Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0281%/8h= −30.8% APRpaid last 24h −0.074%

Price spread now: HTX against Reya−0.059%7-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 HTX

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 −$8 a day on $10k at the current rate, and HTX is 0.059% cheaper against Reya than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	13.192	0.0381	pay 0.0048% / 1h	24m 36s	$5K	—	20x
Short	HTX LINK-USDT	13.184	0.0100	get 0.0100% / 8h	7h 24m	$648K	$850K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$59.1
Price spread: −0.059% → 0.000%: −$5.94
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$83.04
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; HTX: live order book, 49 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 HTX live order book, 49 min ago	6.76 bp	29.0 bp −$29	190.5 bp −$1,905	doesn't fit	doesn't fit

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 −0.0091% / S +0.0167%	1h	13.199	+0.049%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.198	+0.043%	$474K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.198	+0.045%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.006%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.193	+0.005%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0059%	8h	13.201	+0.066%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.195	+0.019%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.234	+0.315%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.187	−0.037%	$405K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.205	+0.093%	$1.4M	$3.0M	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	13.199	+0.050%	$277K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.190	−0.018%	$122.5M	$301.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.191	−0.010%	$84.9M	$70.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.184	−0.063%	$27.6M	$84.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.207	+0.111%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.196	+0.028%	$130.7M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.194	+0.013%	$37.2M	$58.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.200	+0.058%	$23.1M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.198	+0.043%	$54.9M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.196	+0.028%	—	$20.9M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.187	−0.038%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.174	−0.137%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.173	−0.147%	$600K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.177	−0.116%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.196	+0.028%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.200	+0.061%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.199	+0.051%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.202	+0.073%	$5K	$28K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	13.184	−0.059%	$648K	$850K	75x
Extended LINK-USD	+0.0104%	1h	13.186	−0.048%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.203	+0.077%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.200	+0.058%	$1.0M	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0136%	1h	13.209	+0.123%	$784K	$211K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0191%	1h	13.209	+0.126%	$368K	$369K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.196	+0.028%	$5.3M	$16.0M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0363%	1h	13.211	+0.144%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERPlong	+0.0381%	1h	13.192	long leg	$5K	—	20x
dYdX LINK-USD	+0.0428%	1h	13.201	+0.069%	$350K	$48K	10x	as long as short
Phemex LINKUSDT	+0.0530%	8h	13.212	+0.149%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0574%	1h	13.217	+0.187%	$81.7M	$25.0M	10x	as long as short