Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Bybit against Paradex+0.042%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Bybit

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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.042% dearer against Paradex than usual: you sell high and buy low, +$4 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	Paradex LINK-USD-PERP	13.202	0.0100	pay 0.0100% / 8h	7h 42m	$32K	$3K	20x
Short	Bybit LINKUSDT	13.208	0.0100	get 0.0100% / 8h	7h 42m	$85.1M	$71.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Paradex. 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 ParadexbpFee BybitbpOrdersPrice spread, now +0.042%Rate

Funding earned: $0.07
Price spread: +0.042% → 0.000%: $4.19
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$10.74
Costs to cover: 0.150%
Break-even: 1103.5 days

Slippage unknown: Paradex: no order-book sample; Bybit: live order book, 1 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 Paradex no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	0.38 bp	6.8 bp −$7	12.2 bp −$122	39.5 bp −$3,947	doesn't fit

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 −0.0091% / S +0.0167%	1h	13.201	−0.012%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.187	−0.114%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.199	−0.023%	$134K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0023%	1h	13.207	+0.034%	$764K	$182K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.078%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.161	−0.311%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0045%	8h	13.198	−0.034%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.204	+0.012%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERPlong	+0.0100%	8h	13.202	long leg	$32K	$3K	20x
Nado LINK-PERP	+0.0100%	1h	13.211	+0.065%	$405K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.208	+0.038%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.205	+0.022%	$277K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.212	+0.072%	$122.7M	$305.2M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.208	+0.042%	$85.1M	$71.3M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.210	+0.057%	$27.9M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.219	+0.125%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.208	+0.042%	$130.8M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.203	+0.004%	$36.8M	$58.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.204	+0.012%	$22.9M	$14.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.209	+0.049%	$55.0M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.210	+0.057%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.146	−0.424%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.156	−0.351%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.161	−0.315%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.166	−0.276%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.215	+0.095%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.199	−0.023%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.216	+0.100%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.198	−0.034%	$5K	$29K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.170	−0.246%	$648K	$871K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.205	+0.021%	$744K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.202	−0.005%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.198	−0.034%	$1.0M	$2.8M	50x	as long as short
Phemex LINKUSDT	+0.0140%	8h	13.210	+0.057%	$20.4M	$11.6M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0197%	1h	13.212	+0.072%	$366K	$369K	15x	as long as short
dYdX LINK-USD	+0.0206%	1h	13.199	−0.023%	$350K	$48K	10x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.196	−0.049%	$5.3M	$16.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.205	+0.016%	$6.9M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.209	+0.052%	$5K	—	20x	as long as short
Hyperliquid LINK	+0.0533%	1h	13.233	+0.231%	$80.9M	$25.1M	10x	as long as short