Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Variational Omni against Bybit−0.053%7-day average +0.005% · you buy dearer than you sell

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.011%−$1 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.053%, 7d avg +0.005%

Together, before fees+0.029%+ Points / potential airdropVariational Omni: Active · farm board+$3 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 0.058% cheaper against Bybit than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LINKUSDT	12.952	0.0100	pay 0.0100% / 8h	1h 08m	$83.7M	$73.4M	75x
Short	Variational Omni LINK	12.945	0.0100	get 0.0100% / 8h	1h 08m	$3.3M	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.053%Rate

Funding earned: $0
Price spread: −0.053% → +0.005%: −$5.78
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$16.78
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Variational Omni: RFQ quote, 1 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 Bybit live order book, 1 min ago	0.39 bp	6.7 bp −$7	11.8 bp −$118	36.1 bp −$3,610	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	3.13 bp	doesn't fit	9.6 bp −$96	doesn't fit	doesn't fit

LINK on 39 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 −0.0087% / S +0.0165%	1h	12.959	+0.057%	$1.8M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0033%	8h	12.950	−0.015%	$94K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.965	+0.100%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.958	+0.043%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.262%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.957	+0.040%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.958	+0.046%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.953	+0.011%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.950	−0.015%	$355K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.960	+0.064%	$1.3M	$2.4M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.955	+0.019%	$276K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.958	+0.047%	$119.6M	$299.7M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	12.952	long leg	$83.7M	$73.4M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	12.956	+0.031%	$27.1M	$80.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.962	+0.077%	$181K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.961	+0.069%	$134.2M	$17.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.959	+0.054%	$34.5M	$59.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.961	+0.069%	$23.0M	$12.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.953	+0.008%	$54.1M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.956	+0.031%	—	$6.6M	—	as long as short
Variational Omni LINKshort	+0.0100%	8h	12.945	−0.053%	$3.3M	$1.9M	—
edgeX LINKUSDC	+0.0100%	4h	12.952	+0.002%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.951	−0.005%	$584K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.956	+0.031%	$132K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.958	+0.046%	$81K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.972	+0.154%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.958	+0.046%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.902	−0.384%	$630K	$784K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.951	−0.009%	$634K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.961	+0.069%	$544K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0111%	1h	12.964	+0.093%	$337K	$387K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.960	+0.062%	$933K	$2.8M	50x	as long as short
Hyperliquid LINK	+0.0175%	1h	12.967	+0.116%	$81.1M	$27.9M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0192%	1h	12.960	+0.065%	$6.7M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.962	+0.077%	$5.2M	$15.9M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0244%	1h	12.966	+0.106%	$811K	$266K	50x	as long as short
Reya LINKRUSDPERP	+0.0399%	1h	12.951	−0.008%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0549%	8h	12.968	+0.124%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0572%	1h	12.953	+0.008%	$345K	$45K	10x	as long as short