Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.015%

Price spread now: ApeX Omni against Variational Omni+0.107%7-day average +0.068% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.038%+$4 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.107%, 7d avg +0.068%

Together, before fees+0.001%+ Points / potential airdropVariational Omni: Active · farm board$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.039% dearer against Variational Omni than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LINK	12.896	0.0100	pay 0.0100% / 8h	2h 43m	$3.3M	$1.6M	—
Short	ApeX Omni LINKUSDT	12.910	0.0100	get 0.0013% / 1h	43m 03s	$132K	$675K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.107%Rate

Funding earned: $0
Price spread: +0.107% → +0.068%: $3.88
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$6.12
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; ApeX Omni: 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 Variational Omni RFQ quote, 1 min ago	3.14 bp	doesn't fit	8.7 bp −$87	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 5 min ago	8.12 bp	16.4 bp −$16	101.4 bp −$1,014	doesn't fit	doesn't fit

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	12.874	−0.173%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.870	−0.201%	$509K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.876	−0.154%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.848%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0054%	8h	12.866	−0.235%	$101K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.903	+0.052%	$3K	$82K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0084%	1h	12.882	−0.107%	$787K	$228K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.875	−0.165%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.886	−0.077%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.887	−0.068%	$342K	$339K	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	12.878	−0.140%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.888	−0.061%	$274K	$185K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.873	−0.180%	$119.1M	$300.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.871	−0.196%	$83.0M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.876	−0.157%	$27.2M	$80.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.902	+0.045%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.870	−0.203%	$124.0M	$14.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.874	−0.172%	$33.1M	$56.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.879	−0.134%	$22.6M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.875	−0.165%	$54.0M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.875	−0.165%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.880	−0.126%	$338K	$389K	15x	as long as short
Variational Omni LINKlong	+0.0100%	8h	12.896	long leg	$3.3M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	12.913	+0.129%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.898	+0.014%	$585K	$2.8M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	12.910	+0.107%	$132K	$675K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.885	−0.087%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.873	−0.177%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.895	−0.013%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.875	−0.165%	$10K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.876	−0.161%	$632K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.871	−0.198%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.877	−0.145%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.904	+0.060%	$916K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.878	−0.141%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0264%	1h	12.887	−0.068%	$80.4M	$27.5M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0278%	1h	12.878	−0.140%	$6.6M	$8.2M	50x	as long as short
Reya LINKRUSDPERP	+0.0394%	1h	12.879	−0.137%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0578%	8h	12.893	−0.025%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0979%	1h	12.887	−0.072%	$342K	$32K	10x	as long as short