Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Variational Omni against OKX−0.009%7-day average −0.005% · you buy dearer than you sell

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.019%−$2 on $10k

Price spread, last 7 days−0.005%−$1 · spread now −0.009%, 7d avg −0.005%

Together, before fees−0.024%+ Points / potential airdropVariational Omni: Active · farm board−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LINK-USDT-SWAP	13.117	0.0100	pay 0.0100% / 8h	1h 27m	$27.6M	$85.7M	50x
Short	Variational Omni LINK	13.116	0.0100	get 0.0100% / 8h	1h 27m	$3.3M	$1.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. 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 OKXbpFee Variational OmnibpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → −0.005%: −$0.41
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$10.41
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 min ago; Variational Omni: RFQ quote, 1 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 OKX live order book, 1 min ago	0.38 bp	6.4 bp −$6	14.0 bp −$140	28.2 bp −$2,822	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	3.13 bp	doesn't fit	9.6 bp −$96	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	13.121	+0.028%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.143	+0.199%	$348K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.119	+0.015%	$460K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.121	+0.029%	$716K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.123	+0.043%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.466%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.111	−0.046%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.117	0.000%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.117	−0.003%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.141	+0.181%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.128	+0.088%	$401K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.123	+0.046%	$77.3M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.112	−0.037%	$1.5M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.144	+0.207%	$275K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.116	−0.008%	$121.7M	$302.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.118	+0.008%	$84.6M	$70.2M	75x	as long as short
OKX LINK-USDT-SWAPlong	+0.0100%	8h	13.117	long leg	$27.6M	$85.7M	50x
Arcus LINK-USD	+0.0100%	1h	13.150	+0.252%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.114	−0.023%	$130.1M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.110	−0.053%	$36.3M	$56.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.113	−0.030%	$22.4M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.116	−0.008%	$54.7M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.115	−0.015%	—	$21.5M	—	as long as short
Variational Omni LINKshort	+0.0100%	8h	13.116	−0.009%	$3.3M	$1.5M	—
edgeX LINKUSDC	+0.0100%	4h	13.147	+0.228%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.102	−0.114%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.154	+0.282%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.135	+0.137%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.114	−0.022%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.153	+0.271%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.113	−0.030%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.079	−0.293%	$643K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.108	−0.068%	$675K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.119	+0.014%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.127	+0.076%	$989K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0180%	1h	13.119	+0.015%	$363K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.131	+0.107%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.123	+0.049%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0471%	8h	13.130	+0.099%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0697%	1h	13.118	+0.011%	$6.9M	$8.1M	50x	as long as short