Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0291%/8h= −31.9% APRpaid last 24h −0.078%

Price spread now: KuCoin against Reya−0.030%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 KuCoin

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 −$9 a day on $10k at the current rate, and KuCoin is 0.030% 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	13.049	0.0391	pay 0.0049% / 1h	52m 04s	$4K	—	20x
Short	KuCoin LINKUSDTM	13.045	0.0100	get 0.0100% / 8h	3h 52m	$22.8M	$13.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$61.15
Price spread: −0.030% → 0.000%: −$3.04
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$82.19
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; KuCoin: 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 KuCoin live order book, 2 min ago	1.15 bp	12.1 bp −$12	23.0 bp −$230	68.5 bp −$6,851	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 −0.0089% / S +0.0166%	1h	13.046	−0.026%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.052	+0.021%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.047	−0.018%	$186K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.973%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.043	−0.046%	$118K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.981	−0.524%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.041	−0.058%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.048	−0.010%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.052	+0.025%	$394K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.049	−0.002%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	13.047	−0.016%	$276K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.048	−0.007%	$121.4M	$299.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.039	−0.076%	$84.3M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.041	−0.061%	$27.5M	$81.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.066	+0.131%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.044	−0.038%	$129.1M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.046	−0.023%	$33.1M	$56.4M	300x	as long as short
KuCoin LINKUSDTMshort	+0.0100%	8h	13.045	−0.030%	$22.8M	$13.5M	75x
Bitget LINKUSDT	+0.0100%	8h	13.044	−0.038%	$54.3M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.045	−0.030%	—	$22.5M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.005	−0.335%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.022	−0.204%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.999	−0.383%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.023	−0.199%	$133K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.058	+0.069%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.043	−0.048%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.056	+0.052%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.044	−0.038%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.016	−0.252%	$639K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.038	−0.085%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.047	−0.015%	$547K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.046	−0.023%	$950K	$2.8M	50x	as long as short
dYdX LINK-USD	+0.0178%	1h	13.046	−0.025%	$346K	$30K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0210%	1h	13.049	−0.001%	$785K	$202K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.043	−0.046%	$5.3M	$15.8M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0222%	1h	13.053	+0.031%	$344K	$390K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.044	−0.035%	$6.7M	$8.1M	50x	as long as short
Reya LINKRUSDPERPlong	+0.0391%	1h	13.049	long leg	$4K	—	20x
Hyperliquid LINK	+0.0413%	1h	13.061	+0.094%	$81.8M	$27.4M	10x	as long as short
Phemex LINKUSDT	+0.0521%	8h	13.057	+0.062%	$20.2M	$11.3M	50x	as long as short