Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0279%/8h= −30.5% APRpaid last 24h −0.094%

Price spread now: Variational Omni against Reya+0.082%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.082% dearer against Reya than usual: you sell high and buy low (spread +0.082% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	13.135	0.0379	pay 0.0047% / 1h	26m 57s	$5K	—	20x
Short	Variational Omni LINK	13.146	0.0100	get 0.0100% / 8h	26m 57s	$3.3M	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.082%Rate

Funding earned: −$58.51
Price spread: +0.082% → 0.000%: $8.16
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$56.34
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 2 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 Variational Omni RFQ quote, 2 min ago	3.12 bp	doesn't fit	8.8 bp −$88	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 −0.0091% / S +0.0167%	1h	13.143	+0.058%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.149	+0.108%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.149	+0.105%	$726K	$133K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.143	+0.057%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.152	+0.127%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.598%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.143	+0.059%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.147	+0.090%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.137	+0.013%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.140	+0.036%	$401K	$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	13.147	+0.093%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.139	+0.032%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.152	+0.127%	$122.2M	$304.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.147	+0.089%	$84.7M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.150	+0.112%	$27.7M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.154	+0.143%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.149	+0.105%	$130.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.147	+0.089%	$36.7M	$57.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.148	+0.097%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.146	+0.082%	$54.7M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.149	+0.105%	—	$21.3M	—	as long as short
Variational Omni LINKshort	+0.0100%	8h	13.146	+0.082%	$3.3M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	13.140	+0.036%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	+0.075%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.148	+0.097%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.142	+0.051%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.143	+0.056%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.156	+0.159%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.141	+0.044%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.127	−0.067%	$646K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.143	+0.060%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.145	+0.071%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.139	+0.028%	$994K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.146	+0.082%	$5.3M	$17.3M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0239%	1h	13.161	+0.196%	$363K	$377K	15x	as long as short
Hyperliquid LINK	+0.0284%	1h	13.166	+0.234%	$78.0M	$24.1M	10x	as long as short
Reya LINKRUSDPERPlong	+0.0379%	1h	13.135	long leg	$5K	—	20x
Kraken Futures PF_LINKUSD	+0.0477%	1h	13.151	+0.123%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0485%	8h	13.156	+0.158%	$20.4M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0682%	1h	13.142	+0.054%	$348K	$48K	10x	as long as short