Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0265%/8h= −29.0% APRpaid last 24h −0.074%

Price spread now: GMX against Aster−0.160%51s7-day average −0.014% · you buy dearer than you sell

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

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.274%−$27 on $10k

Price spread, last 4 days (all we have)+0.207%+$21 · spread now −0.160%, 7d avg −0.014%

Together, before fees−0.067%+ Points / potential airdropAster: Stage 5 · farm board−$7 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 0.147% cheaper against Aster than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.014%). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster LINKUSDT	13.026	0.0100	pay 0.0100% / 8h	7h 12m	$1.2M	$2.4M	50x
Short	GMX LINK/USD [LINK-USDC]	13.005	L −0.0087% / S +0.0165%	pay 0.0021% / 1h	12m 27s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.160%Rate

Funding earned: −$55.7
Price spread: −0.160% → −0.014%: −$14.66
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$90.36
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 1 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 Aster live order book, 1 min ago	2.31 bp	7.4 bp −$7	20.1 bp −$201	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 39 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
Orderly PERP_LINK_USDC	−0.0125%	8h	13.001	−0.190%	$91K	$920K	20x	as long as short
GMX LINK/USD [LINK-USDC]short	L −0.0087% / S +0.0165%	1h	13.005	−0.160%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.017	−0.068%	$498K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0002%	1h	13.004	−0.167%	$107K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.804%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	13.005	−0.162%	$6.5M	$8.4M	50x	as long as short
Phoenix LINK	+0.0087%	1h	12.970	−0.425%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.021	−0.034%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.021	−0.040%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.015	−0.078%	$350K	$320K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	13.028	+0.018%	$81.4M	$27.7M	10x	as long as short
Aster LINKUSDTlong	+0.0100%	8h	13.026	long leg	$1.2M	$2.4M	50x
Pacifica LINK	+0.0100%	1h	13.022	−0.027%	$277K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.025	−0.005%	$120.3M	$289.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.024	−0.013%	$84.3M	$70.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.026	+0.002%	$27.4M	$77.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.035	+0.071%	$182K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.022	−0.028%	$135.0M	$17.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.024	−0.013%	$35.2M	$60.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.026	+0.002%	$23.2M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.026	+0.002%	$54.5M	$28.8M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.021	−0.036%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.018	−0.059%	$337K	$375K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.995	−0.239%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.991	−0.269%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.001	−0.191%	$586K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.994	−0.243%	$133K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.029	+0.025%	$83K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.017	−0.065%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.002	−0.182%	$12K	$58K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.988	−0.288%	$623K	$698K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.017	−0.064%	$621K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.004	−0.168%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.995	−0.236%	$934K	$3.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.007	−0.144%	$5.3M	$16.0M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0288%	1h	13.012	−0.106%	$851K	$302K	50x	as long as short
Phemex LINKUSDT	+0.0352%	8h	13.018	−0.059%	$20.1M	$11.4M	50x	as long as short
Reya LINKRUSDPERP	+0.0404%	1h	13.002	−0.179%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.1009%	1h	13.008	−0.133%	$350K	$49K	10x	as long as short