Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0281%/8h= +30.8% APRpaid last 24h +0.090%

Price spread now: Reya against Variational Omni−0.239%7-day average — · you buy dearer than you sell

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

Long on Variational Omni 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 airdropVariational Omni: Active · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.239% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.239% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$24 on $10k: about 2.8 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LINK	13.213	0.0100	pay 0.0100% / 8h	7h 31m	$3.4M	$1.6M	—
Short	Reya LINKRUSDPERP	13.182	0.0381	get 0.0048% / 1h	31m 26s	$5K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.239%Rate

Funding earned: $59.04
Price spread: −0.239% → 0.000%: −$23.93
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $29.12
Costs to cover: 0.060%
Break-even: 3.5 days

Slippage unknown: Variational Omni: RFQ quote, 3 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 Variational Omni RFQ quote, 3 min ago	3.11 bp	doesn't fit	9.6 bp −$96	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 −0.0091% / S +0.0167%	1h	13.181	−0.247%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.186	−0.209%	$476K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.182	−0.235%	$134K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0031%	1h	13.190	−0.181%	$783K	$211K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.156%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.209	−0.037%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0050%	8h	13.175	−0.291%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.185	−0.212%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.191	−0.167%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.189	−0.181%	$405K	$309K	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	13.191	−0.173%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.192	−0.166%	$276K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.183	−0.234%	$122.6M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.175	−0.291%	$84.9M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.176	−0.283%	$27.7M	$84.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.203	−0.079%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.185	−0.215%	$130.5M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.186	−0.208%	$37.2M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.188	−0.193%	$23.0M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.190	−0.177%	$54.9M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.184	−0.223%	—	$21.0M	—	as long as short
Variational Omni LINKlong	+0.0100%	8h	13.213	long leg	$3.4M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	13.198	−0.120%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.195	−0.140%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.205	−0.064%	$154K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.189	−0.185%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.182	−0.239%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.195	−0.137%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.186	−0.208%	$5K	$28K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.169	−0.333%	$648K	$853K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.190	−0.179%	$670K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.186	−0.207%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.187	−0.200%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0191%	1h	13.196	−0.132%	$368K	$368K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.196	−0.132%	$5.3M	$16.0M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.195	−0.140%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERPshort	+0.0381%	1h	13.182	−0.239%	$5K	—	20x
dYdX LINK-USD	+0.0406%	1h	13.186	−0.207%	$349K	$48K	10x	as long as short
Phemex LINKUSDT	+0.0519%	8h	13.200	−0.102%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0590%	1h	13.202	−0.087%	$81.6M	$25.1M	10x	as long as short