Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0314%/8h= −34.4% APRpaid last 24h −0.097%

Price spread now: Variational Omni against Reya+0.060%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.060% dearer against Reya than usual: you sell high and buy low (spread +0.060% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	12.963	0.0407	pay 0.0051% / 1h	54m 42s	$4K	—	20x
Short	Variational Omni LINK	12.971	0.0094	get 0.0094% / 8h	5h 54m	$3.4M	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Reya. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.060%Rate

Funding earned: −$65.93
Price spread: +0.060% → 0.000%: $5.98
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$65.95
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 2 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 Variational Omni RFQ quote, 2 min ago	3.12 bp	doesn't fit	10.0 bp −$100	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 39 exchanges

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
Orderly PERP_LINK_USDC	−0.0193%	8h	12.959	−0.034%	$85K	$876K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.965	+0.013%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.976	+0.094%	$489K	$2.1M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.986	+0.178%	$115K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	12.980	+0.129%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.346%	$4K	$48K	12x	as long as short
HTX LINK-USDT	+0.0089%	8h	12.929	−0.263%	$607K	$677K	75x	as long as short
Variational Omni LINKshort	+0.0094%	8h	12.971	+0.060%	$3.4M	$1.8M	—
Lighter LINK	+0.0096%	1h	12.961	−0.019%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.956	−0.054%	$31K	$600	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.966	+0.020%	$348K	$279K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.974	+0.081%	$81.6M	$25.2M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.967	+0.027%	$1.4M	$2.5M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.963	−0.005%	$275K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.961	−0.019%	$120.3M	$268.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.958	−0.042%	$83.8M	$66.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.959	−0.034%	$27.3M	$73.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.978	+0.112%	$183K	$83K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.959	−0.034%	$133.9M	$17.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.961	−0.019%	$35.6M	$54.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.963	−0.003%	$22.9M	$11.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.959	−0.034%	$54.3M	$26.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.961	−0.019%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.972	+0.066%	$335K	$352K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.985	+0.165%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.985	+0.163%	$582K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.998	+0.267%	$132K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.973	+0.074%	$83K	$64K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.983	+0.152%	$34K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.966	+0.020%	$11K	$61K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	12.954	−0.071%	$628K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.969	+0.046%	$544K	$2K	3x	as long as short
Kraken Futures PF_LINKUSD	+0.0173%	1h	12.969	+0.040%	$6.5M	$7.4M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0200%	1h	13.000	+0.282%	$977K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.966	+0.020%	$5.4M	$15.3M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0259%	1h	12.975	+0.087%	$889K	$355K	50x	as long as short
Reya LINKRUSDPERPlong	+0.0407%	1h	12.963	long leg	$4K	—	20x
Phemex LINKUSDT	+0.0434%	8h	12.981	+0.135%	$20.0M	$10.2M	50x	as long as short
dYdX LINK-USD	+0.0436%	1h	12.964	+0.005%	$349K	$46K	10x	as long as short