Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0094%/8h= −10.2% APRpaid last 24h −0.016%

Price spread now: gTrade (Gains Network) against Bybit−0.066%7-day average +0.032% · 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−$308as in the Price arb table

costs, in and out, $10k−$2982.980% of the position

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.066%−$7 on $10k

Price spread, last 3 days (all we have)+0.174%+$17 · spread now −0.066%, 7d avg +0.032%

Together, before fees+0.108%+$11 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 0.098% cheaper against Bybit than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LINKUSDT	13.185	0.0100	pay 0.0100% / 8h	1h 14m	$85.1M	$70.5M	75x
Short	gTrade (Gains Network) LINK/USD	13.176	L +0.0004% / S −0.0006%	get 0.0001% / 1h	14m 52s	$134K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bybit. 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 BybitbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.066%Rate

Funding earned: −$19.64
Price spread: −0.066% → +0.032%: −$9.84
Slippage, 4 orders: −$277.05
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$327.53
Costs to cover: 2.980%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 64 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 Bybit live order book, 4 min ago	0.38 bp	7.9 bp −$8	12.8 bp −$128	33.5 bp −$3,349	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 64 min ago	130.05 bp	142.5 bp −$143	1049.3 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	13.177	−0.061%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.173	−0.090%	$349K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.172	−0.098%	$461K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.178	−0.051%	$720K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0004% / S −0.0006%	1h	13.176	−0.066%	$134K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.954%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.167	−0.140%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.174	−0.083%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.188	+0.026%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.172	−0.096%	$32K	$3K	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	13.173	−0.091%	$403K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.199	+0.106%	$77.9M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.188	+0.021%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.174	−0.083%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.187	+0.015%	$122.4M	$303.0M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	13.185	long leg	$85.1M	$70.5M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.187	+0.015%	$27.8M	$86.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.190	+0.038%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.188	+0.023%	$130.8M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.186	+0.008%	$36.3M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.188	+0.023%	$22.4M	$15.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.183	−0.015%	$54.9M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.187	+0.015%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.184	−0.009%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.179	−0.043%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	−0.008%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.187	+0.015%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.177	−0.061%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.173	−0.089%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.190	+0.038%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.181	−0.030%	$5K	$37K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.158	−0.203%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.181	−0.032%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.178	−0.051%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.189	+0.030%	$994K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0211%	1h	13.194	+0.068%	$366K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.183	−0.015%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.173	−0.089%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0470%	8h	13.189	+0.030%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0693%	1h	13.193	+0.057%	$7.0M	$8.1M	50x	as long as short