Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.015%

Price spread now: Variational Omni against Nado−0.181%7-day average −0.008% · you buy dearer than you sell

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

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.281%−$28 · spread now −0.181%, 7d avg −0.008%

Together, before fees−0.310%+ Points / potential airdropNado: Active · Variational Omni: Active · farm board−$31 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 0.173% cheaper against Nado than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LINK-PERP	12.979	0.0100	pay 0.0012% / 1h	32m 01s	$395K	$319K	10x
Short	Variational Omni LINK	12.955	0.0100	get 0.0100% / 8h	6h 32m	$3.3M	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Nado. 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 NadobpFee Variational OmnibpOrdersPrice spread, now −0.181%Rate

Funding earned: $0
Price spread: −0.181% → −0.008%: −$17.33
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$24.33
Costs to cover: 0.070%
Break-even: 2499368229125367.5 days

Slippage unknown: Nado: live order book, 36 min ago; Variational Omni: RFQ quote, 2 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 Nado live order book, 36 min ago	1.14 bp	7.7 bp −$8	19.8 bp −$198	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	3.12 bp	doesn't fit	10.0 bp −$100	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 −0.0090% / S +0.0167%	1h	12.969	−0.079%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.967	−0.095%	$471K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.968	−0.087%	$149K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.461%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.978	−0.007%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	12.967	−0.092%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.951	−0.216%	$952K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.964	−0.115%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.016	+0.286%	$31K	$2K	20x	as long as short
Nado LINK-PERPlong	+0.0100%	1h	12.979	long leg	$395K	$319K	10x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.972	−0.056%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.972	−0.051%	$275K	$164K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.967	−0.096%	$119.1M	$306.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.959	−0.154%	$83.6M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.964	−0.116%	$27.3M	$84.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.983	+0.031%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.971	−0.062%	$128.1M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.964	−0.116%	$33.1M	$59.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.968	−0.085%	$22.6M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.962	−0.131%	$53.9M	$31.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.959	−0.154%	—	$23.0M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.972	−0.054%	$337K	$393K	15x	as long as short
Variational Omni LINKshort	+0.0100%	8h	12.955	−0.181%	$3.3M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	12.955	−0.187%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.962	−0.133%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.958	−0.162%	$133K	$684K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.980	+0.008%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.966	−0.101%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.978	−0.008%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.967	−0.092%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.960	−0.144%	$639K	$864K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.957	−0.173%	$658K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.976	−0.020%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0190%	1h	12.972	−0.052%	$770K	$212K	50x	as long as short
dYdX LINK-USD	+0.0313%	1h	12.963	−0.120%	$343K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	12.975	−0.028%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0393%	1h	12.977	−0.015%	$79.6M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0503%	1h	12.971	−0.062%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0631%	8h	12.985	+0.046%	$20.1M	$11.5M	50x	as long as short