Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0190%/8h= +20.8% APRpaid last 24h +0.047%

Price spread now: HTX against GMX−0.039%7-day average −0.105% · you buy dearer than you sell

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

Long on GMX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.180%+$18 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now −0.039%, 7d avg −0.105%

Together, before fees+0.136%+$14 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 HTX is 0.066% dearer against GMX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	12.991	L −0.0090% / S +0.0167%	get 0.0011% / 1h	16m 31s	$1.8M	—	200x
Short	HTX LINK-USDT	12.986	0.0100	get 0.0100% / 8h	6h 16m	$641K	$858K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $39.95
Price spread: −0.039% → −0.105%: $6.64
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: $22.59
Costs to cover: 0.240%
Break-even: 3.0 days

Slippage unknown: GMX: no order-book sample; HTX: live order book, 52 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 HTX live order book, 52 min ago	20.97 bp	27.1 bp −$27	180.0 bp −$1,800	doesn't fit	doesn't fit

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 39 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 −0.0090% / S +0.0167%	1h	12.991	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.000	+0.066%	$473K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.993	+0.014%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.552%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.000	+0.068%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.988	−0.026%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.997	+0.044%	$953K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.997	+0.042%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.991	−0.002%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.989	−0.014%	$395K	$322K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.006	+0.113%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.001	+0.075%	$276K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.002	+0.081%	$119.5M	$302.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.000	+0.067%	$83.9M	$72.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.002	+0.082%	$27.4M	$84.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.014	+0.175%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.003	+0.090%	$128.2M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.996	+0.036%	$33.0M	$59.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.996	+0.036%	$23.1M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.992	+0.005%	$54.0M	$30.9M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.995	+0.028%	—	$23.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.005	+0.106%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.996	+0.039%	$43K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.004	+0.096%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.003	+0.090%	$133K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.996	+0.036%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.989	−0.018%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.001	+0.073%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.995	+0.028%	$14K	$41K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	12.986	−0.039%	$641K	$858K	75x
Extended LINK-USD	+0.0104%	1h	12.987	−0.034%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.996	+0.036%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0113%	1h	12.996	+0.036%	$338K	$386K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0135%	1h	12.998	+0.051%	$772K	$212K	50x	as long as short
dYdX LINK-USD	+0.0377%	1h	13.004	+0.095%	$344K	$35K	10x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	12.986	−0.039%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0457%	1h	13.021	+0.228%	$80.7M	$26.5M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.999	+0.061%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0611%	8h	13.006	+0.113%	$20.1M	$11.5M	50x	as long as short