Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0288%/8h= +31.5% APRpaid last 24h +0.076%

Price spread now: Reya against SunX−0.138%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Reya

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

Funding pays, the price is against you. Reya is 0.138% cheaper against SunX than usual: you would sell low and buy high (spread −0.138% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 38 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	12.992	0.0100	pay 0.0100% / 8h	5h 08m	$33K	$1.5M	30x
Short	Reya LINKRUSDPERP	12.974	0.0388	get 0.0048% / 1h	8m 13s	$4K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against SunX. 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 SunXbpFee ReyabpOrdersPrice spread, now −0.138%Rate

Funding earned: $60.42
Price spread: −0.138% → 0.000%: −$13.75
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: $32.66
Costs to cover: 0.140%
Break-even: 3.2 days

Slippage unknown: SunX: live order book, 7 min ago; Reya: no order-book sample. 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 SunX live order book, 7 min ago	13.67 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

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 −0.0090% / S +0.0167%	1h	12.979	−0.100%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.991	−0.008%	$481K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.982	−0.081%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.557%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0063%	8h	12.979	−0.101%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.994	+0.015%	$964K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.978	−0.105%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.989	−0.021%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.982	−0.076%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.979	−0.103%	$393K	$311K	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	12.979	−0.103%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.979	−0.098%	$274K	$174K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.977	−0.115%	$120.0M	$296.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.974	−0.139%	$83.8M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.967	−0.193%	$27.4M	$82.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.992	−0.001%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.974	−0.139%	$128.2M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.977	−0.116%	$32.5M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.982	−0.078%	$22.9M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.979	−0.101%	$54.0M	$29.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.982	−0.078%	—	$22.4M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.986	−0.047%	$344K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	−0.024%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.993	+0.008%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.011	+0.143%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.017	+0.192%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.982	−0.078%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.977	−0.114%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	12.992	long leg	$33K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	12.977	−0.116%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.963	−0.222%	$639K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.975	−0.135%	$647K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.980	−0.093%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0143%	1h	12.984	−0.062%	$774K	$177K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.988	−0.032%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERPshort	+0.0388%	1h	12.974	−0.138%	$4K	—	20x
Kraken Futures PF_LINKUSD	+0.0555%	1h	12.982	−0.077%	$6.8M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0580%	1h	12.979	−0.098%	$344K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0613%	8h	12.995	+0.022%	$20.1M	$11.4M	50x	as long as short
Hyperliquid LINK	+0.0641%	1h	12.991	−0.008%	$81.7M	$27.3M	10x	as long as short