LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0083%/8h= +9.1% APRnext payment +$0.10 per $10,000 · paid last 24h +0.072%

Price spread now: Reya against Backpack−0.124%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.124% cheaper against Backpack than usual: you would sell low and buy high (spread −0.124% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 4.9 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LINK_USDC_PERP	13.174	0.0295	pay 0.0037% / 1h	34m 35s	$364K	$379K	15x
Short	Reya LINKRUSDPERP	13.158	0.0378	get 0.0047% / 1h	34m 35s	$5K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Backpack. 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 BackpackbpFee ReyabpOrdersPrice spread, now −0.124%Rate

Funding earned: $17.53
Price spread: −0.124% → 0.000%: −$12.39
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$10.85
Costs to cover: 0.160%
Break-even: 11.3 days

Slippage unknown: Backpack: live order book, 44 min ago; Reya: 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 Backpack live order book, 44 min ago	0.38 bp	6.9 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 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	13.174	+0.001%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.182	+0.059%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.169	−0.037%	$727K	$133K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.168	−0.046%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.204	+0.228%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.875%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.163	−0.083%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.166	−0.057%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.164	−0.078%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.163	−0.083%	$401K	$312K	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	13.171	−0.023%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.169	−0.040%	$277K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.160	−0.106%	$122.5M	$304.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.158	−0.121%	$84.8M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.162	−0.091%	$27.8M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.182	+0.061%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.165	−0.068%	$130.4M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.167	−0.053%	$36.6M	$57.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.171	−0.023%	$22.8M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.160	−0.106%	$54.7M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.166	−0.061%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.182	+0.061%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.190	+0.118%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.185	+0.084%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.195	+0.159%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.164	−0.076%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.163	−0.084%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.186	+0.094%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.164	−0.076%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.165	−0.072%	$648K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.159	−0.112%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.167	−0.053%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.165	−0.068%	$996K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.158	−0.121%	$5.3M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0273%	1h	13.181	+0.053%	$78.0M	$24.0M	10x	as long as short
Backpack LINK_USDC_PERPlong	+0.0295%	1h	13.174	long leg	$364K	$379K	15x
Reya LINKRUSDPERPshort	+0.0378%	1h	13.158	−0.124%	$5K	—	20x
Kraken Futures PF_LINKUSD	+0.0477%	1h	13.173	−0.011%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0480%	8h	13.185	+0.083%	$20.4M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0585%	1h	13.168	−0.048%	$349K	$48K	10x	as long as short