Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.017%

Price spread now: Bybit against gTrade (Gains Network)+0.002%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$298as in the Price arb table

costs, in and out, $10k−$3013.012% of the position

Long on gTrade (Gains Network)Short on Bybit

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)−0.282%−$28 · spread now +0.002%, 7d avg −0.032%

Together, before fees−0.216%−$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.033% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) LINK/USD	13.153	L +0.0004% / S −0.0006%	pay 0.0000% / 1h	11m 42s	$133K	—	150x
Short	Bybit LINKUSDT	13.153	0.0100	get 0.0100% / 8h	2h 11m	$84.7M	$69.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.002%Rate

Funding earned: $20.19
Price spread: +0.002% → −0.032%: $3.33
Slippage, 4 orders: −$280.21
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$277.69
Costs to cover: 3.012%
Break-even: 103.3 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 7 min ago; Bybit: live order book, 7 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), 7 min ago	130.05 bp	141.1 bp −$141	963.4 bp −$9,634	10292.3 bp −$1.03M	doesn't fit
Sell Bybit live order book, 7 min ago	0.38 bp	7.7 bp −$8	16.2 bp −$162	41.6 bp −$4,158	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 −0.0092% / S +0.0167%	1h	13.153	+0.001%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.155	+0.016%	$470K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.156	+0.024%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0006%	1h	13.153	long leg	$133K	—	150x
dYdX LINK-USD	+0.0015%	1h	13.152	−0.003%	$348K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.185	+0.243%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.723%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.149	−0.029%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.159	+0.050%	$2.1M	$2.4M	10x	as long as short
Variational Omni LINK	+0.0097%	8h	13.185	+0.244%	$3.3M	$1.5M	—	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.156	+0.023%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.142	−0.082%	$400K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.164	+0.085%	$77.6M	$23.7M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.155	+0.017%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.156	+0.021%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.157	+0.032%	$122.1M	$302.0M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.153	+0.002%	$84.7M	$69.8M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.157	+0.032%	$27.9M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.172	+0.146%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.152	−0.006%	$130.5M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.158	+0.040%	$36.8M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.158	+0.040%	$22.4M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.154	+0.009%	$54.5M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.156	+0.024%	—	$21.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.182	+0.223%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.187	+0.260%	$595K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.184	+0.237%	$153K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.156	+0.024%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.148	−0.034%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.165	+0.092%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.150	−0.021%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.137	−0.121%	$646K	$907K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.154	+0.010%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.155	+0.015%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.161	+0.062%	$990K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0114%	1h	13.161	+0.062%	$366K	$373K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.143	−0.075%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.150	−0.022%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0465%	8h	13.167	+0.108%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	13.160	+0.058%	$6.9M	$7.9M	50x	as long as short