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 +0.002%

Price spread now: OKX against Gate−0.031%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$400.403% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 7 days+0.032%+$3 · spread now −0.031%, 7d avg −0.002%

Together, before fees+0.050%+$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: OKX is 0.029% 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 −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	12.892	0.0100	pay 0.0100% / 8h	2h 35m	$124.2M	$14.9M	75x
Short	OKX LINK-USDT-SWAP	12.888	0.0100	get 0.0100% / 8h	2h 35m	$27.2M	$80.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.031%Rate

Funding earned: $0
Price spread: −0.031% → −0.002%: −$2.88
Slippage, 4 orders: −$15.29
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$43.17
Costs to cover: 0.403%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; OKX: live order book, 4 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, 4 min ago	1.95 bp	11.7 bp −$12	17.1 bp −$171	34.2 bp −$3,421	79.5 bp −$39.7K
Sell OKX live order book, 4 min ago	0.39 bp	6.5 bp −$7	14.6 bp −$146	30.0 bp −$3,004	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	12.897	+0.040%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.899	+0.054%	$506K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.897	+0.039%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.816%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0048%	8h	12.892	0.000%	$97K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.887	−0.035%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.894	+0.015%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.899	+0.052%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.894	+0.016%	$344K	$342K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.896	+0.029%	$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	12.898	+0.048%	$275K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.894	+0.019%	$118.9M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.889	−0.023%	$83.1M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	12.888	−0.031%	$27.2M	$80.4M	50x
Arcus LINK-USD	+0.0100%	1h	12.909	+0.132%	$180K	$167K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	12.892	long leg	$124.2M	$14.9M	75x
MEXC LINK_USDT	+0.0100%	8h	12.899	+0.054%	$33.1M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.899	+0.054%	$22.7M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.897	+0.039%	$53.8M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.896	+0.031%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.894	+0.016%	$336K	$392K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.873	−0.151%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.869	−0.175%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.880	−0.093%	$589K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.877	−0.116%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.902	+0.078%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.898	+0.045%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.914	+0.167%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.897	+0.039%	$10K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.867	−0.197%	$631K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.895	+0.020%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.902	+0.078%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.884	−0.062%	$916K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.892	0.000%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0239%	1h	12.908	+0.124%	$80.4M	$27.6M	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0246%	1h	12.906	+0.112%	$792K	$233K	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0278%	1h	12.900	+0.059%	$6.6M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0395%	1h	12.896	+0.028%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0571%	8h	12.907	+0.116%	$19.9M	$11.2M	50x	as long as short
dYdX LINK-USD	+0.0826%	1h	12.894	+0.017%	$343K	$33K	10x	as long as short