Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0296%/8h= −32.5% APRpaid last 24h −0.079%

Price spread now: BingX against Reya−0.023%7-day average — · you buy dearer than you sell

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

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and BingX is 0.023% cheaper against Reya than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	12.908	0.0396	pay 0.0050% / 1h	56m 05s	$4K	—	20x
Short	BingX LINK-USDT	12.905	0.0100	get 0.0100% / 8h	1h 56m	—	$23.3M	—

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 −0.023%Rate

Funding earned: −$62.26
Price spread: −0.023% → 0.000%: −$2.31
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$80.57
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; BingX: live order book, 13 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, 13 min ago	1.16 bp	6.5 bp −$6	9.1 bp −$91	19.8 bp −$1,983	47.5 bp −$23.8K

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
GMX LINK/USD [LINK-USDC]	L −0.0089% / S +0.0166%	1h	12.906	−0.012%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.914	+0.044%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.907	−0.006%	$156K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0016%	8h	12.899	−0.070%	$94K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.935%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.958	+0.389%	$3K	$81K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.905	−0.020%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.906	−0.016%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.901	−0.054%	$348K	$337K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.906	−0.015%	$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	12.908	+0.003%	$275K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.905	−0.026%	$119.0M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.900	−0.062%	$83.3M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.906	−0.015%	$27.0M	$81.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.928	+0.155%	$181K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.900	−0.062%	$124.1M	$15.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.906	−0.015%	$33.0M	$57.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.907	−0.008%	$22.8M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.906	−0.015%	$54.0M	$30.4M	75x	as long as short
BingX LINK-USDTshort	+0.0100%	8h	12.905	−0.023%	—	$23.3M	—
Variational Omni LINK	+0.0100%	8h	12.945	+0.288%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.938	+0.236%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.951	+0.329%	$579K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.954	+0.356%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.912	+0.031%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.902	−0.044%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.921	+0.098%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.905	−0.023%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.894	−0.111%	$632K	$786K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.903	−0.037%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.907	−0.004%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.914	+0.047%	$933K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0150%	1h	12.916	+0.062%	$337K	$389K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.908	+0.001%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.908	0.000%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0238%	1h	12.913	+0.041%	$805K	$254K	50x	as long as short
Hyperliquid LINK	+0.0271%	1h	12.921	+0.101%	$80.6M	$27.7M	10x	as long as short
Reya LINKRUSDPERPlong	+0.0396%	1h	12.908	long leg	$4K	—	20x
Phemex LINKUSDT	+0.0576%	8h	12.925	+0.132%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0970%	1h	12.908	−0.001%	$344K	$33K	10x	as long as short