Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0552%/8h= +60.4% APRpaid last 24h +0.041%

Price spread now: dYdX against Variational Omni−0.133%7-day average +0.007% · you buy dearer than you sell

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

Long on Variational Omni Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.201%+$20 on $10k

Price spread, last 4 days (all we have)−0.135%−$13 · spread now −0.133%, 7d avg +0.007%

Together, before fees+0.066%+ Points / potential airdropVariational Omni: Active · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.140% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.133% now, against its 7-day average of +0.007%). If the spread goes back, that is −$14 on $10k: about 20 hours of funding at the current rate (+$17 a day). At the pace of the last 3 days (+0.201% in total) that is about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LINK	13.182	0.0100	pay 0.0100% / 8h	32m 46s	$3.3M	$1.6M	—
Short	dYdX LINK-USD	13.164	0.0652	get 0.0081% / 1h	32m 46s	$349K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 dYdXbpOrdersPrice spread, now −0.133%Rate

Funding earned: $115.83
Price spread: −0.133% → +0.007%: −$14.02
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: $91.81
Costs to cover: 0.100%
Break-even: 1.5 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; dYdX: live order book, 46 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	3.12 bp	doesn't fit	7.1 bp −$71	doesn't fit	doesn't fit
Sell dYdX live order book, 46 min ago	78.47 bp	83.5 bp −$83	111.1 bp −$1,111	126.8 bp −$12.7K	191.1 bp −$95.5K

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	13.166	−0.122%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.171	−0.086%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.166	−0.118%	$727K	$133K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.166	−0.123%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.171	−0.085%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.932%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.162	−0.152%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.162	−0.152%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.158	−0.180%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.160	−0.163%	$401K	$311K	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	13.162	−0.148%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.165	−0.130%	$277K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.164	−0.136%	$122.4M	$304.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.162	−0.152%	$84.8M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.165	−0.129%	$27.8M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.182	0.000%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.156	−0.197%	$130.4M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.164	−0.136%	$36.9M	$57.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.162	−0.152%	$22.8M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.155	−0.205%	$54.7M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.157	−0.190%	—	$6.6M	—	as long as short
Variational Omni LINKlong	+0.0100%	8h	13.182	long leg	$3.3M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	13.190	+0.057%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.185	+0.023%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.178	−0.030%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.171	−0.083%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.160	−0.164%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.175	−0.049%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.161	−0.159%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.152	−0.224%	$647K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.153	−0.218%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.165	−0.131%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.174	−0.061%	$997K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.158	−0.182%	$5.3M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0273%	1h	13.173	−0.068%	$77.9M	$24.1M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0279%	1h	13.167	−0.114%	$363K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.165	−0.129%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0477%	1h	13.170	−0.090%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0478%	8h	13.179	−0.023%	$20.4M	$11.6M	50x	as long as short
dYdX LINK-USDshort	+0.0652%	1h	13.164	−0.133%	$349K	$48K	10x