Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0336%/8h= +36.8% APRpaid last 24h +0.074%

Price spread now: Reya against Orderly−0.017%7-day average — · you buy dearer than you sell

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

Long on Orderly 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 airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_LINK_USDC	13.209	0.0041	pay 0.0041% / 8h	1h 03m	$134K	$1.5M	20x
Short	Reya LINKRUSDPERP	13.207	0.0377	get 0.0047% / 1h	3m 48s	$5K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Orderly. 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 OrderlybpFee ReyabpOrdersPrice spread, now −0.017%Rate

Funding earned: $70.56
Price spread: −0.017% → 0.000%: −$1.66
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Reya: 3 bp × 2 orders: −$6
Net: $56.9
Costs to cover: 0.120%
Break-even: 1.4 days

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Orderly and 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 −0.0090% / S +0.0167%	1h	13.209	−0.004%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.217	+0.058%	$499K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.213	+0.031%	$724K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.209	−0.003%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.125%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.192	−0.127%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDClong	+0.0041%	8h	13.209	long leg	$134K	$1.5M	20x
dYdX LINK-USD	+0.0050%	1h	13.215	+0.043%	$350K	$48K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.208	−0.007%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.207	−0.017%	$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	13.213	+0.030%	$404K	$313K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.228	+0.144%	$78.2M	$24.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.215	+0.049%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.216	+0.053%	$277K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.212	+0.026%	$122.9M	$303.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.211	+0.015%	$85.3M	$70.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.214	+0.038%	$27.9M	$86.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.222	+0.098%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.212	+0.023%	$130.9M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.213	+0.030%	$36.4M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.216	+0.053%	$22.7M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.213	+0.030%	$55.0M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.215	+0.045%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.189	−0.154%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.179	−0.227%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.189	−0.155%	$595K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.188	−0.159%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.211	+0.015%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.204	−0.040%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.223	+0.110%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.210	+0.008%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.196	−0.100%	$649K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.212	+0.022%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.211	+0.013%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.213	+0.030%	$995K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0220%	1h	13.221	+0.091%	$365K	$379K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.200	−0.068%	$5.2M	$17.2M	75x	as long as short
Reya LINKRUSDPERPshort	+0.0377%	1h	13.207	−0.017%	$5K	—	20x
Phemex LINKUSDT	+0.0463%	8h	13.225	+0.121%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0692%	1h	13.216	+0.055%	$7.0M	$8.1M	50x	as long as short