Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.015%

Price spread now: BingX against Variational Omni+0.285%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on BingX

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 airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.285% dearer against Variational Omni than usual: you sell high and buy low, +$29 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LINK	12.887	0.0100	pay 0.0100% / 8h	2h 20m	$3.3M	$1.7M	—
Short	BingX LINK-USDC	12.924	0.0100	get 0.0100% / 8h	2h 20m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Variational Omni. 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 Variational OmnibpFee BingXbpOrdersPrice spread, now +0.285%Rate

Funding earned: $0
Price spread: +0.285% → 0.000%: $28.52
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $18.52
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; BingX: live order book, 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 Variational Omni RFQ quote, 4 min ago	3.15 bp	doesn't fit	9.7 bp −$97	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	0.78 bp	8.2 bp −$8	21.4 bp −$214	85.9 bp −$8,594	379.2 bp −$189.6K

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	12.925	+0.296%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.908	+0.164%	$525K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.925	+0.290%	$157K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.781%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0039%	8h	12.918	+0.239%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.881	−0.046%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.919	+0.248%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.922	+0.268%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.912	+0.196%	$346K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.926	+0.298%	$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	12.920	+0.257%	$275K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.927	+0.308%	$118.8M	$303.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.926	+0.301%	$83.4M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.927	+0.308%	$27.4M	$80.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.937	+0.386%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.921	+0.262%	$124.3M	$15.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.926	+0.301%	$32.9M	$57.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.922	+0.270%	$22.8M	$13.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.923	+0.277%	$54.0M	$30.4M	75x	as long as short
BingX LINK-USDCshort	+0.0100%	8h	12.924	+0.285%	—	$6.6M	—
Backpack LINK_USDC_PERP	+0.0100%	1h	12.897	+0.076%	$336K	$390K	15x	as long as short
Variational Omni LINKlong	+0.0100%	8h	12.887	long leg	$3.3M	$1.7M	—
edgeX LINKUSDC	+0.0100%	4h	12.844	−0.333%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.850	−0.289%	$582K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.849	−0.297%	$131K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.928	+0.316%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.884	−0.027%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.914	+0.208%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.888	+0.006%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.867	−0.156%	$632K	$675K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.918	+0.242%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.888	+0.002%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.857	−0.235%	$915K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0208%	1h	12.893	+0.042%	$796K	$244K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.895	+0.060%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0235%	1h	12.936	+0.378%	$80.6M	$27.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0278%	1h	12.888	+0.008%	$6.6M	$8.2M	50x	as long as short
Reya LINKRUSDPERP	+0.0395%	1h	12.920	+0.258%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0575%	8h	12.903	+0.122%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0732%	1h	12.918	+0.237%	$344K	$33K	10x	as long as short