Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0190%/8h= +20.8% APRpaid last 24h +0.047%

Price spread now: HTX against GMX−0.117%7-day average −0.105% · you buy dearer than you sell

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

Long on GMX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.181%+$18 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now −0.117%, 7d avg −0.105%

Together, before fees+0.125%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.105%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	13.029	L −0.0090% / S +0.0167%	get 0.0011% / 1h	30m 25s	$1.8M	—	200x
Short	HTX LINK-USDT	13.014	0.0100	get 0.0100% / 8h	5h 30m	$642K	$688K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.117%Rate

Funding earned: $39.95
Price spread: −0.117% → −0.105%: −$1.19
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: $14.76
Costs to cover: 0.240%
Break-even: 4.4 days

Slippage unknown: GMX: no order-book sample; HTX: live order book, 33 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 HTX live order book, 33 min ago	23.83 bp	30.4 bp −$30	197.0 bp −$1,970	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	13.029	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.036	+0.050%	$482K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.030	+0.009%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.828%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.045	+0.123%	$940K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0065%	8h	13.029	0.000%	$118K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.034	+0.035%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.016	−0.099%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.034	+0.041%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.034	+0.034%	$396K	$315K	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	13.039	+0.080%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.035	+0.050%	$275K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.031	+0.017%	$120.1M	$295.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.030	+0.008%	$84.2M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.028	−0.008%	$27.5M	$82.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.048	+0.146%	$183K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.035	+0.046%	$128.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.029	0.000%	$32.1M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.039	+0.077%	$23.1M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.029	0.000%	$54.2M	$30.0M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.032	+0.023%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.047	+0.138%	$343K	$382K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.029	−0.001%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.018	−0.087%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.023	−0.045%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.005	−0.184%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.034	+0.038%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.031	+0.011%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.045	+0.123%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.038	+0.069%	$14K	$57K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	13.014	−0.117%	$642K	$688K	75x
Extended LINK-USD	+0.0104%	1h	13.029	−0.002%	$653K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.033	+0.033%	$547K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.027	−0.015%	$5.2M	$15.8M	75x	as long as short
dYdX LINK-USD	+0.0329%	1h	13.037	+0.063%	$345K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0387%	1h	13.026	−0.025%	$4K	—	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0464%	1h	13.038	+0.072%	$774K	$183K	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0552%	1h	13.041	+0.091%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0596%	8h	13.045	+0.123%	$20.1M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0650%	1h	13.046	+0.130%	$81.9M	$27.1M	10x	as long as short