Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0278%/8h= −30.5% APRpaid last 24h −0.083%

Price spread now: Gate against Reya−0.034%7-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 Gate

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

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Gate is 0.034% cheaper against Reya than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	13.158	0.0378	pay 0.0047% / 1h	32m 00s	$5K	—	20x
Short	Gate LINK_USDT	13.153	0.0100	get 0.0100% / 8h	32m 00s	$130.3M	$12.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.034%Rate

Funding earned: −$58.46
Price spread: −0.034% → 0.000%: −$3.43
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$82.89
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Gate: live order book, 2 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 Gate live order book, 2 min ago	1.90 bp	16.9 bp −$17	21.5 bp −$215	35.7 bp −$3,565	77.9 bp −$38.9K

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 −0.0091% / S +0.0167%	1h	13.160	+0.020%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.168	+0.077%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.160	+0.020%	$726K	$133K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.161	+0.027%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.171	+0.101%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.757%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.155	−0.019%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.153	−0.034%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.158	+0.006%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.158	+0.004%	$401K	$311K	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	13.158	+0.006%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.165	+0.055%	$277K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.149	−0.063%	$122.3M	$304.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.150	−0.057%	$84.8M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.150	−0.057%	$27.7M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.180	+0.171%	$185K	$172K	10x	as long as short
Gate LINK_USDTshort	+0.0100%	8h	13.153	−0.034%	$130.3M	$12.8M	75x
MEXC LINK_USDT	+0.0100%	8h	13.157	−0.004%	$36.9M	$57.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.159	+0.011%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.146	−0.088%	$54.7M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.153	−0.034%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.182	+0.186%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.190	+0.243%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.185	+0.209%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.178	+0.156%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.167	+0.072%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.155	−0.022%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.178	+0.154%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.152	−0.042%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.140	−0.133%	$646K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.144	−0.101%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.157	−0.008%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.174	+0.125%	$997K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.158	+0.004%	$5.3M	$17.3M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0271%	1h	13.163	+0.042%	$363K	$379K	15x	as long as short
Hyperliquid LINK	+0.0272%	1h	13.169	+0.087%	$77.9M	$24.1M	10x	as long as short
Reya LINKRUSDPERPlong	+0.0378%	1h	13.158	long leg	$5K	—	20x
Kraken Futures PF_LINKUSD	+0.0477%	1h	13.161	+0.023%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0480%	8h	13.171	+0.102%	$20.4M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0652%	1h	13.164	+0.052%	$349K	$48K	10x	as long as short