Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.008%

Price spread now: Bybit against Variational Omni−0.264%7-day average −0.006% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 7 days+0.280%+$28 · spread now −0.264%, 7d avg −0.006%

Together, before fees+0.291%+ Points / potential airdropVariational Omni: Active · farm board+$29 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: Bybit is 0.257% cheaper against Variational Omni than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LINK	13.218	0.0100	pay 0.0100% / 8h	37m 15s	$3.3M	$1.6M	—
Short	Bybit LINKUSDT	13.183	0.0100	get 0.0100% / 8h	37m 15s	$85.1M	$71.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.264%Rate

Funding earned: $0
Price spread: −0.264% → −0.006%: −$25.75
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$36.75
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Bybit: 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 Variational Omni RFQ quote, 2 min ago	3.11 bp	doesn't fit	8.8 bp −$88	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.38 bp	6.5 bp −$6	11.3 bp −$113	33.1 bp −$3,305	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 −0.0091% / S +0.0167%	1h	13.190	−0.213%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.199	−0.141%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.192	−0.199%	$723K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.192	−0.198%	$134K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.204	−0.104%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.187%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.186	−0.241%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.186	−0.241%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.190	−0.208%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.190	−0.207%	$402K	$312K	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	13.194	−0.178%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.194	−0.182%	$277K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.185	−0.249%	$122.7M	$304.1M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.183	−0.264%	$85.1M	$71.0M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.184	−0.256%	$27.8M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.209	−0.067%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.191	−0.203%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.192	−0.196%	$36.7M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.195	−0.173%	$22.6M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.185	−0.249%	$54.8M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.189	−0.218%	—	$6.6M	—	as long as short
Variational Omni LINKlong	+0.0100%	8h	13.218	long leg	$3.3M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	13.202	−0.120%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.213	−0.036%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.209	−0.067%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.194	−0.180%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.186	−0.244%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.201	−0.124%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.186	−0.241%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.186	−0.241%	$649K	$888K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.184	−0.258%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.190	−0.208%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.202	−0.120%	$999K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.188	−0.226%	$5.3M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0280%	1h	13.206	−0.090%	$78.1M	$24.0M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0314%	1h	13.207	−0.082%	$365K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.188	−0.226%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0476%	8h	13.203	−0.112%	$20.4M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0476%	1h	13.194	−0.177%	$7.0M	$8.2M	50x	as long as short
dYdX LINK-USD	+0.0495%	1h	13.195	−0.169%	$349K	$48K	10x	as long as short