Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.016%

Price spread now: Variational Omni against Aevo−0.051%7-day average −0.031% · you buy dearer than you sell

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

Long on Aevo Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.035%−$4 on $10k

Price spread, last 3 days (all we have)−0.058%−$6 · spread now −0.051%, 7d avg −0.031%

Together, before fees−0.093%+ Points / potential airdropVariational Omni: Active · farm board−$9 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: Variational Omni is 0.020% cheaper against Aevo than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo LINK-PERP	13.164	0.0104	pay 0.0013% / 1h	21m 09s	$552K	$2K	3x
Short	Variational Omni LINK	13.157	0.0100	get 0.0100% / 8h	7h 21m	$3.4M	$1.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 AevobpFee Variational OmnibpOrdersPrice spread, now −0.051%Rate

Funding earned: −$0.84
Price spread: −0.051% → −0.031%: −$2.04
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$18.88
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 53 min ago; Variational Omni: RFQ quote, 3 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 Aevo live order book, 53 min ago	20.97 bp	30.8 bp −$31	164.3 bp −$1,643	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	3.11 bp	doesn't fit	10.2 bp −$102	doesn't fit	doesn't fit

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 −0.0091% / S +0.0167%	1h	13.162	−0.019%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.166	+0.015%	$475K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.161	−0.022%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.804%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.193	+0.220%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	13.160	−0.031%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.163	−0.008%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.215	+0.386%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.156	−0.061%	$404K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.159	−0.035%	$1.4M	$3.0M	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	13.156	−0.060%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.159	−0.036%	$122.3M	$301.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.156	−0.061%	$84.8M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.156	−0.061%	$27.6M	$84.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.174	+0.075%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.158	−0.046%	$130.3M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.157	−0.054%	$36.9M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.167	+0.022%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.156	−0.061%	$54.8M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.158	−0.046%	—	$20.9M	—	as long as short
Variational Omni LINKshort	+0.0100%	8h	13.157	−0.051%	$3.4M	$1.5M	—
edgeX LINKUSDC	+0.0100%	4h	13.172	+0.058%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.202	+0.288%	$601K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.176	+0.091%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.162	−0.016%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.160	−0.032%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.176	+0.089%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.163	−0.008%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.145	−0.143%	$647K	$850K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.159	−0.039%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERPlong	+0.0104%	1h	13.164	long leg	$552K	$2K	3x
Deribit LINK_USDC-PERPETUAL	+0.0115%	1h	13.169	+0.041%	$782K	$211K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.162	−0.016%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0181%	1h	13.169	+0.037%	$366K	$365K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.165	+0.007%	$5.2M	$15.9M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.172	+0.063%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.158	−0.045%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0439%	1h	13.153	−0.081%	$348K	$48K	10x	as long as short
Hyperliquid LINK	+0.0563%	1h	13.175	+0.083%	$81.4M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0635%	8h	13.179	+0.113%	$20.4M	$11.6M	50x	as long as short