Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0057%/8h= +6.2% APRpaid last 24h +0.020%

Price spread now: Nado against Variational Omni−0.062%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 Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.034%+$3 on $10k

Price spread, last 3 days (all we have)+0.267%+$27 · spread now −0.062%, 7d avg +0.006%

Together, before fees+0.301%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.067% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of +0.006%). If the spread goes back, that is −$7 on $10k: about 4.0 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LINK	13.084	0.0043	pay 0.0043% / 8h	2h 45m	$3.3M	$1.5M	—
Short	Nado LINK-PERP	13.075	0.0100	get 0.0012% / 1h	45m 01s	$397K	$317K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.062%Rate

Funding earned: $11.94
Price spread: −0.062% → +0.006%: −$6.74
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$1.8
Costs to cover: 0.070%
Break-even: 8.1 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Nado: live order book, 42 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	3.10 bp	doesn't fit	10.1 bp −$101	doesn't fit	doesn't fit
Sell Nado live order book, 42 min ago	1.13 bp	7.3 bp −$7	19.4 bp −$194	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 −0.0091% / S +0.0165%	1h	13.079	−0.035%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.086	+0.016%	$456K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.079	−0.036%	$701K	$111K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.080	−0.027%	$82K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.073	−0.079%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.225%	$4K	$48K	12x	as long as short
Variational Omni LINKlong	+0.0043%	8h	13.084	long leg	$3.3M	$1.5M	—
dYdX LINK-USD	+0.0051%	1h	13.082	−0.012%	$347K	$60K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.071	−0.096%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.080	−0.028%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.071	−0.099%	$31K	$3K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	13.075	−0.062%	$397K	$317K	10x
Hyperliquid LINK	+0.0100%	1h	13.085	+0.011%	$77.2M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.080	−0.029%	$1.5M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.078	−0.044%	$274K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.072	−0.085%	$120.9M	$299.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.074	−0.073%	$84.3M	$69.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.073	−0.081%	$27.5M	$84.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.090	+0.049%	$183K	$171K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.076	−0.058%	$130.3M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.071	−0.096%	$35.6M	$56.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.076	−0.058%	$21.9M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.072	−0.088%	$54.0M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.074	−0.073%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.084	+0.003%	$362K	$369K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.086	+0.019%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.076	−0.061%	$588K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.091	+0.057%	$152K	$662K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.080	−0.027%	$80K	$63K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.074	−0.076%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.086	+0.021%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.075	−0.065%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.069	−0.112%	$639K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.070	−0.106%	$664K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.081	−0.017%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.082	−0.012%	$986K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.078	−0.043%	$5.2M	$16.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.078	−0.043%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0501%	8h	13.092	+0.064%	$20.2M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0506%	1h	13.087	+0.026%	$7.0M	$7.7M	50x	as long as short