Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0277%/8h= +30.3% APRpaid last 24h +0.073%

Price spread now: Reya against SunX−0.034%50s7-day average — · you buy dearer than you sell

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

Long on SunX Short on Reya

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

Funding pays, the price is against you. Reya is 0.034% cheaper against SunX than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 10 hours of funding at the current rate (+$8 a day). The two prices were read 50 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	SunX LINK-USDT	13.175	0.0100	pay 0.0100% / 8h	1h 12m	$34K	$1.6M	30x
Short	Reya LINKRUSDPERP	13.170	0.0377	get 0.0047% / 1h	12m 27s	$5K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against SunX. 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 SunXbpFee ReyabpOrdersPrice spread, now −0.034%Rate

Funding earned: $58.07
Price spread: −0.034% → 0.000%: −$3.4
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $40.67
Costs to cover: 0.140%
Break-even: 2.1 days

Slippage unknown: SunX: live order book, 12 min ago; Reya: no order-book sample. 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 SunX live order book, 12 min ago	13.66 bp	18.0 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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 −0.0090% / S +0.0167%	1h	13.175	0.000%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.170	−0.035%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.165	−0.074%	$719K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.175	+0.005%	$134K	—	150x	as long as short
dYdX LINK-USD	+0.0030%	1h	13.174	−0.003%	$349K	$48K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.881%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.183	+0.060%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.170	−0.036%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.175	+0.002%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.170	−0.037%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.172	−0.021%	$403K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.188	+0.100%	$77.9M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.176	+0.007%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.176	+0.006%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.174	−0.010%	$122.4M	$303.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.172	−0.021%	$85.0M	$70.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.175	+0.002%	$27.8M	$86.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.187	+0.093%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.173	−0.014%	$130.6M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.172	−0.021%	$36.3M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.175	+0.002%	$22.4M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.171	−0.029%	$54.8M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.174	−0.006%	—	$21.4M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.184	+0.069%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.179	+0.034%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	+0.070%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.187	+0.093%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.176	+0.009%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.157	−0.133%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	13.175	long leg	$34K	$1.6M	30x
SoDEX LINK-USD	+0.0100%	1h	13.162	−0.097%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.158	−0.131%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.169	−0.045%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.163	−0.086%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.178	+0.024%	$995K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0210%	1h	13.176	+0.009%	$365K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.166	−0.067%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERPshort	+0.0377%	1h	13.170	−0.034%	$5K	—	20x
Phemex LINKUSDT	+0.0472%	8h	13.181	+0.047%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0694%	1h	13.170	−0.036%	$6.9M	$8.1M	50x	as long as short