Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h −0.011%

Price spread now: Deribit against Variational Omni+0.024%7-day average +0.027% · you sell dearer than you buy

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.075%−$8 on $10k

Price spread, last 4 days (all we have)+0.162%+$16 · spread now +0.024%, 7d avg +0.027%

Together, before fees+0.087%+ Points / potential airdropVariational Omni: Active · farm board+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.075%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LINK	13.005	0.0100	pay 0.0100% / 8h	3h 54m	$3.3M	$1.7M	—
Short	Deribit LINK_USDC-PERPETUAL	13.008	0.0111	get 0.0014% / 1h	54m 16s	$782K	$202K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. 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 Variational OmnibpFee DeribitbpOrdersPrice spread, now +0.024%Rate

Funding earned: $2.31
Price spread: +0.024% → +0.027%: −$0.31
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$5
Costs to cover: 0.070%
Break-even: 22.1 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Deribit: live order book, 65 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, 5 min ago	3.12 bp	doesn't fit	7.8 bp −$78	doesn't fit	doesn't fit
Sell Deribit live order book, 65 min ago	4.64 bp	8.1 bp −$8	doesn't fit	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 −0.0089% / S +0.0166%	1h	13.008	+0.025%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.031	+0.197%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.010	+0.034%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.654%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	13.004	−0.009%	$117K	$1.2M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.001	−0.030%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0099%	1h	12.981	−0.189%	$3K	$82K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.034	+0.218%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.017	+0.091%	$393K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.035	+0.231%	$1.3M	$2.4M	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	13.041	+0.275%	$276K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.010	+0.033%	$121.0M	$299.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.002	−0.025%	$84.0M	$72.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.006	+0.006%	$27.5M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.046	+0.314%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.024	+0.144%	$129.2M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.013	+0.060%	$33.0M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.030	+0.191%	$22.8M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.006	+0.006%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.012	+0.052%	—	$22.5M	—	as long as short
Variational Omni LINKlong	+0.0100%	8h	13.005	long leg	$3.3M	$1.7M	—
edgeX LINKUSDC	+0.0100%	4h	12.997	−0.066%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.999	−0.048%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.012	+0.052%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.028	+0.175%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.003	−0.018%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.017	+0.091%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.004	−0.009%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.991	−0.108%	$637K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.998	−0.052%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.008	+0.020%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.038	+0.252%	$945K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUALshort	+0.0111%	1h	13.008	+0.024%	$782K	$202K	50x
BloFin LINK-USDT	+0.0220%	8h	13.036	+0.237%	$5.3M	$15.8M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0223%	1h	13.053	+0.367%	$342K	$388K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.004	−0.009%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0249%	1h	13.034	+0.219%	$345K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	13.009	+0.029%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0404%	1h	13.028	+0.175%	$81.6M	$27.4M	10x	as long as short
Phemex LINKUSDT	+0.0522%	8h	13.016	+0.083%	$20.1M	$11.3M	50x	as long as short