Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0310%/8h= −34.0% APRpaid last 24h −0.084%

Price spread now: HTX against Reya−0.012%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 HTX

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 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	12.874	0.0410	pay 0.0051% / 1h	50m 51s	$4K	—	20x
Short	HTX LINK-USDT	12.873	0.0100	get 0.0100% / 8h	4h 50m	$610K	$700K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$65.19
Price spread: −0.012% → 0.000%: −$1.22
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$84.41
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; HTX: live order book, 56 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 HTX live order book, 56 min ago	11.77 bp	21.2 bp −$21	177.0 bp −$1,770	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 exchanges

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	−0.0248%	8h	12.872	−0.017%	$84K	$794K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.881	+0.052%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.888	+0.110%	$479K	$2.0M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.880	+0.044%	$114K	—	150x	as long as short
Phoenix LINK	+0.0025%	1h	12.914	+0.309%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.683%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0069%	8h	12.891	+0.131%	$3.4M	$1.7M	—	as long as short
Lighter LINK	+0.0096%	1h	12.882	+0.058%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.877	+0.019%	$31K	$600	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.880	+0.049%	$345K	$273K	10x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.888	+0.107%	$81.1M	$25.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.887	+0.099%	$1.2M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.882	+0.061%	$274K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.884	+0.076%	$119.8M	$263.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.877	+0.022%	$83.7M	$66.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.879	+0.038%	$27.4M	$72.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.898	+0.185%	$180K	$84K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.880	+0.045%	$132.8M	$17.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.884	+0.076%	$36.1M	$52.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.886	+0.092%	$23.3M	$11.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.878	+0.030%	$53.8M	$25.8M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.880	+0.045%	—	$23.4M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.888	+0.107%	$324K	$349K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.904	+0.235%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.907	+0.255%	$581K	$3.2M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.913	+0.302%	$104K	$686K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.884	+0.076%	$82K	$56K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.877	+0.024%	$16K	$18K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.899	+0.193%	$33K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.881	+0.053%	$10K	$61K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	12.873	−0.012%	$610K	$700K	75x
Extended LINK-USD	+0.0104%	1h	12.875	+0.010%	$625K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.881	+0.055%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.906	+0.247%	$983K	$3.0M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0216%	1h	12.883	+0.069%	$6.6M	$7.5M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.883	+0.069%	$5.4M	$15.1M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0309%	1h	12.888	+0.106%	$888K	$361K	50x	as long as short
Phemex LINKUSDT	+0.0409%	8h	12.897	+0.177%	$19.9M	$10.1M	50x	as long as short
Reya LINKRUSDPERPlong	+0.0410%	1h	12.874	long leg	$4K	—	20x
dYdX LINK-USD	+0.1056%	1h	12.887	+0.096%	$347K	$20K	10x	as long as short