Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.021%

Price spread now: Variational Omni against Aevo−0.120%48s7-day average −0.031% · you buy dearer than you sell

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

Long on Aevo Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.044%−$4 on $10k

Price spread, last 3 days (all we have)−0.026%−$3 · spread now −0.120%, 7d avg −0.031%

Together, before fees−0.069%+ Points / potential airdropVariational Omni: Active · farm board−$7 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: Variational Omni is 0.090% cheaper against Aevo than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.031%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo LINK-PERP	13.247	0.0104	pay 0.0013% / 1h	50m 30s	$555K	$2K	3x
Short	Variational Omni LINK	13.231	0.0100	get 0.0100% / 8h	50m 30s	$3.4M	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aevo. 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 AevobpFee Variational OmnibpOrdersPrice spread, now −0.120%Rate

Funding earned: −$0.84
Price spread: −0.120% → −0.031%: −$8.98
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$25.82
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 29 min ago; Variational Omni: RFQ quote, 4 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 Aevo live order book, 29 min ago	21.65 bp	36.5 bp −$36	178.7 bp −$1,787	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.13 bp	doesn't fit	8.1 bp −$81	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	13.245	−0.014%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.252	+0.039%	$476K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.248	+0.014%	$726K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.246	−0.008%	$135K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.240	−0.051%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.391%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.243	−0.028%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.255	+0.064%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.257	+0.078%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.259	+0.093%	$406K	$313K	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	13.257	+0.075%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.258	+0.085%	$278K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.256	+0.067%	$123.5M	$303.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.249	+0.018%	$85.5M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.253	+0.048%	$28.0M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.266	+0.146%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.254	+0.055%	$131.3M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.252	+0.040%	$36.9M	$57.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.259	+0.093%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.252	+0.040%	$55.2M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.249	+0.018%	—	$6.6M	—	as long as short
Variational Omni LINKshort	+0.0100%	8h	13.231	−0.120%	$3.4M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	13.250	+0.025%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.248	+0.010%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.258	+0.086%	$154K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.257	+0.078%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.241	−0.044%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.258	+0.083%	$35K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.246	−0.005%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.212	−0.260%	$650K	$892K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.246	−0.005%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERPlong	+0.0104%	1h	13.247	long leg	$555K	$2K	3x
dYdX LINK-USD	+0.0125%	1h	13.257	+0.075%	$351K	$48K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.244	−0.020%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.240	−0.050%	$5.3M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0292%	1h	13.268	+0.161%	$78.5M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.248	+0.009%	$5K	—	20x	as long as short
Backpack LINK_USDC_PERP	+0.0380%	1h	13.252	+0.040%	$366K	$381K	15x	as long as short
Phemex LINKUSDT	+0.0470%	8h	13.261	+0.108%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0474%	1h	13.254	+0.055%	$7.0M	$8.2M	50x	as long as short