Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0267%/8h= −29.2% APRpaid last 24h −0.065%

Price spread now: GMX against Bitget−0.047%7-day average +0.051% · you buy dearer than you sell

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.235%−$24 on $10k

Price spread, last 3 days (all we have)+0.125%+$12 · spread now −0.047%, 7d avg +0.051%

Together, before fees−0.110%−$11 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 0.098% cheaper against Bitget than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.051%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget LINKUSDT	13.251	0.0100	pay 0.0100% / 8h	50m 37s	$55.2M	$30.5M	75x
Short	GMX LINK/USD [LINK-USDC]	13.245	L −0.0090% / S +0.0167%	pay 0.0021% / 1h	50m 37s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$55.97
Price spread: −0.047% → +0.051%: −$9.83
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$89.8
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 3 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 Bitget live order book, 3 min ago	0.38 bp	9.1 bp −$9	13.6 bp −$136	23.7 bp −$2,374	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 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]short	L −0.0090% / S +0.0167%	1h	13.245	−0.047%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.252	+0.006%	$476K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.248	−0.019%	$726K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.246	−0.041%	$135K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.240	−0.084%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.422%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.243	−0.060%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.255	+0.032%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.257	+0.046%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.246	−0.038%	$406K	$314K	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	13.255	+0.027%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.258	+0.052%	$278K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.257	+0.043%	$123.5M	$303.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.252	+0.008%	$85.6M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.251	0.000%	$28.0M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.266	+0.113%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.245	−0.045%	$131.2M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.252	+0.008%	$36.9M	$57.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.259	+0.060%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDTlong	+0.0100%	8h	13.251	long leg	$55.2M	$30.5M	75x
BingX LINK-USDC	+0.0100%	8h	13.249	−0.015%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.231	−0.153%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.250	−0.008%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.248	−0.023%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.258	+0.053%	$154K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.249	−0.015%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.241	−0.077%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.258	+0.050%	$35K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.246	−0.038%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.212	−0.293%	$650K	$892K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.246	−0.038%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.247	−0.033%	$555K	$2K	3x	as long as short
dYdX LINK-USD	+0.0125%	1h	13.257	+0.042%	$351K	$48K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.244	−0.053%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.240	−0.083%	$5.3M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0295%	1h	13.270	+0.143%	$78.5M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.243	−0.058%	$5K	—	20x	as long as short
Backpack LINK_USDC_PERP	+0.0380%	1h	13.252	+0.008%	$366K	$381K	15x	as long as short
Phemex LINKUSDT	+0.0470%	8h	13.261	+0.075%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0474%	1h	13.254	+0.022%	$7.0M	$8.2M	50x	as long as short