Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.015%

Price spread now: ApeX Omni against Variational Omni+0.161%7-day average +0.070% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.036%+$4 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.161%, 7d avg +0.070%

Together, before fees−0.043%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.091% dearer against Variational Omni than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LINK	12.954	0.0100	pay 0.0100% / 8h	4h 21m	$3.3M	$1.7M	—
Short	ApeX Omni LINKUSDT	12.975	0.0100	get 0.0013% / 1h	21m 09s	$133K	$673K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.161%Rate

Funding earned: $0
Price spread: +0.161% → +0.070%: $9.14
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$0.86
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; ApeX Omni: live order book, 37 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 Variational Omni RFQ quote, 3 min ago	3.13 bp	doesn't fit	9.5 bp −$95	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 37 min ago	3.87 bp	15.0 bp −$15	109.4 bp −$1,094	doesn't fit	doesn't fit

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	12.945	−0.072%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.955	+0.008%	$519K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.946	−0.066%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.277%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	12.944	−0.078%	$117K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.949	−0.039%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.949	−0.039%	$942K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.961	+0.052%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.949	−0.036%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.949	−0.036%	$391K	$310K	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	12.951	−0.020%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.956	+0.013%	$274K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.948	−0.044%	$119.8M	$297.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.946	−0.063%	$83.5M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.946	−0.063%	$27.3M	$81.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.962	+0.061%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.946	−0.063%	$128.0M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.948	−0.047%	$32.7M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.951	−0.024%	$22.7M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.948	−0.047%	$53.8M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.947	−0.055%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.954	−0.001%	$339K	$387K	15x	as long as short
Variational Omni LINKlong	+0.0100%	8h	12.954	long leg	$3.3M	$1.7M	—
edgeX LINKUSDC	+0.0100%	4h	12.960	+0.044%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.961	+0.053%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDTshort	+0.0100%	1h	12.975	+0.161%	$133K	$673K	50x
Polymarket Perps LINK-USD	+0.0100%	1h	12.953	−0.009%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.944	−0.081%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.966	+0.090%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.950	−0.032%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.946	−0.062%	$635K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.943	−0.085%	$632K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.948	−0.045%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0167%	1h	12.951	−0.022%	$779K	$202K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.949	−0.039%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0369%	1h	12.964	+0.076%	$81.2M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.946	−0.064%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.952	−0.019%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0416%	1h	12.956	+0.013%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0537%	8h	12.961	+0.053%	$20.0M	$11.4M	50x	as long as short