LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0169%/8h= −18.5% APRnext payment −$0.21 per $10,000 · paid last 24h −0.047%

Price spread now: GMX against gTrade (Gains Network)−0.099%179s7-day average +0.026% · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.171%−$17 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.099%, 7d avg +0.026%

Together, before fees−0.079%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and GMX is 0.126% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.026%). Swap the legs. The two prices were read 179 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	12.899	L +0.0004% / S −0.0001%	pay 0.0000% / 1h	7m 19s	$114K	—	150x
Short	GMX LINK/USD [LINK-USDC]	12.886	L −0.0087% / S +0.0165%	pay 0.0021% / 1h	7m 19s	$1.7M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$35.5
Price spread: −0.099% → +0.026%: −$12.55
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$70.06
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): virtual book (oracle exchange), 39 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 gTrade (Gains Network) virtual book (oracle exchange), 39 min ago	130.06 bp	141.1 bp −$141	963.5 bp −$9,635	10292.4 bp −$1.03M	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 exchanges

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	−0.0240%	8h	12.900	+0.008%	$84K	$842K	20x	as long as short
GMX LINK/USD [LINK-USDC]short	L −0.0087% / S +0.0165%	1h	12.886	−0.099%	$1.7M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.902	+0.025%	$479K	$2.0M	3.7x	as long as short
Phoenix LINK	0.0000%	1h	12.896	−0.019%	$3K	$81K	10x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0001%	1h	12.899	long leg	$114K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.869%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0075%	8h	12.874	−0.192%	$3.4M	$1.7M	—	as long as short
Lighter LINK	+0.0096%	1h	12.908	+0.069%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	12.907	+0.060%	$31K	$600	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.905	+0.043%	$346K	$274K	10x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.913	+0.109%	$81.2M	$25.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.912	+0.101%	$1.2M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.908	+0.070%	$274K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.909	+0.081%	$120.1M	$265.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.903	+0.031%	$83.9M	$66.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.908	+0.070%	$27.5M	$72.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.922	+0.178%	$181K	$84K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.908	+0.070%	$133.2M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.911	+0.093%	$36.0M	$56.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.910	+0.085%	$23.0M	$11.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.902	+0.023%	$54.0M	$25.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.905	+0.047%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.907	+0.062%	$325K	$352K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.884	−0.119%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.890	−0.072%	$585K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.891	−0.062%	$104K	$685K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.913	+0.109%	$82K	$65K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.902	+0.026%	$16K	$18K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.924	+0.191%	$33K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.910	+0.085%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.892	−0.058%	$605K	$674K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.901	+0.018%	$625K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.911	+0.091%	$541K	$2K	3x	as long as short
Kraken Futures PF_LINKUSD	+0.0174%	1h	12.912	+0.099%	$6.6M	$7.5M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0200%	1h	12.910	+0.085%	$989K	$3.1M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.913	+0.109%	$5.4M	$15.0M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0377%	1h	12.917	+0.140%	$890K	$361K	50x	as long as short
Phemex LINKUSDT	+0.0380%	8h	12.926	+0.209%	$20.0M	$10.2M	50x	as long as short
Reya LINKRUSDPERP	+0.0410%	1h	12.895	−0.030%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0489%	1h	12.899	+0.002%	$347K	$28K	10x	as long as short