Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0191%/8h= +20.9% APRpaid last 24h +0.046%

Price spread now: BingX against GMX+0.006%7-day average −0.042% · you sell dearer than you buy

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

Long on GMX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.170%+$17 on $10k

Price spread, last 3 days (all we have)−0.063%−$6 · spread now +0.006%, 7d avg −0.042%

Together, before fees+0.107%+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BingX is 0.048% dearer against GMX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	13.201	L −0.0091% / S +0.0167%	get 0.0011% / 1h	34m 16s	$1.8M	—	200x
Short	BingX LINK-USDC	13.202	0.0100	get 0.0100% / 8h	7h 34m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against GMX. 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 GMXbpFee BingXbpOrdersPrice spread, now +0.006%Rate

Funding earned: $40.12
Price spread: +0.006% → −0.042%: $4.76
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: $22.88
Costs to cover: 0.220%
Break-even: 3.0 days

Slippage unknown: GMX: no order-book sample; BingX: live order book, 3 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell BingX live order book, 3 min ago	0.76 bp	10.5 bp −$10	21.1 bp −$211	83.1 bp −$8,312	437.7 bp −$218.9K

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]long	L −0.0091% / S +0.0167%	1h	13.201	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.207	+0.046%	$476K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.203	+0.010%	$134K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0023%	1h	13.208	+0.054%	$784K	$209K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.070%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.229	+0.211%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0047%	8h	13.202	+0.006%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.203	+0.013%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.195	−0.049%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.202	+0.008%	$405K	$308K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.205	+0.026%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.202	+0.009%	$277K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.203	+0.013%	$122.8M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.199	−0.017%	$85.1M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.201	−0.002%	$27.9M	$84.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.217	+0.119%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.201	−0.002%	$130.7M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.202	+0.006%	$37.0M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.207	+0.044%	$23.1M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.204	+0.021%	$54.9M	$30.1M	75x	as long as short
BingX LINK-USDCshort	+0.0100%	8h	13.202	+0.006%	—	$6.6M	—
Variational Omni LINK	+0.0100%	8h	13.213	+0.092%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.204	+0.021%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.182	−0.146%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.220	+0.142%	$154K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.205	+0.028%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.204	+0.022%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.212	+0.082%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.201	−0.002%	$5K	$28K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.187	−0.112%	$649K	$853K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.196	−0.037%	$670K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.204	+0.023%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.207	+0.044%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0203%	1h	13.211	+0.074%	$369K	$368K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.200	−0.010%	$5.2M	$16.1M	75x	as long as short
dYdX LINK-USD	+0.0238%	1h	13.197	−0.036%	$350K	$48K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.209	+0.056%	$6.9M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.199	−0.016%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0425%	8h	13.220	+0.142%	$20.5M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0585%	1h	13.221	+0.150%	$81.7M	$24.8M	10x	as long as short