Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0275%/8h= +30.1% APRpaid last 24h +0.078%

Price spread now: Reya against Binance+0.073%45s7-day average — · you sell dearer than you buy

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

Long on Binance 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

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Reya is 0.073% dearer against Binance than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LINKUSDT	13.139	0.0100	pay 0.0100% / 8h	1h 52m	$121.8M	$302.4M	75x
Short	Reya LINKRUSDPERP	13.149	0.0375	get 0.0047% / 1h	52m 42s	$5K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Binance. 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 BinancebpFee ReyabpOrdersPrice spread, now +0.073%Rate

Funding earned: $57.68
Price spread: +0.073% → 0.000%: $7.34
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $49.02
Costs to cover: 0.160%
Break-even: 1.1 days

Slippage unknown: Binance: live order book, 6 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 Binance live order book, 6 min ago	0.38 bp	6.1 bp −$6	10.7 bp −$107	32.4 bp −$3,239	118.5 bp −$59.3K
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 −0.0090% / S +0.0167%	1h	13.147	+0.060%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.141	+0.014%	$348K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.162	+0.175%	$471K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.147	+0.058%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.149	+0.076%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.624%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.174	+0.268%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.145	+0.046%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.144	+0.041%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.159	+0.150%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.161	+0.164%	$400K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.141	+0.015%	$77.5M	$23.8M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.131	−0.061%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.139	−0.003%	$275K	$151K	10x	as long as short
Binance LINKUSDTlong	+0.0100%	8h	13.139	long leg	$121.8M	$302.4M	75x
Bybit LINKUSDT	+0.0100%	8h	13.137	−0.015%	$84.6M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.139	0.000%	$27.6M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.171	+0.244%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.125	−0.107%	$130.3M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.124	−0.114%	$36.5M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.126	−0.099%	$22.2M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.134	−0.038%	$54.5M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.123	−0.122%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.148	+0.071%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.165	+0.198%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.173	+0.259%	$590K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.174	+0.266%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.157	+0.137%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.141	+0.018%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.165	+0.196%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.145	+0.046%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.146	+0.057%	$646K	$903K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.118	−0.161%	$675K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.149	+0.073%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.154	+0.114%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0173%	1h	13.146	+0.053%	$366K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.140	+0.008%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERPshort	+0.0375%	1h	13.149	+0.073%	$5K	—	20x
Phemex LINKUSDT	+0.0474%	8h	13.161	+0.167%	$20.4M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0695%	1h	13.153	+0.104%	$6.9M	$8.0M	50x	as long as short