Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0299%/8h= +32.7% APRpaid last 24h +0.079%

Price spread now: Reya against Aster−0.077%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.077% cheaper against Aster than usual: you would sell low and buy high (spread −0.077% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 21 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster LINKUSDT	12.950	0.0100	pay 0.0100% / 8h	1h 05m	$1.3M	$2.4M	50x
Short	Reya LINKRUSDPERP	12.940	0.0399	get 0.0050% / 1h	5m 22s	$4K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Aster. 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 AsterbpFee ReyabpOrdersPrice spread, now −0.077%Rate

Funding earned: $62.75
Price spread: −0.077% → 0.000%: −$7.67
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $41.08
Costs to cover: 0.140%
Break-even: 2.4 days

Slippage unknown: Aster: live order book, 3 min ago; Reya: 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 Aster live order book, 3 min ago	1.16 bp	8.5 bp −$9	18.7 bp −$187	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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]	L −0.0087% / S +0.0165%	1h	12.945	−0.042%	$1.8M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0037%	8h	12.940	−0.080%	$93K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.974	+0.183%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.945	−0.039%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.250%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.972	+0.166%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.951	+0.005%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.948	−0.022%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.949	−0.007%	$355K	$340K	10x	as long as short
Aster LINKUSDTlong	+0.0100%	8h	12.950	long leg	$1.3M	$2.4M	50x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.950	−0.006%	$275K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.943	−0.057%	$119.5M	$299.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.939	−0.088%	$83.6M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.941	−0.073%	$27.1M	$80.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.963	+0.097%	$181K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.948	−0.019%	$134.9M	$17.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.944	−0.050%	$34.4M	$59.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.949	−0.011%	$22.9M	$12.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.939	−0.088%	$54.1M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.942	−0.065%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.954	+0.029%	$3.3M	$1.9M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.953	+0.017%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.952	+0.014%	$584K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.962	+0.089%	$133K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.947	−0.026%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.966	+0.123%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.985	+0.264%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.956	+0.043%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.944	−0.046%	$632K	$784K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.939	−0.086%	$634K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.943	−0.057%	$543K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0108%	1h	12.965	+0.113%	$337K	$387K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.963	+0.097%	$933K	$2.8M	50x	as long as short
Hyperliquid LINK	+0.0152%	1h	12.953	+0.020%	$81.0M	$28.0M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0192%	1h	12.956	+0.041%	$6.6M	$8.4M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.964	+0.105%	$5.2M	$15.9M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0229%	1h	12.961	+0.082%	$810K	$268K	50x	as long as short
Reya LINKRUSDPERPshort	+0.0399%	1h	12.940	−0.077%	$4K	—	20x
dYdX LINK-USD	+0.0547%	1h	12.957	+0.049%	$345K	$45K	10x	as long as short
Phemex LINKUSDT	+0.0549%	8h	12.972	+0.167%	$20.0M	$11.3M	50x	as long as short