LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0266%/8h= −29.1% APRnext payment −$0.33 per $10,000 · paid last 24h −0.116%

Price spread now: GMX against Hyperliquid−0.196%7-day average −0.058% · you buy dearer than you sell

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

Long on Hyperliquid Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.285%−$29 on $10k

Price spread, last 3 days (all we have)+0.207%+$21 · spread now −0.196%, 7d avg −0.058%

Together, before fees−0.078%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and GMX is 0.139% cheaper against Hyperliquid than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.058%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LINK	13.161	0.0100	pay 0.0013% / 1h	27m 38s	$77.8M	$23.6M	10x
Short	GMX LINK/USD [LINK-USDC]	13.135	L −0.0092% / S +0.0166%	pay 0.0021% / 1h	27m 38s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Hyperliquid. 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 HyperliquidbpFee GMXbpOrdersPrice spread, now −0.196%Rate

Funding earned: −$55.87
Price spread: −0.196% → −0.058%: −$13.88
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$90.75
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 6 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 Hyperliquid live order book, 6 min ago	0.38 bp	5.0 bp −$5	12.4 bp −$124	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 −0.0092% / S +0.0166%	1h	13.135	−0.196%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.143	−0.140%	$466K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.138	−0.174%	$712K	$120K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.137	−0.185%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.140	−0.160%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0022%	1h	13.148	−0.097%	$348K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.782%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0046%	8h	13.128	−0.251%	$135K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0068%	8h	13.128	−0.251%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.151	−0.072%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.146	−0.117%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.139	−0.165%	$399K	$317K	10x	as long as short
Hyperliquid LINKlong	+0.0100%	1h	13.161	long leg	$77.8M	$23.6M	10x
Aster LINKUSDT	+0.0100%	8h	13.152	−0.065%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.149	−0.088%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.147	−0.107%	$121.5M	$300.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.143	−0.137%	$84.7M	$69.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.148	−0.099%	$27.8M	$85.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.153	−0.061%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.148	−0.099%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.146	−0.114%	$36.7M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.151	−0.076%	$22.0M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.147	−0.106%	$54.4M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.151	−0.076%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.156	−0.038%	$364K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.125	−0.276%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.128	−0.251%	$593K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.130	−0.236%	$153K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.145	−0.122%	$80K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.132	−0.224%	$16K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.156	−0.041%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.134	−0.205%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.121	−0.307%	$645K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.150	−0.083%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.137	−0.185%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.122	−0.296%	$988K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.133	−0.213%	$5.2M	$16.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0373%	1h	13.133	−0.212%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0472%	8h	13.149	−0.091%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	13.143	−0.136%	$6.9M	$7.8M	50x	as long as short