Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0285%/8h= +31.2% APRpaid last 24h +0.095%

Price spread now: Reya against GRVT+0.346%7-day average — · you sell dearer than you buy

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

Long on GRVT 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 airdropGRVT: Active · Reya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Reya is 0.346% dearer against GRVT than usual: you sell high and buy low: +$35 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT LINK_USDT_Perp	12.959	0.0100	pay 0.0100% / 8h	6h 04m	$584K	$2.7M	10x
Short	Reya LINKRUSDPERP	13.004	0.0385	get 0.0048% / 1h	4m 59s	$4K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against GRVT. 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 GRVTbpFee ReyabpOrdersPrice spread, now +0.346%Rate

Funding earned: $59.87
Price spread: +0.346% → 0.000%: $34.63
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Reya: 3 bp × 2 orders: −$6
Net: $79.5
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: GRVT: live order book, 4 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 GRVT live order book, 4 min ago	2.70 bp	8.6 bp −$9	15.1 bp −$151	doesn't fit	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 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 −0.0090% / S +0.0167%	1h	13.004	+0.348%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.000	+0.314%	$468K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.003	+0.340%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.314%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.992	+0.256%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.002	+0.332%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.004	+0.347%	$951K	$2.6M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.004	+0.351%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.996	+0.283%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.993	+0.262%	$395K	$318K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.004	+0.349%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.994	+0.270%	$275K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.009	+0.385%	$119.6M	$299.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.006	+0.363%	$84.0M	$71.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.009	+0.386%	$27.4M	$82.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.008	+0.378%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.001	+0.324%	$128.2M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.006	+0.363%	$33.2M	$59.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.008	+0.378%	$23.1M	$14.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.012	+0.409%	$54.1M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.003	+0.340%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.988	+0.226%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.974	+0.115%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perplong	+0.0100%	8h	12.959	long leg	$584K	$2.7M	10x
ApeX Omni LINKUSDT	+0.0100%	1h	12.976	+0.131%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.010	+0.394%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.002	+0.334%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.005	+0.353%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.006	+0.363%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.971	+0.094%	$640K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.012	+0.405%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.007	+0.367%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0138%	1h	13.013	+0.417%	$338K	$379K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0142%	1h	13.008	+0.380%	$773K	$212K	50x	as long as short
Reya LINKRUSDPERPshort	+0.0385%	1h	13.004	+0.346%	$4K	—	20x
dYdX LINK-USD	+0.0432%	1h	12.985	+0.204%	$344K	$31K	10x	as long as short
Hyperliquid LINK	+0.0473%	1h	13.020	+0.471%	$81.0M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0501%	1h	13.010	+0.393%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0639%	8h	13.020	+0.471%	$20.1M	$11.6M	50x	as long as short