Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0182%/8h= +19.9% APRpaid last 24h +0.050%

Price spread now: Reya against BloFin+0.060%46s7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 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 +$5 a day on $10k at the current rate, and Reya is 0.060% dearer against BloFin than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 46 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	BloFin LINK-USDT	12.887	0.0220	pay 0.0220% / 8h	7h 58m	$5.2M	$15.8M	75x
Short	Reya LINKRUSDPERP	12.895	0.0402	get 0.0050% / 1h	58m 24s	$4K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against BloFin. 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 BloFinbpFee ReyabpOrdersPrice spread, now +0.060%Rate

Funding earned: $38.19
Price spread: +0.060% → 0.000%: $6.03
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $26.23
Costs to cover: 0.180%
Break-even: 2.2 days

Slippage unknown: BloFin: live order book, 10 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 BloFin live order book, 10 min ago	0.77 bp	7.8 bp −$8	11.4 bp −$114	26.9 bp −$2,691	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
Orderly PERP_LINK_USDC	−0.0100%	8h	12.897	+0.078%	$90K	$1.0M	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.901	+0.108%	$1.7M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	12.900	+0.102%	$344K	$45K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.900	+0.099%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.902	+0.116%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.779%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.890	+0.023%	$6.4M	$8.4M	50x	as long as short
Phoenix LINK	+0.0074%	1h	12.894	+0.057%	$3K	$84K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.903	+0.124%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.905	+0.140%	$31K	$2K	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	12.896	+0.066%	$348K	$336K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.904	+0.128%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.904	+0.132%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.905	+0.140%	$119.3M	$298.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.899	+0.093%	$83.6M	$73.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.903	+0.124%	$27.1M	$80.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.921	+0.264%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.899	+0.093%	$133.9M	$17.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.895	+0.062%	$34.8M	$57.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.901	+0.109%	$22.9M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.900	+0.101%	$53.9M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.900	+0.101%	—	$23.2M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.879	−0.064%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.882	−0.038%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.887	+0.002%	$578K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.881	−0.047%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.905	+0.140%	$82K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.886	−0.011%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.905	+0.140%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.888	+0.008%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.889	+0.016%	$630K	$750K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.901	+0.110%	$618K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.911	+0.182%	$541K	$2K	3x	as long as short
Hyperliquid LINK	+0.0123%	1h	12.908	+0.163%	$80.5M	$27.9M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0130%	1h	12.899	+0.093%	$335K	$385K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.897	+0.078%	$931K	$3.0M	50x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	12.887	long leg	$5.2M	$15.8M	75x
Reya LINKRUSDPERPshort	+0.0402%	1h	12.895	+0.060%	$4K	—	20x
Deribit LINK_USDC-PERPETUAL	+0.0456%	1h	12.897	+0.077%	$807K	$268K	50x	as long as short
Phemex LINKUSDT	+0.0548%	8h	12.907	+0.155%	$19.9M	$11.4M	50x	as long as short