Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.015%

Price spread now: Variational Omni against ApeX Omni−0.130%7-day average −0.068% · you buy dearer than you sell

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.039%−$4 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now −0.130%, 7d avg −0.068%

Together, before fees+0.029%+ Points / potential airdropVariational Omni: Active · farm board+$3 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 0.062% cheaper against ApeX Omni than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni LINKUSDT	12.923	0.0100	pay 0.0013% / 1h	59m 05s	$132K	$670K	50x
Short	Variational Omni LINK	12.906	0.0100	get 0.0100% / 8h	59m 05s	$3.3M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX Omni. 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now −0.130%Rate

Funding earned: $0
Price spread: −0.130% → −0.068%: −$6.18
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$16.18
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 44 min ago; Variational Omni: RFQ quote, 5 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 ApeX Omni live order book, 44 min ago	6.98 bp	15.1 bp −$15	68.0 bp −$680	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	3.13 bp	doesn't fit	6.6 bp −$66	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 −0.0087% / S +0.0165%	1h	12.919	−0.031%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0045%	8h	12.911	−0.093%	$92K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.926	+0.026%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.921	−0.015%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.047%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.923	−0.002%	$3K	$84K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.920	−0.026%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.913	−0.078%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.914	−0.070%	$354K	$339K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.922	−0.008%	$80.9M	$28.0M	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	12.918	−0.041%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.921	−0.015%	$275K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.913	−0.078%	$119.3M	$299.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.905	−0.139%	$83.4M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.908	−0.116%	$27.1M	$79.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.935	+0.093%	$181K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.919	−0.031%	$134.6M	$17.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.917	−0.046%	$34.0M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.918	−0.039%	$22.9M	$12.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.909	−0.108%	$53.9M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.916	−0.054%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.922	−0.008%	$336K	$384K	15x	as long as short
Variational Omni LINKshort	+0.0100%	8h	12.906	−0.130%	$3.3M	$1.9M	—
edgeX LINKUSDC	+0.0100%	4h	12.917	−0.047%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.915	−0.059%	$581K	$3.0M	10x	as long as short
ApeX Omni LINKUSDTlong	+0.0100%	1h	12.923	long leg	$132K	$670K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.918	−0.039%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.933	+0.076%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.934	+0.085%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.920	−0.023%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.908	−0.115%	$631K	$782K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.921	−0.014%	$6.5M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.913	−0.074%	$634K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.921	−0.012%	$542K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0129%	1h	12.927	+0.028%	$808K	$268K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.929	+0.046%	$931K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.919	−0.031%	$5.3M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0399%	1h	12.913	−0.078%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0548%	8h	12.936	+0.101%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0584%	1h	12.918	−0.042%	$344K	$45K	10x	as long as short