Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.005%

Price spread now: Variational Omni against Extended−0.028%7-day average +0.042% · you buy dearer than you sell

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 7 days+0.044%+$4 · spread now −0.028%, 7d avg +0.042%

Together, before fees+0.038%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$4 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 0.070% cheaper against Extended than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended LINK-USD	12.960	0.0104	pay 0.0013% / 1h	54m 50s	$637K	$2.0M	25x
Short	Variational Omni LINK	12.956	0.0100	get 0.0100% / 8h	4h 54m	$3.4M	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now −0.028%Rate

Funding earned: −$0.84
Price spread: −0.028% → +0.042%: −$7.03
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$12.87
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 4 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 Extended live order book, 4 min ago	2.71 bp	5.9 bp −$6	7.2 bp −$72	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.09 bp	doesn't fit	8.0 bp −$80	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	12.955	−0.038%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.952	−0.063%	$489K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.956	−0.030%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.321%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0061%	8h	12.955	−0.039%	$117K	$1.4M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.956	−0.031%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.964	+0.030%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0098%	1h	12.920	−0.311%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.947	−0.104%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.946	−0.105%	$392K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.960	+0.003%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.952	−0.065%	$273K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.962	+0.014%	$119.9M	$297.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.957	−0.024%	$83.7M	$71.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.960	0.000%	$27.4M	$81.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.967	+0.054%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.958	−0.016%	$128.0M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.963	+0.023%	$32.3M	$55.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.965	+0.038%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.962	+0.015%	$53.9M	$29.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.958	−0.016%	—	$22.4M	—	as long as short
Variational Omni LINKshort	+0.0100%	8h	12.956	−0.028%	$3.4M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	12.913	−0.365%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.944	−0.123%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.911	−0.378%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.958	−0.016%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.957	−0.025%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.973	+0.096%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.955	−0.039%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.942	−0.141%	$634K	$704K	75x	as long as short
Extended LINK-USDlong	+0.0104%	1h	12.960	long leg	$637K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	12.957	−0.024%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0128%	1h	12.963	+0.024%	$773K	$184K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0166%	1h	12.969	+0.069%	$340K	$389K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.960	0.000%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.948	−0.090%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.959	−0.006%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0464%	1h	12.977	+0.131%	$81.6M	$27.3M	10x	as long as short
Phemex LINKUSDT	+0.0616%	8h	12.967	+0.054%	$20.0M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0646%	1h	12.945	−0.114%	$343K	$30K	10x	as long as short