Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0277%/8h= +30.3% APRpaid last 24h +0.080%

Price spread now: Reya against OKX−0.037%7-day average — · you buy dearer than you sell

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

Long on OKX 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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.037% cheaper against OKX than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 11 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LINK-USDT-SWAP	13.166	0.0100	pay 0.0100% / 8h	1h 10m	$27.8M	$86.1M	50x
Short	Reya LINKRUSDPERP	13.161	0.0377	get 0.0047% / 1h	10m 25s	$5K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against OKX. 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 OKXbpFee ReyabpOrdersPrice spread, now −0.037%Rate

Funding earned: $58.09
Price spread: −0.037% → 0.000%: −$3.75
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $38.35
Costs to cover: 0.160%
Break-even: 2.4 days

Slippage unknown: OKX: live order book, 3 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 OKX live order book, 3 min ago	0.38 bp	8.3 bp −$8	19.2 bp −$192	38.9 bp −$3,890	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 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	13.168	+0.017%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.184	+0.136%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.173	+0.051%	$719K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.173	+0.053%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.818%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.183	+0.127%	$3K	$81K	10x	as long as short
dYdX LINK-USD	+0.0041%	1h	13.164	−0.013%	$349K	$48K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.169	+0.023%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.167	+0.008%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.161	−0.041%	$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	13.163	−0.019%	$403K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.182	+0.122%	$77.9M	$24.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.170	+0.032%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.167	+0.010%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.169	+0.023%	$122.3M	$303.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.168	+0.015%	$84.9M	$70.6M	75x	as long as short
OKX LINK-USDT-SWAPlong	+0.0100%	8h	13.166	long leg	$27.8M	$86.1M	50x
Arcus LINK-USD	+0.0100%	1h	13.180	+0.106%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.167	+0.008%	$130.6M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.164	−0.015%	$36.3M	$57.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.168	+0.015%	$22.6M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.165	−0.008%	$54.8M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.168	+0.015%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.184	+0.136%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.160	−0.048%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.162	−0.032%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.163	−0.023%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.168	+0.015%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.167	+0.009%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.186	+0.155%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.170	+0.030%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.156	−0.077%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.160	−0.047%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.172	+0.048%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.179	+0.099%	$995K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0212%	1h	13.179	+0.099%	$365K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.170	+0.030%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERPshort	+0.0377%	1h	13.161	−0.037%	$5K	—	20x
Phemex LINKUSDT	+0.0468%	8h	13.185	+0.144%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0694%	1h	13.176	+0.078%	$6.9M	$8.1M	50x	as long as short