Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0273%/8h= −29.9% APRpaid last 24h −0.080%

Price spread now: OKX against Reya+0.076%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 OKX

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. OKX is 0.076% dearer against Reya than usual: you sell high and buy low (spread +0.076% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	13.132	0.0373	pay 0.0047% / 1h	28m 50s	$5K	—	20x
Short	OKX LINK-USDT-SWAP	13.142	0.0100	get 0.0100% / 8h	2h 28m	$27.7M	$84.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$57.34
Price spread: +0.076% → 0.000%: $7.64
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$65.7
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; OKX: live order book, 5 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 OKX live order book, 5 min ago	0.38 bp	9.3 bp −$9	16.4 bp −$164	29.2 bp −$2,916	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 −0.0092% / S +0.0166%	1h	13.133	+0.008%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.137	+0.042%	$466K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.137	+0.039%	$712K	$120K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.135	+0.023%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.140	+0.061%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0024%	1h	13.138	+0.043%	$348K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.574%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0046%	8h	13.129	−0.023%	$135K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0068%	8h	13.128	−0.031%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.139	+0.053%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.133	+0.008%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.134	+0.015%	$399K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.153	+0.160%	$77.8M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.140	+0.061%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.137	+0.038%	$275K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.139	+0.054%	$121.4M	$300.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.136	+0.031%	$84.6M	$69.1M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	13.142	+0.076%	$27.7M	$84.8M	50x
Arcus LINK-USD	+0.0100%	1h	13.147	+0.114%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.140	+0.061%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.137	+0.038%	$36.7M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.142	+0.076%	$21.9M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.139	+0.054%	$54.4M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.137	+0.038%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.145	+0.099%	$364K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.125	−0.055%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.128	−0.031%	$593K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.130	−0.015%	$153K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.138	+0.046%	$80K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.130	−0.013%	$16K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.148	+0.119%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.133	+0.008%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.121	−0.085%	$645K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.135	+0.023%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.136	+0.033%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.122	−0.076%	$988K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.133	+0.008%	$5.2M	$16.8M	75x	as long as short
Reya LINKRUSDPERPlong	+0.0373%	1h	13.132	long leg	$5K	—	20x
Phemex LINKUSDT	+0.0474%	8h	13.147	+0.114%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	13.145	+0.096%	$6.9M	$7.8M	50x	as long as short