Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0311%/8h= +34.1% APRpaid last 24h +0.040%

Price spread now: dYdX against Variational Omni+0.290%7-day average +0.009% · you sell dearer than you buy

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

Long on Variational Omni Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.203%+$20 on $10k

Price spread, last 4 days (all we have)−0.568%−$57 · spread now +0.290%, 7d avg +0.009%

Together, before fees−0.366%+ Points / potential airdropVariational Omni: Active · farm board−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and dYdX is 0.281% dearer against Variational Omni than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LINK	12.988	0.0100	pay 0.0100% / 8h	6h 02m	$3.4M	$1.6M	—
Short	dYdX LINK-USD	13.026	0.0411	get 0.0051% / 1h	2m 05s	$345K	$30K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.290%Rate

Funding earned: $65.34
Price spread: +0.290% → +0.009%: $28.11
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: $83.44
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; dYdX: live order book, 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 Variational Omni RFQ quote, 2 min ago	3.11 bp	doesn't fit	8.1 bp −$81	doesn't fit	doesn't fit
Sell dYdX live order book, 2 min ago	54.59 bp	59.6 bp −$60	144.0 bp −$1,440	199.1 bp −$19.9K	339.7 bp −$169.9K

LINK on 39 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	13.037	+0.373%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.033	+0.344%	$470K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.038	+0.383%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.529%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.036	+0.364%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.036	+0.368%	$118K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.042	+0.414%	$954K	$2.6M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.037	+0.379%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.027	+0.298%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.024	+0.279%	$396K	$318K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.038	+0.382%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.026	+0.290%	$276K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.039	+0.392%	$119.9M	$298.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.032	+0.337%	$84.3M	$71.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.036	+0.368%	$27.5M	$82.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.042	+0.414%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.038	+0.383%	$128.6M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.038	+0.383%	$33.2M	$59.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.043	+0.422%	$23.1M	$13.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.039	+0.391%	$54.2M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.037	+0.376%	—	$6.6M	—	as long as short
Variational Omni LINKlong	+0.0100%	8h	12.988	long leg	$3.4M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	12.974	−0.110%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.003	+0.114%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.976	−0.094%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.036	+0.368%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.036	+0.370%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.051	+0.480%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.039	+0.391%	$15K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.018	+0.231%	$642K	$689K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.033	+0.343%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.036	+0.370%	$547K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0145%	1h	13.046	+0.445%	$339K	$378K	15x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	13.031	+0.333%	$4K	—	20x	as long as short
dYdX LINK-USDshort	+0.0411%	1h	13.026	+0.290%	$345K	$30K	10x
Hyperliquid LINK	+0.0486%	1h	13.055	+0.514%	$81.4M	$26.4M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0500%	1h	13.041	+0.408%	$6.8M	$8.0M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0525%	1h	13.041	+0.409%	$775K	$212K	50x	as long as short
Phemex LINKUSDT	+0.0621%	8h	13.055	+0.514%	$20.1M	$11.5M	50x	as long as short