Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.020%

Price spread now: Variational Omni against Pacifica−0.458%7-day average −0.007% · you buy dearer than you sell

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.039%−$4 on $10k

Price spread, last 4 days (all we have)+0.617%+$62 · spread now −0.458%, 7d avg −0.007%

Together, before fees+0.578%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board+$58 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 0.451% cheaper against Pacifica than usual: you would sell low and buy high, −$45 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica LINK	13.208	0.0100	pay 0.0013% / 1h	41m 18s	$277K	$149K	10x
Short	Variational Omni LINK	13.147	0.0100	get 0.0100% / 8h	1h 41m	$3.3M	$1.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now −0.458%Rate

Funding earned: $0
Price spread: −0.458% → −0.007%: −$45.14
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$53.14
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 42 min ago; Variational Omni: RFQ quote, 3 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 Pacifica live order book, 42 min ago	3.04 bp	11.1 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	3.11 bp	doesn't fit	11.0 bp −$110	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	13.197	−0.079%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.205	−0.018%	$350K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.209	+0.010%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.200	−0.056%	$721K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.200	−0.059%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.116%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.208	+0.005%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.196	−0.089%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.202	−0.046%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.206	−0.012%	$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	13.198	−0.070%	$400K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.211	+0.023%	$77.9M	$23.8M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.204	−0.028%	$1.5M	$2.8M	50x	as long as short
Pacifica LINKlong	+0.0100%	1h	13.208	long leg	$277K	$149K	10x
Binance LINKUSDT	+0.0100%	8h	13.198	−0.074%	$122.4M	$302.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.198	−0.074%	$85.0M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.198	−0.074%	$27.7M	$85.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.219	+0.085%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.203	−0.036%	$131.1M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.198	−0.074%	$36.8M	$56.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.202	−0.044%	$22.3M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.196	−0.089%	$54.9M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.200	−0.059%	—	$6.6M	—	as long as short
Variational Omni LINKshort	+0.0100%	8h	13.147	−0.458%	$3.3M	$1.5M	—
edgeX LINKUSDC	+0.0100%	4h	13.181	−0.202%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.165	−0.324%	$594K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.172	−0.271%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.203	−0.036%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.194	−0.103%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.223	+0.116%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.197	−0.081%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.197	−0.085%	$649K	$898K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.194	−0.105%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.197	−0.079%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.202	−0.044%	$995K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0182%	1h	13.213	+0.040%	$367K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.203	−0.036%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.197	−0.082%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0452%	8h	13.211	+0.025%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0692%	1h	13.202	−0.043%	$7.0M	$8.0M	50x	as long as short