Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h +0.042%

Price spread now: Paradex against GMX+0.240%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Paradex

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 airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Paradex is 0.240% dearer against GMX than usual: you sell high and buy low: +$24 more if the spread 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	GMX LINK/USD [LINK-USDC]	12.891	L −0.0089% / S +0.0166%	get 0.0011% / 1h	20m 33s	$1.8M	—	200x
Short	Paradex LINK-USD-PERP	12.922	0.0100	get 0.0100% / 8h	2h 20m	$31K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against GMX. 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 GMXbpFee ParadexbpOrdersPrice spread, now +0.240%Rate

Funding earned: $39.58
Price spread: +0.240% → 0.000%: $24
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: $47.57
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; 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 GMX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

GMX and 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]long	L −0.0089% / S +0.0166%	1h	12.891	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.908	+0.136%	$525K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.892	+0.005%	$157K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.807%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0040%	8h	12.882	−0.068%	$95K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.881	−0.074%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.919	+0.221%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERPshort	+0.0100%	8h	12.922	+0.240%	$31K	$2K	20x
Nado LINK-PERP	+0.0100%	1h	12.895	+0.033%	$346K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.920	+0.229%	$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	+0.230%	$275K	$186K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.920	+0.229%	$118.8M	$302.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.919	+0.219%	$83.4M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.922	+0.242%	$27.4M	$80.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.937	+0.358%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.916	+0.195%	$124.4M	$15.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.923	+0.250%	$32.9M	$57.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.923	+0.250%	$22.8M	$13.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.919	+0.219%	$54.0M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.921	+0.234%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.897	+0.048%	$336K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.887	−0.028%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.844	−0.361%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.850	−0.317%	$582K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.849	−0.324%	$131K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.907	+0.126%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.884	−0.054%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.914	+0.181%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.888	−0.022%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.867	−0.184%	$632K	$675K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.918	+0.214%	$625K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.888	−0.025%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.857	−0.262%	$915K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0208%	1h	12.893	+0.014%	$796K	$244K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.895	+0.033%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0234%	1h	12.933	+0.327%	$80.5M	$27.6M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0278%	1h	12.888	−0.019%	$6.6M	$8.2M	50x	as long as short
Reya LINKRUSDPERP	+0.0395%	1h	12.897	+0.052%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0575%	8h	12.903	+0.095%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0732%	1h	12.918	+0.210%	$344K	$33K	10x	as long as short