Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0301%/8h= +32.9% APRpaid last 24h +0.090%

Price spread now: Reya against Gate−0.023%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.023% cheaper against Gate than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 6 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	Gate LINK_USDT	12.841	0.0100	pay 0.0100% / 8h	20m 19s	$132.1M	$17.7M	75x
Short	Reya LINKRUSDPERP	12.838	0.0401	get 0.0050% / 1h	20m 19s	$4K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Gate. 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 GatebpFee ReyabpOrdersPrice spread, now −0.023%Rate

Funding earned: $63.18
Price spread: −0.023% → 0.000%: −$2.34
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: $39.84
Costs to cover: 0.210%
Break-even: 2.6 days

Slippage unknown: Gate: live order book, 4 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 Gate live order book, 4 min ago	0.39 bp	10.0 bp −$10	16.5 bp −$165	34.0 bp −$3,401	78.6 bp −$39.3K
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	12.832	−0.072%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0084%	8h	12.834	−0.055%	$90K	$1.0M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.838	−0.021%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.832	−0.072%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.434%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.842	+0.012%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.834	−0.051%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.838	−0.021%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.830	−0.086%	$345K	$342K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.852	+0.086%	$80.2M	$28.1M	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	12.844	+0.026%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.836	−0.036%	$273K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.845	+0.031%	$118.8M	$299.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.836	−0.039%	$83.0M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.843	+0.016%	$27.0M	$79.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.856	+0.117%	$180K	$99K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	12.841	long leg	$132.1M	$17.7M	75x
MEXC LINK_USDT	+0.0100%	8h	12.844	+0.023%	$34.5M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.844	+0.023%	$22.6M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.840	−0.008%	$53.6M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.841	0.000%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.837	−0.031%	$333K	$386K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.823	−0.138%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.838	−0.022%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.839	−0.014%	$574K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.845	+0.031%	$131K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.845	+0.031%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.833	−0.061%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.849	+0.063%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.831	−0.078%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.821	−0.156%	$626K	$776K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0103%	1h	12.833	−0.061%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.833	−0.062%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.846	+0.039%	$539K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.842	+0.008%	$929K	$2.9M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.838	−0.023%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0241%	1h	12.838	−0.025%	$803K	$268K	50x	as long as short
Reya LINKRUSDPERPshort	+0.0401%	1h	12.838	−0.023%	$4K	—	20x
Phemex LINKUSDT	+0.0550%	8h	12.846	+0.039%	$19.8M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0636%	1h	12.833	−0.060%	$342K	$45K	10x	as long as short