Spread before costs (cost unknown: a leg has no order-book sample)−0.072%
7d average—if it closes, per $10,000$7funding while held, a day+$5.62
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX LINK/USD [LINK-USDC] | 13.029 | L −0.0087% / S +0.0158% | get 0.0011% / 1h | 9m 46s | $1.7M | — | 200x |
| Short | Derive LINK-PERP | 13.019 | 0.0100 | get 0.0013% / 1h | 9m 46s | $28K | $10K | 10x |
GMX LINK/USD [LINK-USDC]
Derive LINK-PERPPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$7.25
- Funding while held
- $5.62
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$19.63
- Spread needed to break even
- 0.180%
Slippage unknown: GMX: no order-book sample; Derive: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0187%
- Per $10,000 a day
- +$5.62
- Average in range /8h
- —
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 Derive no order-book sample | — | — | — | — | — |
GMX and Derive: 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 price on every exchange
against the cheapest. Click to use as the short leg.Injective12.400cheapestApeX Omni13.001+4.847%edgeX13.013+4.943%HTX13.016+4.969%Phoenix13.016+4.971%Nado13.019+4.994%
Injective
ApeX Omni
HTX
Phoenix
NadoDerive13.019+4.995%
Paradex13.022+5.018%Extended13.023+5.021%SoDEX13.023+5.024%Reya13.023+5.025%Lighter13.024+5.030%Bybit13.025+5.040%OKX13.025+5.040%MEXC13.025+5.040%BingX13.025+5.040%Binance13.026+5.048%Bitget13.026+5.048%Aevo13.026+5.052%Gate13.027+5.056%KuCoin13.027+5.056%Polymarket Perps13.027+5.056%Orderly13.027+5.056%Variational Omni13.028+5.064%Deribit13.028+5.067%Kraken Futures13.029+5.071%
Paradex
Extended
SoDEX
Reya
Lighter
Bybit
OKX
MEXC
BingX
Binance
Bitget
Aevo
Gate
KuCoin
Polymarket Perps
Orderly
Variational Omni
Deribit
Kraken FuturesGMX13.029+5.071%
gTrade (Gains Network)13.030+5.077%Pacifica13.034+5.113%dYdX13.036+5.129%BloFin13.036+5.129%Aster13.036+5.130%Hyperliquid13.037+5.137%SunX13.038+5.148%Arcus13.040+5.161%Backpack13.040+5.161%Phemex13.042+5.177%Kalshi13.042+5.178%Coinbase International13.046+5.210%
gTrade (Gains Network)
Pacifica
dYdX
BloFin
Aster
Hyperliquid
SunX
Arcus
Backpack
Phemex
Coinbase InternationalLINK on 39 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective LINK/USDC PERP | −4.827% | +0.0033% | 1h | $4K | $106K | 12x | as long as short |
| ApeX Omni LINKUSDT | −0.214% | +0.0100% | 1h | $132K | $653K | 50x | as long as short |
| edgeX LINKUSDC | −0.122% | +0.0100% | 4h | $43K | $311K | 20x | as long as short |
| HTX LINK-USDT | −0.098% | +0.0100% | 8h | $646K | $1.0M | 75x | as long as short |
| Phoenix LINK | −0.096% | −0.0062% | 1h | $3K | $47K | 10x | as long as short |
| Nado LINK-PERP | −0.074% | +0.0100% | 1h | $431K | $363K | 10x | as long as short |
| Derive LINK-PERPshort | −0.072% | +0.0100% | 1h | $28K | $10K | 10x | |
| Paradex LINK-USD-PERP | −0.051% | +0.0017% | 8h | $32K | $2K | 20x | as long as short |
| Extended LINK-USD | −0.048% | +0.0064% | 1h | $677K | $1.8M | 25x | as long as short |
| SoDEX LINK-USD | −0.045% | −0.0056% | 1h | $8K | $42K | 10x | as long as short |
Show all 39 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Reya LINKRUSDPERP | −0.044% | +0.0357% | 1h | $4K | $400 | 20x | as long as short |
| Lighter LINK | −0.039% | +0.0048% | 1h | $2.0M | $2.0M | 10x | as long as short |
| Bybit LINKUSDT | −0.030% | −0.0020% | 8h | $80.8M | $60.6M | 75x | as long as short |
| OKX LINK-USDT-SWAP | −0.030% | +0.0035% | 8h | $27.6M | $91.6M | 50x | as long as short |
| MEXC LINK_USDT | −0.030% | +0.0039% | 8h | $34.9M | $58.2M | 300x | as long as short |
| BingX LINK-USDT | −0.030% | +0.0100% | 8h | — | $19.8M | — | as long as short |
| Binance LINKUSDT | −0.022% | +0.0041% | 8h | $119.1M | $286.5M | 75x | as long as short |
| Bitget LINKUSDT | −0.022% | +0.0100% | 8h | $54.3M | $30.2M | 75x | as long as short |
| Aevo LINK-PERP | −0.018% | +0.0088% | 1h | $548K | $340 | 3x | as long as short |
| Gate LINK_USDT | −0.014% | −0.0007% | 8h | $132.7M | $12.6M | 75x | as long as short |
| KuCoin LINKUSDTM | −0.014% | +0.0100% | 8h | $21.3M | $17.4M | 75x | as long as short |
| Polymarket Perps LINK-USD | −0.014% | +0.0100% | 1h | $74K | $44K | 10x | as long as short |
| Orderly PERP_LINK_USDC | −0.014% | +0.0098% | 8h | $186K | $1.6M | 20x | as long as short |
| Variational Omni LINK | −0.007% | −0.0048% | 8h | $3.2M | $1.2M | — | as long as short |
| Deribit LINK_USDC-PERPETUAL | −0.004% | 0.0000% | 1h | $700K | $82K | 50x | as long as short |
| Kraken Futures PF_LINKUSD | 0.000% | −0.0173% | 1h | $6.1M | $6.7M | 50x | as long as short |
| GMX LINK/USD [LINK-USDC]long | 0.000% | L −0.0087% / S +0.0158% | 1h | $1.7M | — | 200x | |
| gTrade (Gains Network) LINK/USD | +0.006% | L +0.0004% / S −0.0007% | 1h | $177K | — | 150x | as long as short |
| Pacifica LINK | +0.039% | +0.0100% | 1h | $273K | $168K | 10x | as long as short |
| dYdX LINK-USD | +0.055% | 0.0000% | 1h | $345K | $60K | 10x | as long as short |
| BloFin LINK-USDT | +0.055% | +0.0158% | 8h | $5.3M | $12.7M | 75x | as long as short |
| Aster LINKUSDT | +0.056% | +0.0100% | 8h | $1.5M | $2.2M | 50x | as long as short |
| Hyperliquid LINK | +0.063% | +0.0100% | 1h | $79.0M | $20.5M | 10x | as long as short |
| SunX LINK-USDT | +0.073% | +0.0100% | 8h | $34K | $1.6M | 30x | as long as short |
| Arcus LINK-USD | +0.086% | +0.0100% | 1h | $184K | $193K | 10x | as long as short |
| Backpack LINK_USDC_PERP | +0.086% | +0.0100% | 1h | $387K | $368K | 15x | as long as short |
| Phemex LINKUSDT | +0.101% | +0.0338% | 8h | $20.3M | $11.3M | 50x | as long as short |
| Kalshi KXLINKPERP | +0.102% | 0.0000% | 8h | $460K | $2.2M | 3.7x | as long as short |
| Coinbase International LINK-PERP-INTX | +0.132% | +0.0088% | 1h | $1.0M | $2.7M | 50x | as long as short |