Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0101%/8h= −11.1% APRpaid last 24h +0.013%

Price spread now: Paradex against Deribit+0.074%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Paradex

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 airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.074% dearer against Deribit than usual: you sell high and buy low (spread +0.074% now, against zero (this spread has no 7-day history yet)): +$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 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LINK_USDC-PERPETUAL	12.854	0.0201	pay 0.0025% / 1h	22m 29s	$793K	$244K	50x
Short	Paradex LINK-USD-PERP	12.864	0.0100	get 0.0100% / 8h	2h 22m	$31K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Deribit. 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 DeribitbpFee ParadexbpOrdersPrice spread, now +0.074%Rate

Funding earned: −$21.22
Price spread: +0.074% → 0.000%: $7.42
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$24.81
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 26 min ago; Paradex: no order-book sample. 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 Deribit live order book, 26 min ago	4.25 bp	7.7 bp −$8	13.6 bp −$136	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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 −0.0089% / S +0.0166%	1h	12.878	+0.184%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.855	+0.006%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.879	+0.191%	$156K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.533%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0040%	8h	12.877	+0.178%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.826	−0.221%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.864	+0.078%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERPshort	+0.0100%	8h	12.864	+0.074%	$31K	$2K	20x
Nado LINK-PERP	+0.0100%	1h	12.875	+0.166%	$345K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.880	+0.201%	$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	12.867	+0.098%	$274K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.881	+0.209%	$118.4M	$302.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.878	+0.186%	$83.1M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.883	+0.225%	$27.3M	$80.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.886	+0.248%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.874	+0.155%	$124.2M	$15.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.878	+0.186%	$32.8M	$57.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.878	+0.186%	$22.7M	$13.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.872	+0.139%	$53.8M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.877	+0.178%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.861	+0.054%	$335K	$391K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.814	−0.309%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.810	−0.343%	$42K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.833	−0.162%	$580K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.810	−0.343%	$131K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.882	+0.217%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.844	−0.076%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.859	+0.037%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.850	−0.032%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.828	−0.204%	$630K	$678K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.868	+0.110%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.850	−0.034%	$539K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.857	+0.023%	$915K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUALlong	+0.0201%	1h	12.854	long leg	$793K	$244K	50x
BloFin LINK-USDT	+0.0220%	8h	12.854	−0.001%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0229%	1h	12.889	+0.272%	$80.2M	$27.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0279%	1h	12.850	−0.032%	$6.6M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0395%	1h	12.874	+0.155%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0585%	8h	12.855	+0.007%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0793%	1h	12.865	+0.088%	$343K	$33K	10x	as long as short