Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0091%/8h= −10.0% APRpaid last 24h −0.020%

Price spread now: gTrade (Gains Network) against OKX−0.040%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$305as in the Price arb table

costs, in and out, $10k−$2992.988% of the position

Long on OKX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.083%−$8 on $10k

Price spread, last 3 days (all we have)+0.103%+$10 · spread now −0.040%, 7d avg +0.024%

Together, before fees+0.020%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.064% cheaper against OKX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.024%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LINK-USDT-SWAP	12.995	0.0100	pay 0.0100% / 8h	5h 53m	$27.4M	$82.3M	50x
Short	gTrade (Gains Network) LINK/USD	12.990	L +0.0004% / S −0.0009%	get 0.0001% / 1h	53m 48s	$159K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against OKX. 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 OKXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.040%Rate

Funding earned: −$19.08
Price spread: −0.040% → +0.024%: −$6.38
Slippage, 4 orders: −$278.78
Fee OKX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$324.24
Costs to cover: 2.988%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; gTrade (Gains Network): virtual book (oracle venue), 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 OKX live order book, 5 min ago	0.38 bp	6.9 bp −$7	16.6 bp −$166	36.0 bp −$3,602	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 5 min ago	130.06 bp	142.5 bp −$143	1049.2 bp −$10.5K	doesn't fit	doesn't fit

LINK on 39 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]	L −0.0090% / S +0.0167%	1h	12.988	−0.053%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.999	+0.032%	$468K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0004% / S −0.0009%	1h	12.990	−0.040%	$159K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.579%	$4K	$48K	12x	as long as short
ApeX Omni LINKUSDT	+0.0039%	1h	12.976	−0.146%	$133K	$672K	50x	as long as short
Phoenix LINK	+0.0049%	1h	13.039	+0.341%	$3K	$84K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.010	+0.115%	$953K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.996	+0.008%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.998	+0.023%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.990	−0.035%	$31K	$2K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.990	−0.038%	$395K	$316K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.992	−0.022%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.992	−0.023%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.998	+0.023%	$119.6M	$296.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.993	−0.015%	$84.1M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAPlong	+0.0100%	8h	12.995	long leg	$27.4M	$82.3M	50x
Arcus LINK-USD	+0.0100%	1h	13.007	+0.092%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.989	−0.046%	$128.2M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.993	−0.015%	$32.1M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.992	−0.023%	$23.0M	$13.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.992	−0.023%	$54.0M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.994	−0.008%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.995	0.000%	$339K	$378K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.034	+0.303%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.981	−0.105%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.973	−0.168%	$586K	$2.6M	10x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.993	−0.015%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.995	−0.001%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.003	+0.059%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.002	+0.054%	$5K	$46K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.987	−0.059%	$641K	$685K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.987	−0.064%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.004	+0.065%	$545K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0265%	1h	13.005	+0.076%	$772K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	12.984	−0.086%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0428%	1h	12.994	−0.010%	$344K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.005	+0.080%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0596%	8h	13.007	+0.092%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0654%	1h	13.014	+0.146%	$81.4M	$26.4M	10x	as long as short