Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0295%/8h= +32.3% APRpaid last 24h +0.079%

Price spread now: Reya against HTX+0.099%7-day average — · you sell dearer than you buy

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

Long on HTX 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

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Reya is 0.099% dearer against HTX than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX LINK-USDT	12.825	0.0100	pay 0.0100% / 8h	2h 33m	$629K	$678K	75x
Short	Reya LINKRUSDPERP	12.838	0.0395	get 0.0049% / 1h	33m 16s	$4K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against HTX. 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 HTXbpFee ReyabpOrdersPrice spread, now +0.099%Rate

Funding earned: $61.9
Price spread: +0.099% → 0.000%: $9.92
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $53.82
Costs to cover: 0.180%
Break-even: 0.9 days

Slippage unknown: HTX: live order book, 15 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 HTX live order book, 15 min ago	17.45 bp	29.8 bp −$30	95.1 bp −$951	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 −0.0089% / S +0.0166%	1h	12.840	+0.115%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.845	+0.154%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.838	+0.100%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.313%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0047%	8h	12.830	+0.040%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.887	+0.488%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.838	+0.104%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.833	+0.063%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.833	+0.067%	$342K	$341K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.841	+0.128%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.839	+0.113%	$273K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.846	+0.164%	$118.5M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.836	+0.087%	$82.8M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.838	+0.102%	$27.1M	$80.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.859	+0.266%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.836	+0.087%	$123.7M	$14.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.841	+0.126%	$33.0M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.839	+0.110%	$22.6M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.837	+0.094%	$53.6M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.839	+0.110%	—	$22.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.851	+0.204%	$335K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.873	+0.371%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.894	+0.538%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.880	+0.430%	$589K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.899	+0.578%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.844	+0.149%	$80K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.834	+0.073%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.852	+0.212%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.838	+0.102%	$10K	$64K	10x	as long as short
HTX LINK-USDTlong	+0.0100%	8h	12.825	long leg	$629K	$678K	75x
Extended LINK-USD	+0.0104%	1h	12.834	+0.069%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.837	+0.095%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.866	+0.320%	$915K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0186%	1h	12.845	+0.157%	$793K	$239K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.843	+0.141%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0228%	1h	12.852	+0.211%	$80.0M	$27.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0279%	1h	12.842	+0.131%	$6.6M	$8.3M	50x	as long as short
Reya LINKRUSDPERPshort	+0.0395%	1h	12.838	+0.099%	$4K	—	20x
Phemex LINKUSDT	+0.0594%	8h	12.854	+0.227%	$19.9M	$11.2M	50x	as long as short
dYdX LINK-USD	+0.0826%	1h	12.837	+0.098%	$342K	$33K	10x	as long as short