Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0274%/8h= −30.0% APRpaid last 24h −0.072%

Price spread now: Aster against Reya+0.035%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Aster

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 · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.035% dearer against Reya than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	13.184	0.0374	pay 0.0047% / 1h	15m 45s	$5K	—	20x
Short	Aster LINKUSDT	13.189	0.0100	get 0.0100% / 8h	2h 15m	$1.6M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Reya. 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 ReyabpFee AsterbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$57.46
Price spread: +0.035% → 0.000%: $3.54
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$67.92
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Aster: live order book, 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 Reya no order-book sample	—	—	—	—	—
Sell Aster live order book, 3 min ago	1.52 bp	7.6 bp −$8	15.2 bp −$152	doesn't fit	doesn't fit

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 −0.0092% / S +0.0166%	1h	13.183	−0.010%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.194	+0.074%	$493K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.184	+0.003%	$717K	$122K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.183	−0.004%	$134K	—	150x	as long as short
dYdX LINK-USD	+0.0016%	1h	13.187	+0.022%	$349K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.185	+0.006%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.946%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0042%	8h	13.178	−0.045%	$134K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0087%	8h	13.164	−0.153%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.191	+0.050%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.189	+0.039%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.189	+0.042%	$401K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.200	+0.122%	$78.0M	$23.5M	10x	as long as short
Aster LINKUSDTshort	+0.0100%	8h	13.189	+0.035%	$1.6M	$2.7M	50x
Pacifica LINK	+0.0100%	1h	13.193	+0.070%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.185	+0.008%	$122.2M	$301.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.185	+0.008%	$84.9M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.185	+0.008%	$27.9M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.201	+0.129%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.185	+0.008%	$131.0M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.184	0.000%	$37.4M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.185	+0.008%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.184	0.000%	$54.6M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.183	−0.007%	—	$21.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.167	−0.128%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.164	−0.151%	$594K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.168	−0.121%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.189	+0.038%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.179	−0.041%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.194	+0.080%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.178	−0.045%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.157	−0.207%	$647K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.181	−0.020%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.183	−0.004%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.202	+0.137%	$993K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.191	+0.053%	$366K	$372K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.190	+0.046%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERPlong	+0.0374%	1h	13.184	long leg	$5K	—	20x
Phemex LINKUSDT	+0.0461%	8h	13.194	+0.076%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0503%	1h	13.187	+0.022%	$7.0M	$7.9M	50x	as long as short