Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0311%/8h= −34.0% APRpaid last 24h −0.089%

Price spread now: Binance against Reya+0.042%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Binance is 0.042% dearer against Reya than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	12.911	0.0411	pay 0.0051% / 1h	47m 24s	$4K	—	20x
Short	Binance LINKUSDT	12.916	0.0100	get 0.0100% / 8h	4h 47m	$120.1M	$264.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Reya. 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 ReyabpFee BinancebpOrdersPrice spread, now +0.042%Rate

Funding earned: −$65.23
Price spread: +0.042% → 0.000%: $4.23
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$77
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Binance: live order book, 4 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 Reya no order-book sample	—	—	—	—	—
Sell Binance live order book, 4 min ago	0.39 bp	6.4 bp −$6	12.7 bp −$127	33.7 bp −$3,374	104.4 bp −$52.2K

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 exchanges

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
Orderly PERP_LINK_USDC	−0.0250%	8h	12.907	−0.027%	$84K	$771K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.913	+0.016%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.886	−0.192%	$478K	$2.0M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.913	+0.016%	$115K	—	150x	as long as short
Phoenix LINK	+0.0025%	1h	12.891	−0.151%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.954%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0067%	8h	12.873	−0.290%	$3.3M	$1.7M	—	as long as short
Lighter LINK	+0.0096%	1h	12.904	−0.054%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	12.908	−0.017%	$31K	$600	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.909	−0.012%	$346K	$273K	10x	as long as short

Show all 40 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.920	+0.072%	$81.3M	$25.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.923	+0.095%	$1.2M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.902	−0.063%	$274K	$150K	10x	as long as short
Binance LINKUSDTshort	+0.0100%	8h	12.916	+0.042%	$120.1M	$264.1M	75x
Bybit LINKUSDT	+0.0100%	8h	12.908	−0.020%	$83.9M	$66.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.914	+0.027%	$27.4M	$72.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.927	+0.127%	$181K	$84K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.914	+0.027%	$133.2M	$17.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.922	+0.089%	$35.9M	$53.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.919	+0.066%	$23.2M	$11.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.910	−0.004%	$54.0M	$25.7M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.913	+0.019%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.904	−0.051%	$324K	$351K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.866	−0.342%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.858	−0.405%	$578K	$3.2M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.868	−0.329%	$104K	$686K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.918	+0.058%	$82K	$57K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.896	−0.116%	$16K	$18K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.906	−0.034%	$33K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.898	−0.097%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.875	−0.278%	$611K	$700K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.906	−0.034%	$622K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.928	+0.136%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.862	−0.376%	$980K	$3.0M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0215%	1h	12.900	−0.078%	$6.6M	$7.5M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.846	−0.500%	$5.4M	$15.0M	75x	as long as short
Phemex LINKUSDT	+0.0393%	8h	12.912	+0.011%	$20.0M	$10.1M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0394%	1h	12.906	−0.031%	$895K	$369K	50x	as long as short
Reya LINKRUSDPERPlong	+0.0411%	1h	12.911	long leg	$4K	—	20x
dYdX LINK-USD	+0.0949%	1h	12.900	−0.083%	$347K	$20K	10x	as long as short