Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.023%

Price spread now: gTrade (Gains Network) against MEXC−0.003%7-day average +0.007% · 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−$285as in the Price arb table

costs, in and out, $10k−$2842.845% of the position

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.091%−$9 on $10k

Price spread, last 3 days (all we have)+0.053%+$5 · spread now −0.003%, 7d avg +0.007%

Together, before fees−0.038%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.007%, 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	MEXC LINK_USDT	13.147	0.0100	pay 0.0100% / 8h	7h 48m	$36.5M	$58.0M	300x
Short	gTrade (Gains Network) LINK/USD	13.147	L +0.0004% / S −0.0007%	get 0.0001% / 1h	48m 25s	$133K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against MEXC. 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 MEXCbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.003%Rate

Funding earned: −$19.6
Price spread: −0.003% → +0.007%: −$1.02
Slippage, 4 orders: −$274.45
Fee MEXC: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$305.08
Costs to cover: 2.845%
Break-even: never at this rate

Slippage from MEXC: live order book, 11 min ago; gTrade (Gains Network): virtual book (oracle venue), 21 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 MEXC live order book, 11 min ago	0.38 bp	0.6 bp −$1	3.9 bp −$39	30.9 bp −$3,089	50.7 bp −$25.4K
Sell gTrade (Gains Network) virtual book (oracle venue), 21 min ago	130.01 bp	142.5 bp −$142	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 −0.0091% / S +0.0167%	1h	13.141	−0.044%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.161	+0.105%	$468K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.148	+0.009%	$760K	$181K	50x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0004% / S −0.0007%	1h	13.147	−0.003%	$133K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.682%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.154	+0.052%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.143	−0.030%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.153	+0.046%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.144	−0.023%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.148	+0.011%	$403K	$313K	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	13.151	+0.030%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.153	+0.046%	$276K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.145	−0.015%	$122.1M	$306.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.144	−0.023%	$84.8M	$71.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.145	−0.015%	$27.8M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.161	+0.106%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.145	−0.015%	$130.2M	$12.2M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	13.147	long leg	$36.5M	$58.0M	300x
KuCoin LINKUSDTM	+0.0100%	8h	13.149	+0.015%	$22.8M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.141	−0.046%	$54.7M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.146	−0.008%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.145	−0.012%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.171	+0.180%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.170	+0.175%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.144	−0.023%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.148	+0.008%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.142	−0.035%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.156	+0.065%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.141	−0.046%	$5K	$30K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.138	−0.068%	$646K	$874K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.140	−0.051%	$740K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.146	−0.010%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.153	+0.046%	$1.0M	$2.8M	50x	as long as short
dYdX LINK-USD	+0.0199%	1h	13.155	+0.062%	$348K	$48K	10x	as long as short
Backpack LINK_USDC_PERP	+0.0214%	1h	13.162	+0.114%	$365K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.161	+0.106%	$5.2M	$16.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.151	+0.033%	$6.9M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.142	−0.037%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0468%	8h	13.165	+0.137%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0483%	1h	13.163	+0.122%	$79.8M	$24.7M	10x	as long as short