LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0257%/8h= +28.1% APRnext payment +$0.32 per $10,000 · paid last 24h +0.021%

Price spread now: Deribit against GMX+0.062%7-day average −0.022% · you sell dearer than you buy

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.078%+$8 on $10k

Price spread, last 4 days (all we have)−0.075%−$7 · spread now +0.062%, 7d avg −0.022%

Together, before fees+0.003%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Deribit is 0.083% dearer against GMX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.022%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.078% in total (about 8.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.32 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	12.956	L −0.0090% / S +0.0167%	get 0.0011% / 1h	22m 19s	$1.8M	—	200x
Short	Deribit LINK_USDC-PERPETUAL	12.964	0.0167	get 0.0021% / 1h	22m 19s	$779K	$202K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GMX. 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 GMXbpFee DeribitbpOrdersPrice spread, now +0.062%Rate

Funding earned: $53.88
Price spread: +0.062% → −0.022%: $8.32
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $43.2
Costs to cover: 0.190%
Break-even: 1.4 days

Slippage unknown: GMX: no order-book sample; Deribit: live order book, 37 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Deribit live order book, 37 min ago	4.64 bp	8.1 bp −$8	doesn't fit	doesn't fit	doesn't fit

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 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]long	L −0.0090% / S +0.0167%	1h	12.956	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.962	+0.041%	$519K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.958	+0.010%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.295%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	12.955	−0.011%	$117K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.957	+0.008%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.965	+0.066%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.970	+0.108%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.960	+0.025%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.955	−0.011%	$392K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.961	+0.038%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.959	+0.019%	$274K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.954	−0.020%	$119.9M	$297.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.946	−0.080%	$83.5M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.946	−0.080%	$27.4M	$81.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.980	+0.182%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.961	+0.035%	$128.2M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.961	+0.035%	$33.0M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.965	+0.066%	$22.7M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.960	+0.028%	$53.9M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.957	+0.004%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.966	+0.074%	$339K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.954	−0.018%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.967	+0.084%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.967	+0.083%	$581K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.975	+0.143%	$133K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.968	+0.089%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.957	+0.006%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.973	+0.125%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.958	+0.012%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.944	−0.100%	$635K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.956	−0.006%	$632K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.960	+0.024%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0167%	1h	12.964	+0.062%	$779K	$202K	50x
BloFin LINK-USDT	+0.0220%	8h	12.966	+0.074%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0368%	1h	12.976	+0.151%	$81.2M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.956	−0.004%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.961	+0.039%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0414%	1h	12.958	+0.009%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0535%	8h	12.967	+0.082%	$20.0M	$11.4M	50x	as long as short