LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0284%/8h= −31.1% APRnext payment −$0.35 per $10,000 · paid last 24h −0.071%

Price spread now: Backpack against Reya+0.063%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 Backpack

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

The price spread pays, funding is against you. Backpack is 0.063% dearer against Reya than usual: you sell high and buy low (spread +0.063% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	12.942	0.0384	pay 0.0048% / 1h	32m 53s	$4K	—	20x
Short	Backpack LINK_USDC_PERP	12.950	0.0100	get 0.0013% / 1h	32m 53s	$337K	$394K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$59.6
Price spread: +0.063% → 0.000%: $6.29
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$69.31
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Backpack: live order book, 36 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 Backpack live order book, 36 min ago	0.38 bp	5.8 bp −$6	668.0 bp −$6,680	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 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	12.946	+0.033%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.953	+0.084%	$472K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.944	+0.018%	$149K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.187%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.978	+0.280%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	12.942	+0.001%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.958	+0.125%	$953K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.941	−0.008%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	12.986	+0.341%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.945	+0.022%	$394K	$322K	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	12.953	+0.087%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.942	−0.002%	$274K	$164K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.957	+0.114%	$119.0M	$306.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.956	+0.109%	$83.6M	$72.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.965	+0.179%	$27.2M	$84.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.955	+0.102%	$181K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.951	+0.071%	$127.9M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.956	+0.109%	$33.5M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.953	+0.086%	$22.5M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.954	+0.094%	$53.9M	$31.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.949	+0.055%	—	$23.0M	—	as long as short
Backpack LINK_USDC_PERPshort	+0.0100%	1h	12.950	+0.063%	$337K	$394K	15x
Variational Omni LINK	+0.0100%	8h	12.955	+0.105%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.955	+0.100%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.962	+0.154%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.958	+0.125%	$133K	$684K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.948	+0.047%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.942	−0.002%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.958	+0.126%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.945	+0.024%	$14K	$44K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.928	−0.104%	$638K	$864K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.955	+0.099%	$658K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.949	+0.055%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0175%	1h	12.950	+0.063%	$769K	$212K	50x	as long as short
dYdX LINK-USD	+0.0281%	1h	12.940	−0.014%	$343K	$48K	10x	as long as short
Reya LINKRUSDPERPlong	+0.0384%	1h	12.942	long leg	$4K	—	20x
Hyperliquid LINK	+0.0391%	1h	12.956	+0.109%	$79.4M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	12.949	+0.053%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0665%	8h	12.959	+0.132%	$20.0M	$11.5M	50x	as long as short