Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0280%/8h= −30.7% APRpaid last 24h −0.074%

Price spread now: BingX against Reya+0.110%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 BingX

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

The price spread pays, funding is against you. BingX is 0.110% dearer against Reya than usual: you sell high and buy low (spread +0.110% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	13.146	0.0380	pay 0.0048% / 1h	55m 32s	$5K	—	20x
Short	BingX LINK-USDT	13.160	0.0100	get 0.0100% / 8h	7h 55m	—	$21.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$58.81
Price spread: +0.110% → 0.000%: $11.03
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$63.78
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; BingX: live order book, 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 Reya no order-book sample	—	—	—	—	—
Sell BingX live order book, 3 min ago	1.52 bp	6.5 bp −$7	7.4 bp −$74	22.0 bp −$2,195	49.6 bp −$24.8K

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
Gate LINK_USDT	−0.0111%	8h	13.154	+0.065%	$130.4M	$12.1M	75x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0167%	1h	13.171	+0.195%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.164	+0.141%	$481K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.181	+0.269%	$743K	$152K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.173	+0.207%	$134K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.172	+0.203%	$4K	$89K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.671%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.176	+0.232%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.163	+0.130%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.153	+0.057%	$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	13.154	+0.065%	$402K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.158	+0.094%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.162	+0.124%	$277K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.154	+0.063%	$122.2M	$306.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.152	+0.049%	$85.0M	$71.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.151	+0.042%	$27.9M	$86.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.172	+0.202%	$185K	$172K	10x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.160	+0.110%	$36.6M	$57.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.158	+0.095%	$22.8M	$14.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.151	+0.042%	$54.7M	$30.7M	75x	as long as short
BingX LINK-USDTshort	+0.0100%	8h	13.160	+0.110%	—	$21.4M	—
Variational Omni LINK	+0.0100%	8h	13.175	+0.222%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.166	+0.158%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.169	+0.179%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.169	+0.179%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.155	+0.072%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.175	+0.222%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.194	+0.367%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.181	+0.270%	$5K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.168	+0.169%	$648K	$875K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.157	+0.086%	$740K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.182	+0.278%	$553K	$2K	3x	as long as short
Phemex LINKUSDT	+0.0105%	8h	13.193	+0.361%	$20.4M	$11.6M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.179	+0.255%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.192	+0.354%	$5.2M	$16.7M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0305%	1h	13.197	+0.392%	$364K	$373K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.191	+0.347%	$6.9M	$8.3M	50x	as long as short
Reya LINKRUSDPERPlong	+0.0380%	1h	13.146	long leg	$5K	—	20x
dYdX LINK-USD	+0.0419%	1h	13.157	+0.084%	$348K	$48K	10x	as long as short
Hyperliquid LINK	+0.0438%	1h	13.185	+0.300%	$79.2M	$24.6M	10x	as long as short