Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.006%

Price spread now: Extended against Paradex−0.123%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 Extended

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 · Extended: 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: Extended is 0.123% cheaper against Paradex than usual: you would sell low and buy high, −$12 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	13.159	0.0100	pay 0.0100% / 8h	1h 53m	$32K	$3K	20x
Short	Extended LINK-USD	13.142	0.0104	get 0.0013% / 1h	53m 09s	$667K	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.123%Rate

Funding earned: $0.85
Price spread: −0.123% → 0.000%: −$12.34
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$20.49
Costs to cover: 0.090%
Break-even: 175.2 days

Slippage unknown: Paradex: no order-book sample; Extended: live order book, 5 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 Extended live order book, 5 min ago	2.29 bp	6.1 bp −$6	7.6 bp −$76	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	13.147	−0.089%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.162	+0.028%	$349K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.162	+0.025%	$471K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.147	−0.092%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.149	−0.073%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.766%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.174	+0.118%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.145	−0.104%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.148	−0.085%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERPlong	+0.0100%	8h	13.159	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	13.161	+0.014%	$400K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.150	−0.066%	$77.5M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.154	−0.036%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.164	+0.037%	$276K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.140	−0.139%	$121.8M	$302.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.141	−0.134%	$84.7M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.138	−0.157%	$27.7M	$85.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.171	+0.094%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.147	−0.089%	$130.5M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.143	−0.119%	$36.6M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.147	−0.089%	$22.3M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.142	−0.127%	$54.5M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.138	−0.157%	—	$21.7M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.148	−0.078%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.165	+0.049%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.173	+0.109%	$590K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.174	+0.117%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.157	−0.013%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.141	−0.131%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.165	+0.046%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.145	−0.104%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.146	−0.092%	$646K	$903K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	13.142	−0.123%	$667K	$1.8M	25x
Aevo LINK-PERP	+0.0104%	1h	13.149	−0.077%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.154	−0.035%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0173%	1h	13.146	−0.096%	$366K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.140	−0.142%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.149	−0.076%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0474%	8h	13.161	+0.018%	$20.4M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0695%	1h	13.153	−0.045%	$6.9M	$8.0M	50x	as long as short