Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%

Price spread now: BingX against gTrade (Gains Network)−0.324%121s7-day average — · 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—prices read too far apart to compare

costs, in and out, $10k−$2972.966% of the position

Long on gTrade (Gains Network)Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BingX is 0.324% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.324% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$32 on $10k: about 11 days of funding at the current rate (+$3 a day). The two prices were read 121 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	gTrade (Gains Network) LINK/USD	13.046	L +0.0004% / S −0.0001%	pay 0.0000% / 1h	58m 10s	$107K	—	150x
Short	BingX LINK-USDT	13.004	0.0100	get 0.0100% / 8h	6h 58m	—	$22.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now −0.324%Rate

Funding earned: $20.17
Price spread: −0.324% → 0.000%: −$32.42
Slippage, 4 orders: −$276.58
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$308.83
Costs to cover: 2.966%
Break-even: 114.2 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 31 min ago; BingX: live order book, 6 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 gTrade (Gains Network) virtual book (oracle venue), 31 min ago	130.03 bp	141.1 bp −$141	963.5 bp −$9,635	10292.4 bp −$1.03M	doesn't fit
Sell BingX live order book, 6 min ago	1.15 bp	6.2 bp −$6	8.1 bp −$81	18.9 bp −$1,885	58.0 bp −$29.0K

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	−0.0134%	8h	13.002	−0.340%	$90K	$908K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	13.056	+0.076%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.026	−0.157%	$499K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0001%	1h	13.046	long leg	$107K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.954%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0044%	1h	13.003	−0.331%	$6.5M	$8.3M	50x	as long as short
Phoenix LINK	+0.0087%	1h	13.051	+0.038%	$3K	$84K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.005	−0.317%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.002	−0.336%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.005	−0.317%	$350K	$312K	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	13.013	−0.255%	$81.2M	$27.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.004	−0.324%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.009	−0.286%	$277K	$167K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.999	−0.366%	$120.4M	$286.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.997	−0.378%	$84.2M	$70.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.998	−0.370%	$27.3M	$77.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.025	−0.163%	$182K	$86K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.004	−0.324%	$134.6M	$17.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.006	−0.309%	$36.0M	$56.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.013	−0.255%	$23.2M	$12.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.002	−0.340%	$54.4M	$28.3M	75x	as long as short
BingX LINK-USDTshort	+0.0100%	8h	13.004	−0.324%	—	$22.8M	—
Backpack LINK_USDC_PERP	+0.0100%	1h	13.022	−0.186%	$338K	$369K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.038	−0.063%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.049	+0.024%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.050	+0.026%	$593K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.058	+0.090%	$134K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.014	−0.248%	$83K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.014	−0.251%	$34K	$1.3M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.000	−0.355%	$12K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.998	−0.369%	$624K	$689K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.000	−0.351%	$624K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.006	−0.306%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0208%	1h	13.007	−0.301%	$941K	$3.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.013	−0.255%	$5.3M	$15.9M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0334%	1h	13.013	−0.254%	$874K	$331K	50x	as long as short
Reya LINKRUSDPERP	+0.0405%	1h	13.012	−0.265%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0406%	8h	13.015	−0.240%	$20.1M	$11.0M	50x	as long as short
dYdX LINK-USD	+0.1647%	1h	13.008	−0.294%	$350K	$48K	10x	as long as short