Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.016%

Price spread now: Variational Omni against Aevo−0.262%7-day average −0.033% · you buy dearer than you sell

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

Long on Aevo Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.039%−$4 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now −0.262%, 7d avg −0.033%

Together, before fees+0.028%+ Points / potential airdropVariational Omni: Active · farm board+$3 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: Variational Omni is 0.229% cheaper against Aevo than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo LINK-PERP	12.912	0.0104	pay 0.0013% / 1h	43m 51s	$541K	$2K	3x
Short	Variational Omni LINK	12.878	0.0100	get 0.0100% / 8h	4h 43m	$3.4M	$1.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aevo. 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 AevobpFee Variational OmnibpOrdersPrice spread, now −0.262%Rate

Funding earned: −$0.84
Price spread: −0.262% → −0.033%: −$22.88
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$39.72
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 15 min ago; Variational Omni: RFQ quote, just now. 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 Aevo live order book, 15 min ago	33.99 bp	105.1 bp −$105	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	3.10 bp	doesn't fit	11.2 bp −$112	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 −0.0090% / S +0.0167%	1h	12.912	+0.002%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.909	−0.022%	$486K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.914	+0.013%	$158K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.965%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0060%	8h	12.912	0.000%	$116K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.912	+0.003%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.904	−0.062%	$940K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.925	+0.101%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.898	−0.106%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.912	−0.003%	$390K	$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	12.914	+0.014%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.902	−0.080%	$273K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.913	+0.008%	$119.4M	$297.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.910	−0.015%	$83.3M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.911	−0.007%	$27.2M	$81.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.915	+0.024%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.907	−0.038%	$127.5M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.912	0.000%	$32.1M	$56.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.914	+0.016%	$22.7M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.907	−0.038%	$53.7M	$29.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.912	0.000%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.923	+0.086%	$338K	$389K	15x	as long as short
Variational Omni LINKshort	+0.0100%	8h	12.878	−0.262%	$3.4M	$1.7M	—
edgeX LINKUSDC	+0.0100%	4h	12.875	−0.284%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.885	−0.208%	$580K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.880	−0.247%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.914	+0.016%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.907	−0.040%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.927	+0.113%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.912	0.000%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.894	−0.140%	$631K	$704K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.904	−0.061%	$628K	$2.1M	25x	as long as short
Aevo LINK-PERPlong	+0.0104%	1h	12.912	long leg	$541K	$2K	3x
Deribit LINK_USDC-PERPETUAL	+0.0168%	1h	12.914	+0.017%	$771K	$190K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.885	−0.209%	$5.2M	$15.6M	75x	as long as short
Hyperliquid LINK	+0.0365%	1h	12.926	+0.109%	$80.9M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0389%	1h	12.907	−0.041%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0396%	1h	12.914	+0.013%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0595%	1h	12.899	−0.099%	$342K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0597%	8h	12.929	+0.132%	$19.9M	$11.4M	50x	as long as short