Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h +0.001%

Price spread now: Coinbase International against Paradex−0.153%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Coinbase International

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. Coinbase International is 0.153% cheaper against Paradex than usual: you would sell low and buy high (spread −0.153% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 25 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex LINK-USD-PERP	13.200	0.0099	pay 0.0099% / 8h	7h 15m	$32K	$2K	20x
Short	Coinbase International LINK-PERP-INTX	13.180	0.0120	get 0.0015% / 1h	15m 46s	$1.0M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.153%Rate

Funding earned: $4.34
Price spread: −0.153% → 0.000%: −$15.33
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$24.99
Costs to cover: 0.140%
Break-even: 47.3 days

Slippage unknown: Paradex: no order-book sample; Coinbase International: live order book, 3 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 Coinbase International live order book, 3 min ago	3.05 bp	11.0 bp −$11	15.2 bp −$152	doesn't fit	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	13.165	−0.270%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.165	−0.271%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.165	−0.265%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.062%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.168	−0.248%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	13.164	−0.275%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.174	−0.200%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERPlong	+0.0099%	8h	13.200	long leg	$32K	$2K	20x
Nado LINK-PERP	+0.0100%	1h	13.161	−0.293%	$404K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.174	−0.202%	$1.4M	$3.0M	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	13.164	−0.271%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.173	−0.206%	$122.3M	$299.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.168	−0.244%	$84.9M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.170	−0.229%	$27.6M	$84.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.174	−0.199%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.176	−0.184%	$130.5M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.174	−0.199%	$37.2M	$59.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.176	−0.184%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.170	−0.229%	$54.6M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.169	−0.237%	—	$20.9M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.154	−0.347%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.155	−0.345%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.158	−0.317%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.158	−0.320%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.168	−0.244%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.164	−0.272%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.172	−0.212%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.175	−0.191%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.152	−0.362%	$648K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.172	−0.213%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.172	−0.216%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0120%	1h	13.180	−0.153%	$1.0M	$2.7M	50x
Deribit LINK_USDC-PERPETUAL	+0.0175%	1h	13.175	−0.187%	$782K	$211K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0178%	1h	13.180	−0.153%	$365K	$364K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.141	−0.449%	$5.2M	$15.4M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.183	−0.129%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.161	−0.295%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0468%	1h	13.155	−0.340%	$348K	$48K	10x	as long as short
Hyperliquid LINK	+0.0557%	1h	13.191	−0.070%	$81.5M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0615%	8h	13.183	−0.131%	$20.4M	$11.6M	50x	as long as short