Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: Deribit against Paradex+0.180%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 Deribit

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

The price spread pays, funding is against you. Deribit is 0.180% dearer against Paradex than usual: you sell high and buy low (spread +0.180% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex LINK-USD-PERP	13.135	0.0100	pay 0.0100% / 8h	1h 22m	$32K	$3K	20x
Short	Deribit LINK_USDC-PERPETUAL	13.159	0	get 0.0000% / 1h	22m 52s	$719K	$125K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.180%Rate

Funding earned: −$20.99
Price spread: +0.180% → 0.000%: $17.96
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$14.04
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Deribit: live order book, 61 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 Deribit live order book, 61 min ago	2.66 bp	11.5 bp −$11	15.6 bp −$156	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 −0.0090% / S +0.0167%	1h	13.155	+0.150%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.142	+0.056%	$348K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.152	+0.132%	$460K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUALshort	0.0000%	1h	13.159	+0.180%	$719K	$125K	50x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.155	+0.152%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.596%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.138	+0.025%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.150	+0.114%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.156	+0.164%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERPlong	+0.0100%	8h	13.135	long leg	$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	13.150	+0.114%	$402K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.169	+0.259%	$77.6M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.164	+0.224%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.142	+0.051%	$275K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.163	+0.214%	$122.2M	$303.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.164	+0.221%	$85.0M	$70.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.162	+0.205%	$27.7M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.160	+0.190%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.163	+0.213%	$130.5M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.164	+0.221%	$36.5M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.167	+0.244%	$22.5M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.159	+0.183%	$54.8M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.162	+0.205%	—	$21.5M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.119	−0.123%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.123	−0.091%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.134	−0.005%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.133	−0.015%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.157	+0.167%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.150	+0.111%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.166	+0.237%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.153	+0.137%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.121	−0.104%	$645K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.158	+0.175%	$675K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.157	+0.165%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.146	+0.084%	$991K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0204%	1h	13.166	+0.236%	$365K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.150	+0.114%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.148	+0.102%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0474%	8h	13.168	+0.251%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0695%	1h	13.158	+0.173%	$7.0M	$8.1M	50x	as long as short