Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.004%

Price spread now: Paradex against Lighter−0.058%7-day average — · you buy dearer than you sell

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

Long on Lighter 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 airdropLighter: Season 3 · Paradex: 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: Paradex is 0.058% cheaper against Lighter than usual: you would sell low and buy high, −$6 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	Lighter LINK	13.141	0.0096	pay 0.0012% / 1h	29m 42s	$2.1M	$2.4M	10x
Short	Paradex LINK-USD-PERP	13.133	0.0100	get 0.0100% / 8h	2h 29m	$32K	$3K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Lighter. 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 LighterbpFee ParadexbpOrdersPrice spread, now −0.058%Rate

Funding earned: $0.81
Price spread: −0.058% → 0.000%: −$5.82
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$9
Costs to cover: 0.040%
Break-even: 84.7 days

Slippage unknown: Lighter: live order book, 2 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 Lighter live order book, 2 min ago	1.17 bp	4.7 bp −$5	10.4 bp −$104	73.1 bp −$7,314	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 −0.0090% / S +0.0165%	1h	13.133	−0.056%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.137	−0.025%	$466K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.132	−0.065%	$712K	$120K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.134	−0.051%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.118	−0.171%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0024%	1h	13.138	−0.023%	$348K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.636%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0046%	8h	13.124	−0.127%	$135K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0068%	8h	13.128	−0.097%	$3.3M	$1.5M	—	as long as short
Lighter LINKlong	+0.0096%	1h	13.141	long leg	$2.1M	$2.4M	10x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERPshort	+0.0100%	8h	13.133	−0.058%	$32K	$3K	20x
Nado LINK-PERP	+0.0100%	1h	13.137	−0.028%	$399K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.149	+0.063%	$77.7M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.140	−0.005%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.137	−0.028%	$275K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.134	−0.048%	$121.4M	$300.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.133	−0.058%	$84.6M	$69.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.137	−0.028%	$27.7M	$84.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.147	+0.048%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.136	−0.035%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.134	−0.051%	$36.6M	$56.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.140	−0.005%	$21.9M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.135	−0.043%	$54.3M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.135	−0.043%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.140	−0.005%	$364K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.116	−0.185%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.106	−0.265%	$592K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.121	−0.150%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.139	−0.013%	$80K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.126	−0.111%	$16K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.150	+0.071%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.128	−0.096%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.122	−0.145%	$645K	$911K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.134	−0.048%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.130	−0.078%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.122	−0.142%	$988K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.125	−0.119%	$5.2M	$16.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0373%	1h	13.136	−0.039%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0477%	8h	13.142	+0.010%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0505%	1h	13.135	−0.040%	$6.9M	$7.8M	50x	as long as short