Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: Variational Omni against BingX−0.093%7-day average −0.004% · you buy dearer than you sell

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

Long on BingX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.032%−$3 on $10k

Price spread, last 7 days+0.085%+$8 · spread now −0.093%, 7d avg −0.004%

Together, before fees+0.053%+ Points / potential airdropVariational Omni: Active · farm board+$5 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 0.089% cheaper against BingX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LINK-USDC	13.243	0.0100	pay 0.0100% / 8h	52m 28s	—	$6.6M	—
Short	Variational Omni LINK	13.231	0.0100	get 0.0100% / 8h	52m 28s	$3.4M	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against BingX. 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 BingXbpFee Variational OmnibpOrdersPrice spread, now −0.093%Rate

Funding earned: $0
Price spread: −0.093% → −0.004%: −$8.88
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$18.88
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 10 min ago; Variational Omni: RFQ quote, 2 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 BingX live order book, 10 min ago	0.76 bp	9.1 bp −$9	21.4 bp −$214	83.0 bp −$8,301	465.1 bp −$232.6K
Sell Variational Omni RFQ quote, 2 min ago	3.13 bp	doesn't fit	8.1 bp −$81	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	13.259	+0.121%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.255	+0.090%	$476K	$2.4M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.259	+0.121%	$135K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.224	−0.144%	$4K	$84K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0014%	1h	13.263	+0.150%	$727K	$128K	50x	as long as short
dYdX LINK-USD	+0.0033%	1h	13.248	+0.037%	$351K	$48K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.366%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.258	+0.113%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.239	−0.032%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.240	−0.025%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.244	+0.011%	$406K	$314K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.244	+0.006%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.244	+0.011%	$278K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.241	−0.015%	$123.3M	$303.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.238	−0.038%	$85.5M	$70.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.242	−0.008%	$27.9M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.259	+0.121%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.248	+0.038%	$131.3M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.242	−0.008%	$37.0M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.250	+0.053%	$22.6M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.240	−0.023%	$55.1M	$30.6M	75x	as long as short
BingX LINK-USDClong	+0.0100%	8h	13.243	long leg	—	$6.6M	—
Variational Omni LINKshort	+0.0100%	8h	13.231	−0.093%	$3.4M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	13.250	+0.053%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.248	+0.038%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.228	−0.113%	$154K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.245	+0.015%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.254	+0.084%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.276	+0.246%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.260	+0.128%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.229	−0.106%	$651K	$892K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.239	−0.031%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.260	+0.126%	$556K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.251	+0.060%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.249	+0.045%	$5.3M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0301%	1h	13.263	+0.151%	$78.4M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.240	−0.024%	$5K	—	20x	as long as short
Backpack LINK_USDC_PERP	+0.0392%	1h	13.270	+0.204%	$366K	$381K	15x	as long as short
Phemex LINKUSDT	+0.0468%	8h	13.274	+0.234%	$20.6M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0473%	1h	13.269	+0.196%	$7.0M	$8.2M	50x	as long as short