LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0212%/8h= +23.3% APRnext payment +$0.27 per $10,000 · paid last 24h +0.071%

Price spread now: Reya against Backpack−0.049%7-day average — · you buy dearer than you sell

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

Long on Backpack 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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.049% cheaper against Backpack than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 18 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LINK_USDC_PERP	13.194	0.0170	pay 0.0021% / 1h	8m 42s	$365K	$361K	15x
Short	Reya LINKRUSDPERP	13.188	0.0382	get 0.0048% / 1h	8m 42s	$5K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Backpack. 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 BackpackbpFee ReyabpOrdersPrice spread, now −0.049%Rate

Funding earned: $44.62
Price spread: −0.049% → 0.000%: −$4.86
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $23.76
Costs to cover: 0.160%
Break-even: 3.3 days

Slippage unknown: Backpack: live order book, 65 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 Backpack live order book, 65 min ago	0.38 bp	7.0 bp −$7	doesn't fit	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	13.188	−0.043%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.201	+0.056%	$465K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.189	−0.037%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.018%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.187	−0.056%	$4K	$89K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0038%	1h	13.194	+0.002%	$784K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0070%	8h	13.186	−0.061%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.178	−0.123%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.228	+0.256%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.190	−0.027%	$404K	$307K	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	13.190	−0.032%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.179	−0.116%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.175	−0.147%	$122.3M	$298.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.170	−0.182%	$84.9M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.169	−0.189%	$27.6M	$83.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.194	0.000%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.184	−0.076%	$130.5M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.174	−0.152%	$36.6M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.177	−0.129%	$23.0M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.173	−0.159%	$54.6M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.173	−0.159%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.169	−0.187%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.174	−0.154%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	−0.077%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.180	−0.106%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.198	+0.030%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.186	−0.058%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.210	+0.118%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.186	−0.061%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.182	−0.093%	$649K	$867K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.180	−0.110%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.191	−0.023%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.203	+0.068%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERPlong	+0.0170%	1h	13.194	long leg	$365K	$361K	15x
BloFin LINK-USDT	+0.0220%	8h	13.170	−0.182%	$5.2M	$15.5M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.193	−0.011%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERPshort	+0.0382%	1h	13.188	−0.049%	$5K	—	20x
dYdX LINK-USD	+0.0425%	1h	13.176	−0.136%	$349K	$48K	10x	as long as short
Phemex LINKUSDT	+0.0470%	8h	13.201	+0.053%	$20.4M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0550%	1h	13.202	+0.061%	$81.5M	$25.0M	10x	as long as short