Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.010%

Price spread now: Gate against SunX−0.191%7-day average −0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$700.700% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now −0.191%, 7d avg −0.109%

Together, before fees−0.134%−$13 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 0.082% cheaper against SunX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.109%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	13.007	0.0100	pay 0.0100% / 8h	5h 40m	$33K	$1.5M	30x
Short	Gate LINK_USDT	12.982	0.0100	get 0.0100% / 8h	5h 40m	$128.3M	$12.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SunX. 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 SunXbpFee GatebpOrdersPrice spread, now −0.191%Rate

Funding earned: $0
Price spread: −0.191% → −0.109%: −$8.21
Slippage, 4 orders: −$47.05
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$78.26
Costs to cover: 0.700%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; Gate: live order book, 4 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 SunX live order book, 5 min ago	13.66 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.15 bp	15.3 bp −$15	22.3 bp −$223	40.1 bp −$4,015	82.6 bp −$41.3K

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]	L −0.0090% / S +0.0167%	1h	12.982	−0.193%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.989	−0.138%	$480K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.984	−0.174%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.666%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.977	−0.230%	$937K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	12.981	−0.199%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.984	−0.175%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.983	−0.185%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.991	−0.125%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.989	−0.134%	$395K	$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	12.989	−0.138%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.987	−0.155%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.983	−0.182%	$119.7M	$296.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.980	−0.207%	$83.9M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.982	−0.191%	$27.4M	$82.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.003	−0.030%	$182K	$165K	10x	as long as short
Gate LINK_USDTshort	+0.0100%	8h	12.982	−0.191%	$128.3M	$12.7M	75x
MEXC LINK_USDT	+0.0100%	8h	12.981	−0.199%	$32.0M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.990	−0.130%	$23.0M	$13.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.979	−0.215%	$54.0M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.983	−0.184%	—	$22.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.276%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.006	−0.008%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.011	+0.028%	$583K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.011	+0.032%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.994	−0.099%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.983	−0.184%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	13.007	long leg	$33K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	12.984	−0.176%	$14K	$49K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.968	−0.296%	$640K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.979	−0.216%	$692K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.986	−0.159%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0105%	1h	12.988	−0.145%	$339K	$378K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0151%	1h	12.989	−0.141%	$771K	$193K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.979	−0.215%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	12.984	−0.173%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0408%	1h	12.983	−0.184%	$344K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0555%	1h	12.984	−0.173%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0615%	8h	13.001	−0.045%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0676%	1h	12.999	−0.061%	$81.2M	$27.1M	10x	as long as short