Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h −0.020%

Price spread now: Variational Omni against Arcus−0.312%7-day average −0.061% · you buy dearer than you sell

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

Long on Arcus Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.038%−$4 on $10k

Price spread, last 4 days (all we have)+0.629%+$63 · spread now −0.312%, 7d avg −0.061%

Together, before fees+0.590%+ Points / potential airdropVariational Omni: Active · farm board+$59 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Variational Omni is 0.252% cheaper against Arcus than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.061%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus LINK-USD	13.205	0.0100	pay 0.0013% / 1h	17m 28s	$185K	$172K	10x
Short	Variational Omni LINK	13.164	0.0087	get 0.0087% / 8h	2h 17m	$3.3M	$1.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Arcus. 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 ArcusbpFee Variational OmnibpOrdersPrice spread, now −0.312%Rate

Funding earned: −$2.63
Price spread: −0.312% → −0.061%: −$25.17
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$32.3
Costs to cover: 0.045%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 6 min ago; Variational Omni: RFQ quote, 2 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 Arcus live order book, 6 min ago	11.01 bp	16.0 bp −$16	32.5 bp −$325	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	3.12 bp	doesn't fit	11.2 bp −$112	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 −0.0092% / S +0.0166%	1h	13.196	−0.067%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.191	−0.103%	$493K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.185	−0.152%	$717K	$122K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.196	−0.066%	$134K	—	150x	as long as short
dYdX LINK-USD	+0.0017%	1h	13.194	−0.085%	$349K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.185	−0.154%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.096%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0042%	8h	13.189	−0.121%	$135K	$1.6M	20x	as long as short
Variational Omni LINKshort	+0.0087%	8h	13.164	−0.312%	$3.3M	$1.5M	—
Lighter LINK	+0.0096%	1h	13.196	−0.066%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.192	−0.101%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.192	−0.098%	$401K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.210	+0.038%	$78.1M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.199	−0.045%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.192	−0.099%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.196	−0.068%	$122.3M	$301.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.194	−0.083%	$85.0M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.194	−0.083%	$27.9M	$85.7M	50x	as long as short
Arcus LINK-USDlong	+0.0100%	1h	13.205	long leg	$185K	$172K	10x
Gate LINK_USDT	+0.0100%	8h	13.195	−0.076%	$131.0M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.195	−0.076%	$37.5M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.196	−0.068%	$22.1M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.192	−0.098%	$54.6M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.195	−0.076%	—	$21.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.167	−0.287%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.164	−0.310%	$594K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.168	−0.280%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.198	−0.053%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.176	−0.219%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.196	−0.069%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.179	−0.197%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.157	−0.363%	$646K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.192	−0.095%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.182	−0.171%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.181	−0.182%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.186	−0.144%	$365K	$372K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.164	−0.310%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.193	−0.087%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0462%	8h	13.189	−0.121%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	13.189	−0.119%	$7.0M	$7.8M	50x	as long as short