Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0174%/8hnext payment −$1.74 per $10,000 · paid last 24h −0.015%

Price spread now: Variational Omni against MEXC+0.111%7-day average −0.014% · you sell dearer than you buy

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

Long on MEXC Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.026%−$3 on $10k

Price spread, last 7 days−0.133%−$13 · spread now +0.111%, 7d avg −0.014%

Together, before fees−0.159%+ Points / potential airdropVariational Omni: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.125% dearer against MEXC than usual: you sell high and buy low (spread +0.111% now, against its 7-day average of −0.014%): +$12 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.4 days. At the pace of the last 3 days (−0.026% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LINK_USDT	12.994	0.0100	pay 0.0100% / 8h	4h 05m	$34.9M	$56.6M	300x
Short	Variational Omni LINK	13.008	−0.0074	pay 0.0074% / 8h	4h 05m	$3.2M	$1.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against MEXC. 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 MEXCbpFee Variational OmnibpOrdersPrice spread, now +0.111%Rate

Funding earned: −$36.47
Price spread: +0.111% → −0.014%: $12.5
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$23.98
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: MEXC: live order book, 3 min ago; Variational Omni: RFQ quote, 3 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 MEXC live order book, 3 min ago	0.38 bp	0.6 bp −$1	3.7 bp −$37	23.3 bp −$2,334	43.9 bp −$22.0K
Sell Variational Omni RFQ quote, 3 min ago	3.11 bp	doesn't fit	7.3 bp −$73	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 −0.0091% / S +0.0165%	1h	13.004	+0.075%	$1.7M	—	200x	as long as short
Variational Omni LINKshort	−0.0074%	8h	13.008	+0.111%	$3.2M	$1.2M	—
Phoenix LINK	−0.0019%	1h	13.003	+0.068%	$9K	$78K	10x	as long as short
dYdX LINK-USD	0.0000%	1h	13.005	+0.088%	$344K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.013	+0.145%	$473K	$2.2M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.003	+0.067%	$690K	$107K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	13.005	+0.085%	$118K	—	150x	as long as short
Coinbase International LINK-PERP-INTX	+0.0008%	1h	13.016	+0.169%	$990K	$2.7M	50x	as long as short
Bybit LINKUSDT	+0.0015%	8h	12.993	−0.008%	$83.4M	$65.0M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0018%	1h	13.002	+0.062%	$6.1M	$6.3M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.571%	$4K	$48K	12x	as long as short
OKX LINK-USDT-SWAP	+0.0036%	8h	12.992	−0.015%	$27.0M	$81.2M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0066%	8h	13.005	+0.085%	$150K	$1.6M	20x	as long as short
HTX LINK-USDT	+0.0092%	8h	12.956	−0.292%	$629K	$887K	75x	as long as short
Lighter LINK	+0.0096%	1h	13.000	+0.046%	$2.0M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	12.994	−0.001%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.010	+0.123%	$391K	$291K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.008	+0.108%	$76.0M	$21.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.002	+0.062%	$1.4M	$2.5M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.998	+0.030%	$272K	$162K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.994	0.000%	$119.1M	$289.9M	75x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.013	+0.146%	$196K	$153K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.994	0.000%	$130.1M	$12.2M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	12.994	long leg	$34.9M	$56.6M	300x
KuCoin LINKUSDTM	+0.0100%	8h	12.999	+0.038%	$21.2M	$15.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.987	−0.054%	$53.9M	$29.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.994	0.000%	—	$21.4M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.009	+0.115%	$353K	$361K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.011	+0.131%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.008	+0.109%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.009	+0.115%	$132K	$649K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.997	+0.023%	$78K	$58K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.998	+0.027%	$24K	$13K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.011	+0.134%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.997	+0.023%	$5K	$39K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	12.992	−0.018%	$635K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.006	+0.090%	$547K	$340	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.010	+0.123%	$5.2M	$13.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0369%	1h	12.988	−0.046%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0475%	8h	13.018	+0.185%	$20.2M	$11.3M	50x	as long as short