0.004%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.171	+0.062%	$478K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.157	−0.046%	$737K	$147K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.163	−0.002%	$134K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.136	−0.202%	$4K	$81K	10x	as long as short
Injective LINK/USDC PERPshort	+0.0033%	1h	12.400	−5.797%	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0043%	8h	13.153	−0.076%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.161	−0.017%	$2.0M	$2.7M	10x	as long as short
SoDEX LINK-USD	+0.0099%	1h	13.153	−0.076%	$5K	$34K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.165	+0.016%	$32K	$3K	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	13.159	−0.034%	$401K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.166	+0.021%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.163	0.000%	$277K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.161	−0.015%	$122.3M	$306.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.159	−0.030%	$85.0M	$71.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.164	+0.008%	$27.9M	$86.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.171	+0.061%	$185K	$172K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	13.163	long leg	$130.5M	$12.1M	75x
MEXC LINK_USDT	+0.0100%	8h	13.163	0.000%	$36.6M	$57.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.161	−0.015%	$22.8M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.163	0.000%	$54.8M	$30.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.163	0.000%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.177	+0.104%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.172	+0.071%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.183	+0.154%	$597K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.185	+0.167%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.156	−0.053%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.150	−0.101%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.176	+0.100%	$34K	$1.6M	30x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.151	−0.089%	$647K	$875K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.154	−0.072%	$740K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.158	−0.041%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.167	+0.030%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.181	+0.137%	$5.2M	$16.4M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0234%	1h	13.170	+0.053%	$364K	$374K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.161	−0.013%	$6.9M	$8.2M	50x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.150	−0.097%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0396%	1h	13.163	−0.003%	$349K	$48K	10x	as long as short
Hyperliquid LINK	+0.0446%	1h	13.180	+0.129%	$78.9M	$24.4M	10x	as long as short
Phemex LINKUSDT	+0.1451%	8h	13.172	+0.068%	$20.4M	$11.6M	50x	as long as short