Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0292%/8h= +32.0% APRpaid last 24h +0.085%

Price spread now: Reya against Paradex+0.169%47s7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 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 · Reya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Reya is 0.169% dearer against Paradex than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex LINK-USD-PERP	12.983	0.0100	pay 0.0100% / 8h	3h 30m	$31K	$2K	20x
Short	Reya LINKRUSDPERP	13.005	0.0392	get 0.0049% / 1h	30m 40s	$4K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.169%Rate

Funding earned: $61.36
Price spread: +0.169% → 0.000%: $16.86
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: $68.22
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Reya: no order-book sample. 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 Reya no order-book sample	—	—	—	—	—

Paradex and Reya: 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 −0.0089% / S +0.0166%	1h	13.007	+0.185%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.000	+0.130%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.007	+0.183%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.494%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0051%	8h	13.006	+0.174%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.992	+0.065%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.994	+0.081%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERPlong	+0.0100%	8h	12.983	long leg	$31K	$2K	20x
Nado LINK-PERP	+0.0100%	1h	13.007	+0.186%	$393K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.998	+0.111%	$1.3M	$2.4M	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	12.996	+0.099%	$275K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.996	+0.097%	$120.7M	$300.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.994	+0.082%	$84.0M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.997	+0.105%	$27.5M	$81.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.012	+0.220%	$182K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.996	+0.097%	$128.8M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.995	+0.089%	$32.9M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.007	+0.182%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.993	+0.074%	$54.2M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.997	+0.105%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.017	+0.259%	$342K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.006	+0.176%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.980	−0.028%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.983	−0.003%	$581K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.988	+0.035%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.015	+0.243%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.010	+0.204%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.003	+0.153%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.011	+0.212%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.997	+0.106%	$638K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.991	+0.060%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.015	+0.243%	$546K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.996	+0.097%	$925K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.005	+0.166%	$5.3M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.012	+0.223%	$6.7M	$8.1M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0311%	1h	13.019	+0.276%	$790K	$210K	50x	as long as short
Hyperliquid LINK	+0.0352%	1h	13.007	+0.182%	$81.3M	$27.5M	10x	as long as short
Reya LINKRUSDPERPshort	+0.0392%	1h	13.005	+0.169%	$4K	—	20x
Phemex LINKUSDT	+0.0534%	8h	13.015	+0.243%	$20.1M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0658%	1h	13.000	+0.125%	$344K	$30K	10x	as long as short