Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0302%/8h= −33.0% APRpaid last 24h −0.080%

Price spread now: edgeX against Reya−0.060%65s7-day average — · you buy dearer than you sell

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

Long on Reya Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 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 · edgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and edgeX is 0.060% cheaper against Reya than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	12.890	0.0402	pay 0.0050% / 1h	0m 20s	$4K	—	20x
Short	edgeX LINKUSDC	12.882	0.0100	get 0.0050% / 4h	0m 20s	$43K	$308K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$63.37
Price spread: −0.060% → 0.000%: −$5.99
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$84.36
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; edgeX: live order book, 38 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 edgeX live order book, 38 min ago	2.33 bp	6.9 bp −$7	10.7 bp −$107	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
Orderly PERP_LINK_USDC	−0.0098%	8h	12.886	−0.030%	$90K	$1.0M	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.887	−0.020%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.888	−0.014%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.889	−0.010%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.800%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.894	+0.035%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.893	+0.028%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.892	+0.019%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.887	−0.018%	$348K	$336K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.904	+0.110%	$80.5M	$27.9M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.895	+0.039%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.892	+0.019%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.895	+0.039%	$119.2M	$298.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.888	−0.014%	$83.5M	$73.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.894	+0.032%	$27.1M	$80.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.910	+0.156%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.895	+0.040%	$133.9M	$18.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.894	+0.032%	$34.7M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.897	+0.056%	$22.9M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.892	+0.017%	$53.9M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.894	+0.032%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.901	+0.087%	$335K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.879	−0.086%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDCshort	+0.0100%	4h	12.882	−0.060%	$43K	$308K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	12.889	−0.006%	$578K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.881	−0.069%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.896	+0.048%	$82K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.881	−0.070%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.901	+0.087%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.888	−0.014%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.868	−0.170%	$629K	$751K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.891	+0.006%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.890	+0.001%	$618K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.901	+0.087%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.899	+0.071%	$931K	$3.0M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.885	−0.038%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0316%	1h	12.895	+0.040%	$807K	$268K	50x	as long as short
Reya LINKRUSDPERPlong	+0.0402%	1h	12.890	long leg	$4K	—	20x
dYdX LINK-USD	+0.0547%	1h	12.886	−0.027%	$343K	$45K	10x	as long as short
Phemex LINKUSDT	+0.0550%	8h	12.905	+0.118%	$19.9M	$11.4M	50x	as long as short