Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.010%

Price spread now: Deribit against Variational Omni+0.091%7-day average +0.021% · you sell dearer than you buy

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.068%−$7 on $10k

Price spread, last 3 days (all we have)+0.048%+$5 · spread now +0.091%, 7d avg +0.021%

Together, before fees−0.020%+ Points / potential airdropVariational Omni: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.070% dearer against Variational Omni than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of +0.021%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni LINK	13.231	0.0100	pay 0.0100% / 8h	52m 09s	$3.4M	$1.6M	—
Short	Deribit LINK_USDC-PERPETUAL	13.243	0	get 0.0000% / 1h	52m 09s	$726K	$128K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DeribitbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$21
Price spread: +0.091% → +0.021%: $6.99
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$21.01
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Deribit: live order book, 27 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, 2 min ago	3.13 bp	doesn't fit	9.5 bp −$95	doesn't fit	doesn't fit
Sell Deribit live order book, 27 min ago	4.17 bp	10.7 bp −$11	16.2 bp −$162	doesn't fit	doesn't fit

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	13.240	+0.067%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.249	+0.140%	$476K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUALshort	0.0000%	1h	13.243	+0.091%	$726K	$128K	50x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.237	+0.044%	$135K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.224	−0.052%	$4K	$84K	10x	as long as short
dYdX LINK-USD	+0.0033%	1h	13.248	+0.130%	$351K	$48K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.279%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.234	+0.025%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.236	+0.043%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.240	+0.068%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.244	+0.104%	$406K	$314K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.243	+0.096%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.244	+0.104%	$278K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.238	+0.052%	$123.3M	$303.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.234	+0.025%	$85.5M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.236	+0.040%	$27.9M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.259	+0.214%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.239	+0.063%	$131.2M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.241	+0.078%	$37.0M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.242	+0.085%	$22.6M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.238	+0.055%	$55.1M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.241	+0.078%	—	$6.6M	—	as long as short
Variational Omni LINKlong	+0.0100%	8h	13.231	long leg	$3.4M	$1.6M	—
edgeX LINKUSDC	+0.0100%	4h	13.250	+0.146%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.248	+0.131%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.228	−0.021%	$154K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.245	+0.108%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.234	+0.022%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.254	+0.175%	$35K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.238	+0.055%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.239	+0.060%	$651K	$892K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.237	+0.049%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.242	+0.087%	$555K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.244	+0.100%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.249	+0.138%	$5.3M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0293%	1h	13.252	+0.161%	$78.4M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.240	+0.069%	$5K	—	20x	as long as short
Backpack LINK_USDC_PERP	+0.0384%	1h	13.246	+0.116%	$366K	$381K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0474%	1h	13.244	+0.103%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0474%	8h	13.254	+0.176%	$20.5M	$11.5M	50x	as long as short