Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0363%/8h= +39.8% APRpaid last 24h +0.059%

Price spread now: Hyperliquid against Paradex+0.061%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 Hyperliquid

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 · Hyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Hyperliquid is 0.061% dearer against Paradex than usual: you sell high and buy low: +$6 more if the spread 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	12.981	0.0100	pay 0.0100% / 8h	6h 10m	$31K	$2K	20x
Short	Hyperliquid LINK	12.989	0.0463	get 0.0058% / 1h	10m 27s	$80.7M	$26.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.061%Rate

Funding earned: $76.28
Price spread: +0.061% → 0.000%: $6.07
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $69.36
Costs to cover: 0.130%
Break-even: 0.6 days

Slippage unknown: Paradex: no order-book sample; Hyperliquid: 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 Hyperliquid live order book, 3 min ago	0.38 bp	5.1 bp −$5	9.8 bp −$98	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 39 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	12.982	+0.006%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.996	+0.112%	$475K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.982	+0.004%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.477%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.005	+0.181%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.985	+0.030%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.993	+0.092%	$952K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.977	−0.031%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERPlong	+0.0100%	8h	12.981	long leg	$31K	$2K	20x
Nado LINK-PERP	+0.0100%	1h	12.975	−0.047%	$394K	$319K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.987	+0.044%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.978	−0.021%	$275K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.974	−0.053%	$119.3M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.969	−0.093%	$83.7M	$72.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.971	−0.078%	$27.3M	$83.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.996	+0.115%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.985	+0.030%	$128.0M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.977	−0.032%	$33.1M	$59.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.991	+0.076%	$23.0M	$14.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.970	−0.086%	$53.9M	$30.8M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.976	−0.039%	—	$23.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.979	−0.015%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.991	+0.078%	$43K	$311K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.991	+0.078%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.989	+0.061%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.978	−0.024%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.989	+0.058%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.993	+0.091%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.992	+0.084%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.919	−0.480%	$637K	$857K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.971	−0.076%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.992	+0.080%	$545K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0127%	1h	12.996	+0.115%	$338K	$383K	15x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0150%	1h	12.993	+0.093%	$772K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	12.967	−0.106%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0410%	1h	12.976	−0.041%	$344K	$35K	10x	as long as short
Hyperliquid LINKshort	+0.0463%	1h	12.989	+0.061%	$80.7M	$26.6M	10x
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.996	+0.117%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0613%	8h	13.008	+0.207%	$20.1M	$11.5M	50x	as long as short