Funding arb · Price arb /

LINK

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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: Gate against Reya+0.035%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Gate

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

The price spread pays, funding is against you. Gate is 0.035% dearer against Reya than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	12.825	0.0401	pay 0.0050% / 1h	21m 01s	$4K	—	20x
Short	Gate LINK_USDT	12.830	0.0100	get 0.0100% / 8h	21m 01s	$132.0M	$17.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.035%Rate

Funding earned: −$63.17
Price spread: +0.035% → 0.000%: $3.51
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$80.66
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Gate: live order book, 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 Reya no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	0.39 bp	14.0 bp −$14	20.5 bp −$205	32.0 bp −$3,196	72.2 bp −$36.1K

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	+0.049%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0083%	8h	12.825	−0.004%	$90K	$1.0M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.838	+0.100%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.832	+0.048%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.318%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.842	+0.133%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.831	+0.043%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.835	+0.074%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.832	+0.055%	$345K	$342K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.840	+0.113%	$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	12.834	+0.065%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.836	+0.085%	$273K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.832	+0.051%	$118.7M	$299.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.824	−0.012%	$82.9M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.831	+0.043%	$27.0M	$79.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.853	+0.214%	$180K	$99K	10x	as long as short
Gate LINK_USDTshort	+0.0100%	8h	12.830	+0.035%	$132.0M	$17.7M	75x
MEXC LINK_USDT	+0.0100%	8h	12.832	+0.051%	$34.4M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.834	+0.066%	$22.8M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.830	+0.035%	$53.6M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.830	+0.035%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.837	+0.090%	$333K	$386K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.835	+0.075%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.838	+0.099%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.839	+0.107%	$574K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.845	+0.152%	$131K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.837	+0.090%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.833	+0.060%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.849	+0.184%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.831	+0.043%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.821	−0.035%	$626K	$776K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0103%	1h	12.833	+0.060%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.824	−0.011%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.836	+0.085%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.842	+0.129%	$929K	$2.9M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.838	+0.098%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0241%	1h	12.838	+0.096%	$803K	$268K	50x	as long as short
Reya LINKRUSDPERPlong	+0.0401%	1h	12.825	long leg	$4K	—	20x
Phemex LINKUSDT	+0.0550%	8h	12.846	+0.160%	$19.8M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0614%	1h	12.840	+0.114%	$342K	$45K	10x	as long as short