Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0265%/8h= −29.0% APRpaid last 24h −0.067%

Price spread now: GMX against OKX+0.007%7-day average +0.032% · you sell dearer than you buy

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.263%−$26 on $10k

Price spread, last 4 days (all we have)+0.133%+$13 · spread now +0.007%, 7d avg +0.032%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and GMX is 0.025% cheaper against OKX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LINK-USDT-SWAP	12.971	0.0100	pay 0.0100% / 8h	5h 56m	$27.4M	$74.1M	50x
Short	GMX LINK/USD [LINK-USDC]	12.972	L −0.0087% / S +0.0165%	pay 0.0021% / 1h	56m 10s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$55.7
Price spread: +0.007% → +0.032%: −$2.51
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$80.21
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 6 min ago; GMX: no order-book sample. 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 OKX live order book, 6 min ago	0.38 bp	6.1 bp −$6	12.5 bp −$125	30.5 bp −$3,051	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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 39 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	−0.0191%	8h	12.962	−0.069%	$85K	$876K	20x	as long as short
GMX LINK/USD [LINK-USDC]short	L −0.0087% / S +0.0165%	1h	12.972	+0.007%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.988	+0.134%	$489K	$2.1M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.986	+0.119%	$115K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.010	+0.298%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.402%	$4K	$48K	12x	as long as short
HTX LINK-USDT	+0.0087%	8h	12.965	−0.049%	$608K	$677K	75x	as long as short
Lighter LINK	+0.0096%	1h	12.972	+0.011%	$1.9M	$2.3M	10x	as long as short
Variational Omni LINK	+0.0097%	8h	12.977	+0.050%	$3.4M	$1.8M	—	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.977	+0.050%	$31K	$600	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.976	+0.042%	$349K	$279K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.984	+0.100%	$81.7M	$25.4M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.979	+0.059%	$1.4M	$2.5M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.986	+0.114%	$275K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.970	−0.008%	$120.3M	$268.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.968	−0.023%	$83.9M	$66.7M	75x	as long as short
OKX LINK-USDT-SWAPlong	+0.0100%	8h	12.971	long leg	$27.4M	$74.1M	50x
Arcus LINK-USD	+0.0100%	1h	12.997	+0.200%	$183K	$83K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.972	+0.008%	$134.1M	$17.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.970	−0.008%	$35.6M	$54.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.976	+0.039%	$22.9M	$11.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.976	+0.039%	$54.3M	$26.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.973	+0.015%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.978	+0.054%	$335K	$352K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.982	+0.082%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.996	+0.192%	$583K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.998	+0.208%	$132K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.980	+0.069%	$83K	$64K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.999	+0.217%	$34K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.971	0.000%	$11K	$61K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	12.965	−0.045%	$628K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.972	+0.004%	$544K	$2K	3x	as long as short
Kraken Futures PF_LINKUSD	+0.0173%	1h	12.974	+0.022%	$6.5M	$7.4M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0200%	1h	13.000	+0.224%	$977K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.987	+0.123%	$5.4M	$15.3M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0267%	1h	12.978	+0.056%	$889K	$355K	50x	as long as short
Reya LINKRUSDPERP	+0.0407%	1h	12.967	−0.031%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0434%	8h	12.987	+0.123%	$20.1M	$10.2M	50x	as long as short
dYdX LINK-USD	+0.0612%	1h	12.993	+0.169%	$349K	$46K	10x	as long as short