Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0292%/8h= −32.0% APRpaid last 24h −0.083%

Price spread now: Binance against Reya−0.149%45s7-day average — · you buy dearer than you sell

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

Long on Reya Short on Binance

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

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Binance is 0.149% cheaper against Reya than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	12.925	0.0392	pay 0.0049% / 1h	22m 41s	$4K	—	20x
Short	Binance LINKUSDT	12.906	0.0100	get 0.0100% / 8h	3h 22m	$119.8M	$299.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Reya. 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 ReyabpFee BinancebpOrdersPrice spread, now −0.149%Rate

Funding earned: −$61.42
Price spread: −0.149% → 0.000%: −$14.9
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$92.32
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Binance: live order book, 6 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 Reya no order-book sample	—	—	—	—	—
Sell Binance live order book, 6 min ago	0.39 bp	6.0 bp −$6	11.4 bp −$114	31.3 bp −$3,129	107.0 bp −$53.5K

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 −0.0089% / S +0.0166%	1h	12.929	+0.032%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.935	+0.079%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.931	+0.041%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.064%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0048%	8h	12.924	−0.010%	$116K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.946	+0.158%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.907	−0.145%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.901	−0.186%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.925	−0.006%	$390K	$306K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.908	−0.131%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.909	−0.123%	$275K	$181K	10x	as long as short
Binance LINKUSDTshort	+0.0100%	8h	12.906	−0.149%	$119.8M	$299.9M	75x
Bybit LINKUSDT	+0.0100%	8h	12.896	−0.226%	$83.4M	$72.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.901	−0.188%	$27.3M	$80.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.945	+0.153%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.919	−0.048%	$128.0M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.906	−0.149%	$32.5M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.916	−0.072%	$22.7M	$13.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.909	−0.126%	$53.8M	$29.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.917	−0.064%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.925	−0.002%	$340K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.938	+0.099%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.952	+0.205%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.938	+0.102%	$586K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.955	+0.230%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.932	+0.052%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.925	−0.003%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.940	+0.116%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.926	+0.006%	$9K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.918	−0.055%	$634K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.913	−0.091%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.927	+0.016%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.936	+0.083%	$920K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0145%	1h	12.932	+0.054%	$785K	$210K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.926	+0.006%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0245%	1h	12.930	+0.035%	$6.6M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0317%	1h	12.924	−0.010%	$80.7M	$27.4M	10x	as long as short
Reya LINKRUSDPERPlong	+0.0392%	1h	12.925	long leg	$4K	—	20x
Phemex LINKUSDT	+0.0548%	8h	12.940	+0.114%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0884%	1h	12.914	−0.090%	$343K	$31K	10x	as long as short