Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0189%/8h= +20.6% APRpaid last 24h +0.049%

Price spread now: KuCoin against GMX−0.030%7-day average −0.026% · you buy dearer than you sell

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.167%+$17 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now −0.030%, 7d avg −0.026%

Together, before fees+0.105%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, 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]	12.942	L −0.0089% / S +0.0166%	get 0.0011% / 1h	49m 52s	$1.8M	—	200x
Short	KuCoin LINKUSDTM	12.938	0.0100	get 0.0100% / 8h	2h 49m	$22.7M	$13.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.030%Rate

Funding earned: $39.59
Price spread: −0.030% → −0.026%: −$0.43
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $15.16
Costs to cover: 0.240%
Break-even: 4.3 days

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	1.94 bp	14.3 bp −$14	21.9 bp −$219	63.1 bp −$6,310	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 −0.0089% / S +0.0166%	1h	12.942	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.949	+0.058%	$516K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.942	−0.001%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.187%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0055%	8h	12.934	−0.061%	$116K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.926	−0.122%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.933	−0.070%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.946	+0.032%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.944	+0.012%	$343K	$339K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.942	0.000%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.945	+0.024%	$276K	$185K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.940	−0.015%	$119.7M	$301.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.936	−0.045%	$83.4M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.938	−0.030%	$27.4M	$80.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.959	+0.132%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.933	−0.069%	$124.5M	$14.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.938	−0.030%	$33.2M	$56.5M	300x	as long as short
KuCoin LINKUSDTMshort	+0.0100%	8h	12.938	−0.030%	$22.7M	$13.0M	75x
Bitget LINKUSDT	+0.0100%	8h	12.938	−0.030%	$54.3M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.938	−0.030%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.939	−0.022%	$339K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.930	−0.090%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.906	−0.279%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.915	−0.205%	$586K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.909	−0.254%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.951	+0.070%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.935	−0.053%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.961	+0.145%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.932	−0.076%	$10K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.933	−0.069%	$635K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.934	−0.061%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.940	−0.015%	$543K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.952	+0.078%	$920K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0198%	1h	12.945	+0.026%	$791K	$218K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.939	−0.022%	$5.2M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0277%	1h	12.934	−0.060%	$6.6M	$8.2M	50x	as long as short
Hyperliquid LINK	+0.0315%	1h	12.944	+0.016%	$80.8M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0394%	1h	12.943	+0.008%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0575%	8h	12.952	+0.078%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.1183%	1h	12.937	−0.035%	$344K	$32K	10x	as long as short