Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.011%

Price spread now: Extended against Variational Omni−0.076%7-day average −0.041% · you buy dearer than you sell

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.010%+$1 on $10k

Price spread, last 7 days+0.057%+$6 · spread now −0.076%, 7d avg −0.041%

Together, before fees+0.068%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board+$7 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: Extended is 0.035% cheaper against Variational Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LINK	12.945	0.0100	pay 0.0100% / 8h	2h 00m	$3.3M	$1.7M	—
Short	Extended LINK-USD	12.935	0.0104	get 0.0013% / 1h	0m 38s	$628K	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.076%Rate

Funding earned: $0.84
Price spread: −0.076% → −0.041%: −$3.47
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$7.63
Costs to cover: 0.050%
Break-even: 70.5 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Extended: live order book, 3 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, 4 min ago	3.13 bp	doesn't fit	6.3 bp −$63	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	2.32 bp	5.5 bp −$6	6.9 bp −$69	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	12.949	+0.033%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.958	+0.097%	$526K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.950	+0.037%	$157K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0022%	8h	12.944	−0.009%	$95K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.211%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.958	+0.101%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.945	−0.001%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.942	−0.020%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.950	+0.042%	$347K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.947	+0.015%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.947	+0.012%	$276K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.946	+0.007%	$119.4M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.941	−0.032%	$83.5M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.945	−0.001%	$27.0M	$81.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.960	+0.115%	$181K	$95K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.941	−0.032%	$124.5M	$15.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.945	−0.001%	$32.9M	$58.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.948	+0.022%	$22.8M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.941	−0.032%	$54.1M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.944	−0.009%	—	$23.3M	—	as long as short
Variational Omni LINKlong	+0.0100%	8h	12.945	long leg	$3.3M	$1.7M	—
edgeX LINKUSDC	+0.0100%	4h	12.953	+0.064%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.958	+0.102%	$590K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.970	+0.192%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.955	+0.076%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.951	+0.042%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.965	+0.157%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.953	+0.061%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.939	−0.047%	$634K	$786K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	12.935	−0.076%	$628K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	12.954	+0.069%	$543K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.961	+0.123%	$936K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0135%	1h	12.958	+0.100%	$338K	$390K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.952	+0.053%	$5.2M	$15.9M	75x	as long as short
Hyperliquid LINK	+0.0248%	1h	12.959	+0.107%	$80.8M	$27.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0276%	1h	12.956	+0.088%	$6.7M	$8.3M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0283%	1h	12.958	+0.103%	$808K	$254K	50x	as long as short
Reya LINKRUSDPERP	+0.0396%	1h	12.949	+0.029%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0576%	8h	12.969	+0.185%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0608%	1h	12.949	+0.033%	$345K	$33K	10x	as long as short