Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.015%

Price spread now: Variational Omni against edgeX+0.154%74s7-day average −0.004% · you sell dearer than you buy

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

Long on edgeX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.032%−$3 on $10k

Price spread, last 4 days (all we have)−0.289%−$29 · spread now +0.154%, 7d avg −0.004%

Together, before fees−0.321%+ Points / potential airdropedgeX: Active · Variational Omni: Active · farm board−$32 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 0.158% dearer against edgeX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.004%. The two prices were read 74 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	edgeX LINKUSDC	13.024	0.0100	pay 0.0050% / 4h	2h 24m	$43K	$308K	20x
Short	Variational Omni LINK	13.044	0.0100	get 0.0100% / 8h	6h 24m	$3.4M	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against edgeX. 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 edgeXbpFee Variational OmnibpOrdersPrice spread, now +0.154%Rate

Funding earned: $0
Price spread: +0.154% → −0.004%: $15.8
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $6.8
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: edgeX: live order book, 44 min ago; Variational Omni: RFQ quote, 5 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 edgeX live order book, 44 min ago	2.65 bp	7.2 bp −$7	10.8 bp −$108	209.7 bp −$21.0K	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	3.12 bp	doesn't fit	9.3 bp −$93	doesn't fit	doesn't fit

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	13.027	+0.025%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.045	+0.158%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	13.030	+0.042%	$150K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.793%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.024	−0.002%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.028	+0.029%	$118K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.041	+0.129%	$957K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	13.035	+0.084%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.030	+0.048%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.032	+0.061%	$396K	$322K	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	+0.105%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.046	+0.164%	$276K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.036	+0.090%	$119.7M	$303.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.032	+0.059%	$84.1M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.038	+0.106%	$27.4M	$84.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.049	+0.190%	$183K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.032	+0.059%	$128.6M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.039	+0.113%	$33.2M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.034	+0.075%	$22.6M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.041	+0.129%	$54.2M	$31.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.032	+0.059%	—	$23.0M	—	as long as short
Variational Omni LINKshort	+0.0100%	8h	13.044	+0.154%	$3.4M	$1.6M	—
edgeX LINKUSDClong	+0.0100%	4h	13.024	long leg	$43K	$308K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.020	−0.029%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.992	−0.248%	$133K	$677K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.036	+0.090%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.026	+0.017%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.044	+0.151%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.033	+0.067%	$15K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.018	−0.045%	$642K	$859K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.030	+0.041%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.033	+0.065%	$547K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.053	+0.221%	$339K	$386K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0118%	1h	13.037	+0.099%	$774K	$212K	50x	as long as short
dYdX LINK-USD	+0.0263%	1h	13.048	+0.181%	$346K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	13.029	+0.040%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0446%	1h	13.048	+0.182%	$80.6M	$26.2M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0500%	1h	13.039	+0.114%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0610%	8h	13.047	+0.175%	$20.1M	$11.5M	50x	as long as short