Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0288%/8h= −31.5% APRpaid last 24h −0.076%

Price spread now: HTX against Reya−0.145%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 HTX

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 HTX is 0.145% cheaper against Reya than usual: you would sell low and buy high (−$14 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	12.931	0.0388	pay 0.0048% / 1h	3m 49s	$4K	—	20x
Short	HTX LINK-USDT	12.912	0.0100	get 0.0100% / 8h	5h 03m	$632K	$705K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.145%Rate

Funding earned: −$60.45
Price spread: −0.145% → 0.000%: −$14.45
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$92.91
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; HTX: live order book, 60 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 HTX live order book, 60 min ago	23.83 bp	30.4 bp −$30	197.0 bp −$1,970	doesn't fit	doesn't fit

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 −0.0090% / S +0.0167%	1h	12.935	+0.034%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.946	+0.115%	$481K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.934	+0.026%	$158K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.107%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0063%	8h	12.933	+0.015%	$117K	$1.4M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.931	−0.001%	$941K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.918	−0.104%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.989	+0.451%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.944	+0.100%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.935	+0.034%	$391K	$311K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.940	+0.069%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.948	+0.134%	$273K	$174K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.918	−0.101%	$119.5M	$296.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.921	−0.078%	$83.4M	$71.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.916	−0.117%	$27.3M	$82.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.956	+0.193%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.936	+0.038%	$127.8M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.932	+0.007%	$32.2M	$57.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.938	+0.053%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.914	−0.132%	$53.7M	$29.8M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.921	−0.078%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.940	+0.069%	$341K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.930	−0.009%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.960	+0.225%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.980	+0.378%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.985	+0.417%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.941	+0.077%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.932	+0.008%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.951	+0.156%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.935	+0.030%	$11K	$63K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	12.912	−0.145%	$632K	$705K	75x
Extended LINK-USD	+0.0104%	1h	12.926	−0.038%	$644K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.936	+0.040%	$542K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0152%	1h	12.938	+0.057%	$771K	$177K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.937	+0.046%	$5.2M	$15.7M	75x	as long as short
Reya LINKRUSDPERPlong	+0.0388%	1h	12.931	long leg	$4K	—	20x
Kraken Futures PF_LINKUSD	+0.0557%	1h	12.937	+0.047%	$6.7M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0609%	8h	12.951	+0.154%	$20.0M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0617%	1h	12.932	+0.007%	$81.4M	$27.3M	10x	as long as short
dYdX LINK-USD	+0.0659%	1h	12.943	+0.092%	$343K	$30K	10x	as long as short