Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0189%/8h= +20.6% APRpaid last 24h +0.048%

Price spread now: SunX against GMX+0.107%7-day average +0.075% · you sell dearer than you buy

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

Long on GMX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.186%+$19 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.107%, 7d avg +0.075%

Together, before fees+0.084%+$8 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 SunX is 0.033% dearer against GMX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	12.910	L −0.0089% / S +0.0166%	get 0.0011% / 1h	21m 33s	$1.8M	—	200x
Short	SunX LINK-USDT	12.924	0.0100	get 0.0100% / 8h	3h 21m	$33K	$1.5M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.107%Rate

Funding earned: $39.6
Price spread: +0.107% → +0.075%: $3.26
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: $22.86
Costs to cover: 0.200%
Break-even: 3.0 days

Slippage unknown: GMX: no order-book sample; SunX: 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 SunX live order book, 3 min ago	13.68 bp	19.2 bp −$19	doesn't fit	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 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 −0.0089% / S +0.0166%	1h	12.910	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.918	+0.056%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.911	+0.001%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.954%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0048%	8h	12.906	−0.034%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.914	+0.028%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.937	+0.206%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.938	+0.217%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.938	+0.215%	$391K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.945	+0.266%	$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	12.944	+0.258%	$276K	$181K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.947	+0.282%	$120.1M	$300.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.943	+0.252%	$83.5M	$73.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.945	+0.268%	$27.4M	$80.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.955	+0.345%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.938	+0.213%	$128.2M	$13.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.943	+0.252%	$32.8M	$57.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.942	+0.244%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.945	+0.268%	$53.9M	$29.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.942	+0.244%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.915	+0.035%	$338K	$392K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.938	+0.214%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.927	+0.127%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.938	+0.217%	$586K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.932	+0.167%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.952	+0.322%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.906	−0.035%	$16K	$22K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	12.924	+0.107%	$33K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	12.910	−0.003%	$9K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.889	−0.168%	$632K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.940	+0.228%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.910	−0.003%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.905	−0.042%	$918K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0122%	1h	12.914	+0.029%	$784K	$210K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.926	+0.121%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.915	+0.032%	$6.6M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0317%	1h	12.958	+0.368%	$80.9M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0393%	1h	12.943	+0.255%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0557%	8h	12.929	+0.144%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0906%	1h	12.938	+0.215%	$344K	$31K	10x	as long as short