Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0266%/8h= −29.1% APRpaid last 24h −0.053%

Price spread now: GMX against Variational Omni+0.071%7-day average +0.049% · you sell dearer than you buy

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

Long on Variational Omni Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.224%−$22 on $10k

Price spread, last 4 days (all we have)+0.075%+$7 · spread now +0.071%, 7d avg +0.049%

Together, before fees−0.149%+ Points / potential airdropVariational Omni: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.022% dearer against Variational Omni than usual: you sell high and buy low (spread +0.071% now, against its 7-day average of +0.049%): +$2 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LINK	12.976	0.0100	pay 0.0100% / 8h	3h 32m	$3.3M	$1.6M	—
Short	GMX LINK/USD [LINK-USDC]	12.985	L −0.0089% / S +0.0166%	pay 0.0021% / 1h	32m 58s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.071%Rate

Funding earned: −$55.85
Price spread: +0.071% → +0.049%: $2.19
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$65.65
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; GMX: 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 Variational Omni RFQ quote, 1 min ago	3.12 bp	doesn't fit	10.6 bp −$106	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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]short	L −0.0089% / S +0.0166%	1h	12.985	+0.071%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.987	+0.085%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.985	+0.071%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.441%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0051%	8h	12.982	+0.044%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	13.008	+0.243%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.985	+0.068%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.983	+0.056%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.985	+0.070%	$392K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.987	+0.083%	$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	12.982	+0.044%	$275K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.989	+0.095%	$120.8M	$300.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.983	+0.052%	$83.9M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.987	+0.083%	$27.5M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.001	+0.191%	$182K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.986	+0.075%	$128.7M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.988	+0.091%	$32.9M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.991	+0.114%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.986	+0.075%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.984	+0.060%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.992	+0.122%	$341K	$390K	15x	as long as short
Variational Omni LINKlong	+0.0100%	8h	12.976	long leg	$3.3M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	12.984	+0.061%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.985	+0.069%	$581K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.013	+0.283%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.988	+0.091%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.985	+0.067%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.993	+0.132%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.985	+0.068%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.967	−0.073%	$636K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.984	+0.058%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.987	+0.083%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.987	+0.083%	$924K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0181%	1h	12.992	+0.120%	$789K	$210K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.986	+0.075%	$5.3M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0244%	1h	12.990	+0.104%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0354%	1h	13.000	+0.183%	$81.2M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0392%	1h	12.981	+0.035%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0538%	8h	13.002	+0.199%	$20.1M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0610%	1h	12.984	+0.062%	$344K	$30K	10x	as long as short