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% APRpaid last 24h −0.020%

Price spread now: Variational Omni against edgeX−0.081%89s7-day average +0.003% · you buy dearer than you sell

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

Long on edgeX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.037%−$4 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now −0.081%, 7d avg +0.003%

Together, before fees−0.002%+ Points / potential airdropedgeX: Active · Variational Omni: Active · farm board$0 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 0.084% cheaper against edgeX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.003%. The two prices were read 89 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	edgeX LINKUSDC	13.204	0.0100	pay 0.0050% / 4h	1h 00m	$44K	$309K	20x
Short	Variational Omni LINK	13.194	0.0100	get 0.0100% / 8h	1h 00m	$3.3M	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpFee Variational OmnibpOrdersPrice spread, now −0.081%Rate

Funding earned: $0
Price spread: −0.081% → +0.003%: −$8.44
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$17.44
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 18 min ago; Variational Omni: RFQ quote, 4 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 edgeX live order book, 18 min ago	2.28 bp	6.8 bp −$7	10.3 bp −$103	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.11 bp	doesn't fit	8.6 bp −$86	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	13.222	+0.131%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.231	+0.199%	$488K	$2.4M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.221	+0.125%	$134K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0007%	1h	13.226	+0.163%	$725K	$128K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.092%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.203	−0.010%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.219	+0.110%	$134K	$1.5M	20x	as long as short
dYdX LINK-USD	+0.0056%	1h	13.223	+0.142%	$350K	$48K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.219	+0.114%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.214	+0.076%	$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	13.215	+0.080%	$404K	$313K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.235	+0.231%	$78.2M	$24.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.225	+0.156%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.220	+0.118%	$277K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.223	+0.139%	$123.1M	$303.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.219	+0.110%	$85.4M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.222	+0.133%	$27.9M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.233	+0.216%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.220	+0.118%	$131.0M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.220	+0.118%	$37.0M	$57.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.224	+0.148%	$22.7M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.219	+0.110%	$55.1M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.221	+0.125%	—	$6.6M	—	as long as short
Variational Omni LINKshort	+0.0100%	8h	13.194	−0.081%	$3.3M	$1.6M	—
edgeX LINKUSDClong	+0.0100%	4h	13.204	long leg	$44K	$309K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.198	−0.049%	$595K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.207	+0.019%	$154K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.226	+0.163%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.219	+0.106%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.236	+0.240%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.222	+0.133%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.200	−0.038%	$649K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.217	+0.098%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.224	+0.148%	$555K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.221	+0.125%	$999K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.206	+0.012%	$5.3M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0223%	1h	13.231	+0.201%	$365K	$380K	15x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.219	+0.114%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0460%	8h	13.234	+0.224%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0691%	1h	13.228	+0.179%	$7.0M	$8.2M	50x	as long as short