Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0265%/8h= −29.0% APRpaid last 24h −0.070%

Price spread now: GMX against MEXC−0.005%7-day average +0.014% · you buy dearer than you sell

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.272%−$27 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.005%, 7d avg +0.014%

Together, before fees−0.180%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$8 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	12.915	0.0100	pay 0.0100% / 8h	5h 06m	$36.1M	$56.0M	300x
Short	GMX LINK/USD [LINK-USDC]	12.914	L −0.0087% / S +0.0165%	pay 0.0021% / 1h	6m 26s	$1.7M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$55.7
Price spread: −0.005% → +0.014%: −$1.92
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$69.62
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: MEXC: 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 MEXC live order book, 6 min ago	0.39 bp	0.4 bp $0	3.5 bp −$35	22.9 bp −$2,292	45.3 bp −$22.6K
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 exchanges

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
Orderly PERP_LINK_USDC	−0.0241%	8h	12.903	−0.093%	$84K	$841K	20x	as long as short
GMX LINK/USD [LINK-USDC]short	L −0.0087% / S +0.0165%	1h	12.914	−0.005%	$1.7M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.912	−0.025%	$479K	$2.0M	3.7x	as long as short
Phoenix LINK	0.0000%	1h	12.896	−0.143%	$3K	$81K	10x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.899	−0.124%	$114K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.988%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0075%	8h	12.874	−0.316%	$3.4M	$1.7M	—	as long as short
Lighter LINK	+0.0096%	1h	12.910	−0.040%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	12.907	−0.059%	$31K	$600	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.907	−0.062%	$346K	$274K	10x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.920	+0.039%	$81.3M	$25.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.919	+0.030%	$1.2M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.911	−0.031%	$274K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.915	+0.001%	$120.1M	$265.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.907	−0.062%	$84.0M	$66.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.911	−0.031%	$27.5M	$72.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.927	+0.093%	$181K	$84K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.912	−0.023%	$133.2M	$17.5M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	12.915	long leg	$36.1M	$56.0M	300x
KuCoin LINKUSDTM	+0.0100%	8h	12.916	+0.008%	$23.0M	$11.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.906	−0.070%	$54.0M	$25.9M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.913	−0.015%	—	$23.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.921	+0.046%	$325K	$352K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.884	−0.242%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.890	−0.196%	$585K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.891	−0.186%	$104K	$685K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.916	+0.008%	$82K	$65K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.902	−0.098%	$16K	$18K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.924	+0.067%	$33K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.910	−0.039%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.892	−0.182%	$605K	$674K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.902	−0.102%	$625K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.914	−0.008%	$542K	$2K	3x	as long as short
Kraken Futures PF_LINKUSD	+0.0174%	1h	12.912	−0.025%	$6.6M	$7.5M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0200%	1h	12.910	−0.039%	$989K	$3.1M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.913	−0.015%	$5.4M	$15.0M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0362%	1h	12.919	+0.033%	$890K	$361K	50x	as long as short
Phemex LINKUSDT	+0.0380%	8h	12.926	+0.085%	$20.0M	$10.2M	50x	as long as short
Reya LINKRUSDPERP	+0.0410%	1h	12.908	−0.053%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0482%	1h	12.907	−0.065%	$347K	$24K	10x	as long as short