Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against KuCoin−0.015%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$310as in the Price arb table

costs, in and out, $10k−$3093.086% of the position

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.077%−$8 on $10k

Price spread, last 4 days (all we have)+0.086%+$9 · spread now −0.015%, 7d avg +0.003%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	12.969	0.0100	pay 0.0100% / 8h	2h 10m	$22.9M	$13.1M	75x
Short	gTrade (Gains Network) LINK/USD	12.967	L +0.0004% / S −0.0005%	get 0.0001% / 1h	10m 47s	$157K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against KuCoin. 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 KuCoinbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.015%Rate

Funding earned: −$20.02
Price spread: −0.015% → +0.003%: −$1.83
Slippage, 4 orders: −$286.59
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$330.44
Costs to cover: 3.086%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 33 min ago.

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 KuCoin live order book, 3 min ago	0.39 bp	13.9 bp −$14	21.4 bp −$214	59.3 bp −$5,933	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 33 min ago	130.04 bp	142.5 bp −$143	1049.2 bp −$10.5K	doesn't fit	doesn't fit

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]	L −0.0089% / S +0.0166%	1h	12.964	−0.036%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.970	+0.012%	$526K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0004% / S −0.0005%	1h	12.967	−0.015%	$157K	—	150x
Orderly PERP_LINK_USDC	+0.0031%	8h	12.962	−0.054%	$96K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.387%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.961	−0.059%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.973	+0.032%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.965	−0.032%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.964	−0.039%	$347K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.974	+0.035%	$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	12.961	−0.063%	$276K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.973	+0.031%	$119.4M	$302.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.970	+0.008%	$83.6M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.974	+0.039%	$27.0M	$81.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.980	+0.085%	$181K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.963	−0.046%	$124.6M	$15.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.967	−0.015%	$33.0M	$57.9M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	12.969	long leg	$22.9M	$13.1M	75x
Bitget LINKUSDT	+0.0100%	8h	12.968	−0.008%	$54.2M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.971	+0.015%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.963	−0.044%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.946	−0.177%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.924	−0.344%	$588K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.951	−0.139%	$132K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.973	+0.031%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.970	+0.004%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.980	+0.087%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.974	+0.039%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.944	−0.190%	$634K	$782K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.959	−0.075%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.975	+0.043%	$544K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0120%	1h	12.977	+0.062%	$338K	$390K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.981	+0.093%	$923K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.970	+0.008%	$5.2M	$15.9M	75x	as long as short
Hyperliquid LINK	+0.0242%	1h	12.987	+0.139%	$81.0M	$27.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0276%	1h	12.976	+0.051%	$6.7M	$8.3M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0374%	1h	12.982	+0.103%	$807K	$249K	50x	as long as short
Reya LINKRUSDPERP	+0.0396%	1h	12.965	−0.027%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0559%	8h	12.976	+0.054%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0629%	1h	12.966	−0.024%	$345K	$33K	10x	as long as short