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 −0.013%

Price spread now: Variational Omni against Paradex+0.261%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Variational Omni

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 airdropParadex: Active · Variational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.261% dearer against Paradex than usual: you sell high and buy low, +$26 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex LINK-USD-PERP	13.121	0.0100	pay 0.0100% / 8h	2h 05m	$32K	$3K	20x
Short	Variational Omni LINK	13.155	0.0100	get 0.0100% / 8h	2h 05m	$3.3M	$1.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Paradex. 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 ParadexbpFee Variational OmnibpOrdersPrice spread, now +0.261%Rate

Funding earned: $0.02
Price spread: +0.261% → 0.000%: $26.12
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $22.14
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Variational Omni: RFQ quote, 3 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 Paradex no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	3.12 bp	doesn't fit	10.4 bp −$104	doesn't fit	doesn't fit

Paradex: 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	13.121	+0.001%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.132	+0.085%	$469K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.130	+0.066%	$717K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.122	+0.008%	$133K	—	150x	as long as short
dYdX LINK-USD	+0.0013%	1h	13.124	+0.021%	$348K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.163	+0.323%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.494%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.123	+0.016%	$133K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.128	+0.057%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERPlong	+0.0100%	8h	13.121	long leg	$32K	$3K	20x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.121	+0.005%	$399K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.134	+0.100%	$77.3M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.127	+0.044%	$1.6M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.125	+0.034%	$275K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.124	+0.024%	$121.6M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.123	+0.016%	$84.5M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.124	+0.024%	$27.6M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.140	+0.146%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.121	+0.001%	$130.2M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.124	+0.024%	$36.6M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.127	+0.047%	$22.2M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.120	−0.007%	$54.3M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.124	+0.024%	—	$21.8M	—	as long as short
Variational Omni LINKshort	+0.0100%	8h	13.155	+0.261%	$3.3M	$1.5M	—
edgeX LINKUSDC	+0.0100%	4h	13.147	+0.197%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	+0.183%	$596K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.148	+0.207%	$153K	$666K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.124	+0.024%	$80K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.122	+0.012%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.139	+0.136%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.127	+0.047%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.121	+0.001%	$645K	$907K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.120	−0.004%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.129	+0.065%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.148	+0.207%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0110%	1h	13.135	+0.107%	$365K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.127	+0.047%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.120	−0.003%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0475%	8h	13.140	+0.146%	$20.3M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0505%	1h	13.136	+0.117%	$6.9M	$7.9M	50x	as long as short