Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: Variational Omni against BingX+0.205%7-day average −0.002% · you sell dearer than you buy

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

Long on BingX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.032%−$3 on $10k

Price spread, last 7 days−0.216%−$22 · spread now +0.205%, 7d avg −0.002%

Together, before fees−0.248%+ Points / potential airdropVariational Omni: Active · farm board−$25 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 0.207% dearer against BingX than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDT	13.178	0.0100	pay 0.0100% / 8h	1h 39m	—	$21.6M	—
Short	Variational Omni LINK	13.205	0.0100	get 0.0100% / 8h	1h 39m	$3.3M	$1.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against BingX. 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 BingXbpFee Variational OmnibpOrdersPrice spread, now +0.205%Rate

Funding earned: $0
Price spread: +0.205% → −0.002%: $20.66
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $10.66
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 14 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 BingX live order book, 14 min ago	1.14 bp	6.1 bp −$6	7.1 bp −$71	17.2 bp −$1,718	42.6 bp −$21.3K
Sell Variational Omni RFQ quote, 5 min ago	3.11 bp	doesn't fit	11.0 bp −$110	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 −0.0090% / S +0.0167%	1h	13.178	+0.003%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.189	+0.084%	$349K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.190	+0.090%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.178	+0.002%	$719K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.180	+0.016%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.904%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.208	+0.231%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.175	−0.023%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.186	+0.063%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.182	+0.033%	$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	13.179	+0.008%	$400K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.188	+0.079%	$77.8M	$23.7M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.183	+0.038%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.188	+0.079%	$276K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.176	−0.015%	$122.3M	$302.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.177	−0.008%	$84.9M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.180	+0.015%	$27.7M	$85.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.199	+0.159%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.180	+0.015%	$130.9M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.179	+0.008%	$36.7M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.182	+0.030%	$22.3M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.175	−0.023%	$54.8M	$30.3M	75x	as long as short
BingX LINK-USDTlong	+0.0100%	8h	13.178	long leg	—	$21.6M	—
Variational Omni LINKshort	+0.0100%	8h	13.205	+0.205%	$3.3M	$1.5M	—
edgeX LINKUSDC	+0.0100%	4h	13.200	+0.166%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.198	+0.153%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.206	+0.212%	$154K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.182	+0.030%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.173	−0.037%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.195	+0.131%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.177	−0.008%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.175	−0.021%	$648K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.173	−0.036%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.178	0.000%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.202	+0.182%	$995K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0180%	1h	13.186	+0.061%	$365K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.183	+0.038%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.180	+0.013%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0456%	8h	13.192	+0.106%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0693%	1h	13.185	+0.056%	$6.9M	$8.0M	50x	as long as short