Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h +0.085%

Price spread now: Reya against Bybit−0.202%56s7-day average — · you buy dearer than you sell

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

Long on Bybit 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 0.202% cheaper against Bybit than usual: you would sell low and buy high (spread −0.202% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 2.4 days of funding at the current rate (+$8 a day). The two prices were read 56 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	Bybit LINKUSDT	13.175	0.0100	pay 0.0100% / 8h	1h 22m	$85.1M	$70.4M	75x
Short	Reya LINKRUSDPERP	13.148	0.0376	get 0.0047% / 1h	22m 30s	$5K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bybit. 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 BybitbpFee ReyabpOrdersPrice spread, now −0.202%Rate

Funding earned: $57.97
Price spread: −0.202% → 0.000%: −$20.18
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Reya: 3 bp × 2 orders: −$6
Net: $20.79
Costs to cover: 0.170%
Break-even: 4.5 days

Slippage unknown: Bybit: live order book, 1 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 Bybit live order book, 1 min ago	0.38 bp	7.7 bp −$8	12.6 bp −$126	34.5 bp −$3,447	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 −0.0090% / S +0.0167%	1h	13.155	−0.154%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.172	−0.022%	$349K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.152	−0.172%	$460K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.159	−0.124%	$719K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.155	−0.152%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.882%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.138	−0.279%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.150	−0.190%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.171	−0.030%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.172	−0.022%	$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	13.150	−0.190%	$402K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.181	+0.046%	$77.7M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.170	−0.037%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.171	−0.030%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.176	+0.011%	$122.3M	$303.1M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	13.175	long leg	$85.1M	$70.4M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.176	+0.008%	$27.7M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.188	+0.099%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.169	−0.046%	$130.6M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.173	−0.015%	$36.6M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.172	−0.023%	$22.5M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.177	+0.015%	$54.9M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.178	+0.023%	—	$21.5M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.119	−0.426%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.123	−0.394%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.134	−0.309%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.133	−0.319%	$153K	$670K	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	13.150	−0.192%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.166	−0.067%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.153	−0.167%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.121	−0.408%	$645K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.176	+0.008%	$675K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.157	−0.139%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.146	−0.220%	$991K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0204%	1h	13.166	−0.068%	$365K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.150	−0.190%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERPshort	+0.0376%	1h	13.148	−0.202%	$5K	—	20x
Phemex LINKUSDT	+0.0474%	8h	13.168	−0.053%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0695%	1h	13.158	−0.131%	$7.0M	$8.1M	50x	as long as short