Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: Gate against KuCoin+0.023%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$520.518% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 7 days−0.020%−$2 · spread now +0.023%, 7d avg −0.003%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.026% dearer against KuCoin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	12.906	0.0100	pay 0.0100% / 8h	4h 47m	$23.1M	$11.7M	75x
Short	Gate LINK_USDT	12.909	0.0100	get 0.0100% / 8h	4h 47m	$133.1M	$17.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → −0.003%: $2.62
Slippage, 4 orders: −$24.84
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$49.22
Costs to cover: 0.518%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Gate: live order book, 5 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 KuCoin live order book, 4 min ago	1.16 bp	15.5 bp −$15	25.4 bp −$254	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.78 bp	12.9 bp −$13	20.6 bp −$206	33.5 bp −$3,345	76.2 bp −$38.1K

LINK on 40 exchanges

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
Orderly PERP_LINK_USDC	−0.0250%	8h	12.891	−0.116%	$84K	$773K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.891	−0.113%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.886	−0.157%	$478K	$2.0M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.893	−0.103%	$114K	—	150x	as long as short
Phoenix LINK	+0.0025%	1h	12.891	−0.116%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.921%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0067%	8h	12.873	−0.255%	$3.3M	$1.7M	—	as long as short
Lighter LINK	+0.0096%	1h	12.904	−0.019%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	12.908	+0.018%	$31K	$600	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.876	−0.232%	$345K	$273K	10x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.902	−0.031%	$81.2M	$25.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.920	+0.108%	$1.2M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.902	−0.028%	$274K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.918	+0.093%	$120.1M	$264.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.910	+0.031%	$83.9M	$66.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.912	+0.046%	$27.4M	$72.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.927	+0.163%	$181K	$84K	10x	as long as short
Gate LINK_USDTshort	+0.0100%	8h	12.909	+0.023%	$133.1M	$17.1M	75x
MEXC LINK_USDT	+0.0100%	8h	12.907	+0.008%	$35.9M	$53.0M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	12.906	long leg	$23.1M	$11.7M	75x
Bitget LINKUSDT	+0.0100%	8h	12.907	+0.008%	$54.0M	$25.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.910	+0.031%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.904	−0.015%	$324K	$351K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.866	−0.307%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.858	−0.370%	$578K	$3.2M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.868	−0.294%	$104K	$686K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.886	−0.155%	$82K	$57K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.896	−0.081%	$16K	$18K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.906	+0.001%	$33K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.898	−0.062%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.875	−0.243%	$611K	$700K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.906	+0.001%	$622K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.908	+0.013%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.862	−0.341%	$980K	$3.0M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0215%	1h	12.900	−0.043%	$6.6M	$7.5M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.846	−0.465%	$5.4M	$15.0M	75x	as long as short
Phemex LINKUSDT	+0.0393%	8h	12.912	+0.046%	$20.0M	$10.1M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0394%	1h	12.906	+0.004%	$895K	$369K	50x	as long as short
Reya LINKRUSDPERP	+0.0411%	1h	12.879	−0.211%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0949%	1h	12.900	−0.048%	$347K	$20K	10x	as long as short