Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.031%

Price spread now: Paradex against dYdX−0.029%7-day average — · you buy dearer than you sell

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

Long on dYdX 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

Funding pays, the price is against you. Paradex is 0.029% cheaper against dYdX than usual: you would sell low and buy high (spread −0.029% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 23 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	13.138	0	get 0.0000% / 1h	35m 39s	$348K	$48K	10x
Short	Paradex LINK-USD-PERP	13.134	0.0100	get 0.0100% / 8h	1h 35m	$32K	$3K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against dYdX. 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 dYdXbpFee ParadexbpOrdersPrice spread, now −0.029%Rate

Funding earned: $20.99
Price spread: −0.029% → 0.000%: −$2.9
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $4.09
Costs to cover: 0.140%
Break-even: 5.6 days

Slippage unknown: dYdX: live order book, 48 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 dYdX live order book, 48 min ago	125.69 bp	130.7 bp −$131	130.7 bp −$1,307	131.7 bp −$13.2K	191.2 bp −$95.6K
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 −0.0090% / S +0.0167%	1h	13.139	+0.008%	$1.8M	—	200x	as long as short
dYdX LINK-USDlong	0.0000%	1h	13.138	long leg	$348K	$48K	10x
Kalshi KXLINKPERP	0.0000%	8h	13.154	+0.123%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.140	+0.018%	$717K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.141	+0.022%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.618%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.208	+0.535%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.139	+0.007%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.143	+0.036%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERPshort	+0.0100%	8h	13.134	−0.029%	$32K	$3K	20x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.147	+0.068%	$399K	$312K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.144	+0.045%	$77.6M	$23.8M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.139	+0.005%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.140	+0.015%	$275K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.141	+0.020%	$121.9M	$302.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.142	+0.030%	$84.7M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.143	+0.038%	$27.6M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.163	+0.190%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.132	−0.046%	$130.4M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.137	−0.008%	$36.4M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.136	−0.016%	$22.2M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.131	−0.054%	$54.7M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.134	−0.031%	—	$21.5M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.205	+0.509%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.183	+0.343%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.179	+0.308%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.182	+0.334%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.143	+0.038%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.136	−0.016%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.156	+0.134%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.134	−0.031%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.131	−0.057%	$646K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.132	−0.044%	$675K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.141	+0.019%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.148	+0.076%	$992K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0176%	1h	13.136	−0.016%	$364K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.152	+0.106%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.137	−0.005%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0465%	8h	13.144	+0.045%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0696%	1h	13.137	−0.010%	$6.9M	$8.0M	50x	as long as short