Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.023%

Price spread now: gTrade (Gains Network) against Binance−0.041%7-day average +0.008% · 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−$300as in the Price arb table

costs, in and out, $10k−$2952.950% of the position

Long on Binance 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)+0.093%+$9 · spread now −0.041%, 7d avg +0.008%

Together, before fees+0.003%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.049% cheaper against Binance than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.008%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LINKUSDT	13.008	0.0100	pay 0.0100% / 8h	6h 48m	$120.3M	$302.2M	75x
Short	gTrade (Gains Network) LINK/USD	13.003	L +0.0004% / S −0.0008%	get 0.0001% / 1h	48m 19s	$150K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Binance. 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 BinancebpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.041%Rate

Funding earned: −$19.28
Price spread: −0.041% → +0.008%: −$4.91
Slippage, 4 orders: −$275.02
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$319.21
Costs to cover: 2.950%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; gTrade (Gains Network): virtual book (oracle venue), 16 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 Binance live order book, 10 min ago	0.38 bp	5.4 bp −$5	10.0 bp −$100	32.5 bp −$3,254	119.4 bp −$59.7K
Sell gTrade (Gains Network) virtual book (oracle venue), 16 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 −0.0090% / S +0.0167%	1h	13.003	−0.040%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.026	+0.138%	$463K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0004% / S −0.0008%	1h	13.003	−0.041%	$150K	—	150x
dYdX LINK-USD	+0.0029%	1h	13.025	+0.130%	$345K	$48K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.674%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.022	+0.110%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	13.006	−0.015%	$122K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.031	+0.177%	$957K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.025	+0.130%	$1.9M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.060	+0.400%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.007	−0.012%	$392K	$310K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.017	+0.070%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.024	+0.123%	$276K	$164K	10x	as long as short
Binance LINKUSDTlong	+0.0100%	8h	13.008	long leg	$120.3M	$302.2M	75x
Bybit LINKUSDT	+0.0100%	8h	13.007	−0.008%	$83.8M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.013	+0.038%	$27.3M	$84.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.031	+0.177%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.012	+0.031%	$128.8M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.005	−0.023%	$35.2M	$58.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.007	−0.008%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.004	−0.031%	$53.8M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.005	−0.023%	—	$22.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.025	+0.131%	$342K	$389K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.991	−0.127%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.980	−0.213%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.984	−0.188%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.985	−0.177%	$134K	$681K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.016	+0.062%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.009	+0.008%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.028	+0.158%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.011	+0.023%	$15K	$42K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.987	−0.160%	$641K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.008	−0.001%	$660K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.011	+0.019%	$546K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0157%	1h	13.015	+0.058%	$773K	$212K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.004	−0.031%	$5.3M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0383%	1h	13.000	−0.065%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0470%	1h	13.022	+0.108%	$80.0M	$29.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0501%	1h	13.016	+0.064%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0607%	8h	13.028	+0.154%	$20.1M	$11.5M	50x	as long as short