Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0267%/8h= −29.2% APRpaid last 24h −0.067%

Price spread now: GMX against HTX+0.203%7-day average +0.104% · you sell dearer than you buy

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

Long on HTX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.251%−$25 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now +0.203%, 7d avg +0.104%

Together, before fees−0.305%−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.100% dearer against HTX than usual: you sell high and buy low (spread +0.203% now, against its 7-day average of +0.104%): +$10 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX LINK-USDT	12.936	0.0100	pay 0.0100% / 8h	4h 24m	$635K	$693K	75x
Short	GMX LINK/USD [LINK-USDC]	12.962	L −0.0090% / S +0.0167%	pay 0.0021% / 1h	24m 09s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against HTX. 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 HTXbpFee GMXbpOrdersPrice spread, now +0.203%Rate

Funding earned: −$55.99
Price spread: +0.203% → +0.104%: $9.95
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$70.04
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 34 min ago; GMX: 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 HTX live order book, 34 min ago	21.58 bp	27.7 bp −$28	71.6 bp −$716	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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]short	L −0.0090% / S +0.0167%	1h	12.962	+0.203%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.970	+0.264%	$519K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.963	+0.206%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.143%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	12.961	+0.193%	$117K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.969	+0.253%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.965	+0.224%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.988	+0.403%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.969	+0.253%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.968	+0.251%	$392K	$310K	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	12.964	+0.218%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.968	+0.248%	$274K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.969	+0.258%	$119.9M	$297.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.966	+0.232%	$83.6M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.970	+0.263%	$27.4M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.980	+0.340%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.969	+0.255%	$128.3M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.969	+0.255%	$33.1M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.973	+0.286%	$22.7M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.970	+0.263%	$53.9M	$29.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.962	+0.201%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.968	+0.247%	$339K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.954	+0.140%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.958	+0.168%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.967	+0.241%	$581K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.965	+0.224%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.972	+0.278%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.961	+0.195%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.984	+0.370%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.968	+0.247%	$11K	$63K	10x	as long as short
HTX LINK-USDTlong	+0.0100%	8h	12.936	long leg	$635K	$693K	75x
Extended LINK-USD	+0.0104%	1h	12.959	+0.179%	$632K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.965	+0.223%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0143%	1h	12.969	+0.254%	$780K	$202K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.966	+0.232%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0367%	1h	12.981	+0.348%	$81.3M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.961	+0.197%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.970	+0.266%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0437%	1h	12.965	+0.224%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0532%	8h	12.979	+0.332%	$20.0M	$11.4M	50x	as long as short