Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0308%/8h= −33.7% APRpaid last 24h −0.090%

Price spread now: OKX against Reya−0.015%147s7-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 OKX

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$9 a day on $10k at the current rate. The two prices were read 147 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	12.940	0.0408	pay 0.0051% / 1h	49m 03s	$4K	—	20x
Short	OKX LINK-USDT-SWAP	12.938	0.0100	get 0.0100% / 8h	5h 49m	$27.3M	$73.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$64.61
Price spread: −0.015% → 0.000%: −$1.5
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$82.12
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; OKX: 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 OKX live order book, 3 min ago	0.39 bp	6.1 bp −$6	11.8 bp −$118	30.7 bp −$3,067	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 39 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	−0.0200%	8h	12.932	−0.061%	$85K	$868K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.950	+0.077%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.950	+0.077%	$488K	$2.0M	3.7x	as long as short
Phoenix LINK	0.0000%	1h	12.948	+0.062%	$3K	$81K	10x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.957	+0.136%	$115K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.173%	$4K	$48K	12x	as long as short
SoDEX LINK-USD	+0.0054%	1h	12.942	+0.016%	$11K	$61K	10x	as long as short
HTX LINK-USDT	+0.0085%	8h	12.915	−0.189%	$606K	$674K	75x	as long as short
Variational Omni LINK	+0.0090%	8h	12.938	−0.013%	$3.4M	$1.8M	—	as long as short
Lighter LINK	+0.0096%	1h	12.943	+0.024%	$1.9M	$2.3M	10x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	12.936	−0.034%	$31K	$600	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.936	−0.030%	$348K	$279K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.955	+0.116%	$81.5M	$25.2M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.947	+0.052%	$1.4M	$2.5M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.940	0.000%	$274K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.941	+0.009%	$120.1M	$267.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.937	−0.023%	$83.7M	$66.5M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	12.938	−0.015%	$27.3M	$73.6M	50x
Arcus LINK-USD	+0.0100%	1h	12.956	+0.124%	$183K	$83K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.941	+0.008%	$133.8M	$17.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.943	+0.024%	$36.0M	$54.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.946	+0.047%	$22.9M	$11.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.935	−0.038%	$54.2M	$26.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.941	+0.008%	—	$23.9M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.951	+0.085%	$334K	$351K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.941	+0.006%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.956	+0.121%	$587K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.951	+0.085%	$132K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.945	+0.039%	$82K	$64K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.952	+0.092%	$34K	$1.2M	30x	as long as short
Extended LINK-USD	+0.0104%	1h	12.936	−0.029%	$628K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.943	+0.020%	$543K	$2K	3x	as long as short
Kraken Futures PF_LINKUSD	+0.0173%	1h	12.946	+0.049%	$6.5M	$7.4M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0200%	1h	12.951	+0.085%	$973K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.945	+0.039%	$5.4M	$15.2M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0322%	1h	12.951	+0.082%	$891K	$359K	50x	as long as short
dYdX LINK-USD	+0.0393%	1h	12.943	+0.026%	$348K	$34K	10x	as long as short
Reya LINKRUSDPERPlong	+0.0408%	1h	12.940	long leg	$4K	—	20x
Phemex LINKUSDT	+0.0436%	8h	12.958	+0.140%	$20.0M	$10.2M	50x	as long as short