Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0386%/8h= −42.3% APRpaid last 24h −0.099%

Price spread now: GMX against BloFin+0.005%7-day average +0.025% · you sell dearer than you buy

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.370%−$37 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now +0.005%, 7d avg +0.025%

Together, before fees−0.320%−$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and GMX is 0.020% cheaper against BloFin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LINK-USDT	12.939	0.0220	pay 0.0220% / 8h	3h 25m	$5.2M	$15.7M	75x
Short	GMX LINK/USD [LINK-USDC]	12.940	L −0.0089% / S +0.0166%	pay 0.0021% / 1h	25m 17s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$81.05
Price spread: +0.005% → +0.025%: −$2.02
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$107.07
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 9 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 BloFin live order book, 9 min ago	1.15 bp	7.4 bp −$7	10.4 bp −$104	25.5 bp −$2,554	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 −0.0089% / S +0.0166%	1h	12.940	+0.005%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.951	+0.093%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.941	+0.016%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.166%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0049%	8h	12.937	−0.015%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.990	+0.393%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.939	−0.001%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.948	+0.069%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.943	+0.031%	$391K	$308K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.945	+0.045%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.950	+0.083%	$276K	$181K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.939	+0.003%	$120.1M	$299.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.937	−0.015%	$83.6M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.940	+0.008%	$27.4M	$80.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.962	+0.178%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.939	0.000%	$128.2M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.942	+0.023%	$32.7M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.947	+0.062%	$22.7M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.939	0.000%	$53.9M	$29.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.943	+0.031%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.947	+0.062%	$340K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.938	−0.007%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.952	+0.099%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.976	+0.286%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.955	+0.124%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.949	+0.077%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.939	−0.003%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.952	+0.100%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.939	0.000%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.934	−0.040%	$635K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.936	−0.025%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.942	+0.023%	$543K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.953	+0.108%	$922K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0105%	1h	12.945	+0.043%	$786K	$210K	50x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	12.939	long leg	$5.2M	$15.7M	75x
Kraken Futures PF_LINKUSD	+0.0244%	1h	12.942	+0.021%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0329%	1h	12.957	+0.139%	$80.9M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0392%	1h	12.939	+0.001%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0551%	8h	12.958	+0.147%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0810%	1h	12.948	+0.068%	$344K	$31K	10x	as long as short