Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.029%

Price spread now: HTX against gTrade (Gains Network)−0.255%7-day average −0.082% · 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−$345as in the Price arb table

costs, in and out, $10k−$3273.274% of the position

Long on gTrade (Gains Network)Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.094%+$9 on $10k

Price spread, last 4 days (all we have)+0.150%+$15 · spread now −0.255%, 7d avg −0.082%

Together, before fees+0.244%+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.173% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.255% now, against its 7-day average of −0.082%). If the spread goes back, that is −$17 on $10k: about 6.0 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) LINK/USD	12.956	L +0.0004% / S −0.0005%	pay 0.0001% / 1h	16m 48s	$156K	—	150x
Short	HTX LINK-USDT	12.923	0.0100	get 0.0100% / 8h	1h 16m	$631K	$790K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.255%Rate

Funding earned: $20.09
Price spread: −0.255% → −0.082%: −$17.34
Slippage, 4 orders: −$305.44
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$324.69
Costs to cover: 3.274%
Break-even: 120.1 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 22 min ago; HTX: live order book, 27 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), 22 min ago	130.03 bp	141.1 bp −$141	963.4 bp −$9,634	10292.3 bp −$1.03M	doesn't fit
Sell HTX live order book, 27 min ago	15.40 bp	21.5 bp −$22	177.9 bp −$1,779	doesn't fit	doesn't fit

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
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.956	0.000%	$1.8M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0023%	8h	12.946	−0.077%	$94K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.963	+0.053%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0005%	1h	12.956	long leg	$156K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.291%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.960	+0.030%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.963	+0.052%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.954	−0.013%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.949	−0.050%	$355K	$341K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.965	+0.066%	$1.3M	$2.4M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.954	−0.015%	$276K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.966	+0.074%	$119.7M	$301.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.957	+0.008%	$83.7M	$73.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.961	+0.039%	$27.1M	$80.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.969	+0.100%	$181K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.962	+0.046%	$124.9M	$15.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.964	+0.062%	$34.8M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.967	+0.085%	$23.0M	$12.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.961	+0.039%	$54.2M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.963	+0.054%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.935	−0.160%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.946	−0.080%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.943	−0.101%	$586K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.949	−0.054%	$132K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.959	+0.023%	$81K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.973	+0.131%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.960	+0.031%	$10K	$61K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	12.923	−0.255%	$631K	$790K	75x
Extended LINK-USD	+0.0104%	1h	12.957	+0.007%	$629K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.960	+0.034%	$543K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.963	+0.054%	$937K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0132%	1h	12.969	+0.100%	$337K	$388K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0192%	1h	12.963	+0.054%	$6.7M	$8.3M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0213%	1h	12.964	+0.062%	$811K	$266K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.952	−0.031%	$5.2M	$15.9M	75x	as long as short
Hyperliquid LINK	+0.0267%	1h	12.971	+0.116%	$81.1M	$27.9M	10x	as long as short
Reya LINKRUSDPERP	+0.0398%	1h	12.951	−0.042%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0551%	8h	12.972	+0.123%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0659%	1h	12.950	−0.043%	$345K	$45K	10x	as long as short