Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0304%/8h= −33.3% APRpaid last 24h −0.088%

Price spread now: Paradex against Reya+0.066%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Paradex

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 airdropReya: Active · Paradex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.066% dearer against Reya than usual: you sell high and buy low (spread +0.066% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	13.047	0.0404	pay 0.0051% / 1h	8m 12s	$4K	—	20x
Short	Paradex LINK-USD-PERP	13.056	0.0100	get 0.0100% / 8h	7h 08m	$31K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Reya. 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 ReyabpFee ParadexbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$63.88
Price spread: +0.066% → 0.000%: $6.6
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$67.28
Costs to cover: 0.100%
Break-even: never at this rate

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

Reya and 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
Orderly PERP_LINK_USDC	−0.0127%	8h	13.045	−0.015%	$91K	$917K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	13.048	+0.010%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.056	+0.072%	$498K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	13.052	+0.036%	$107K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.959%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	13.047	+0.002%	$6.5M	$8.3M	50x	as long as short
Phoenix LINK	+0.0087%	1h	13.058	+0.086%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.043	−0.029%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERPshort	+0.0100%	8h	13.056	+0.066%	$31K	$2K	20x
Nado LINK-PERP	+0.0100%	1h	13.050	+0.023%	$351K	$316K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	13.058	+0.085%	$81.6M	$27.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.050	+0.025%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.058	+0.083%	$278K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.044	−0.023%	$120.5M	$288.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.045	−0.015%	$84.5M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.049	+0.016%	$27.5M	$77.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.068	+0.161%	$183K	$86K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.053	+0.046%	$135.2M	$18.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.046	−0.007%	$35.3M	$60.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.055	+0.062%	$23.2M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.041	−0.045%	$54.6M	$28.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.046	−0.007%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.057	+0.077%	$339K	$370K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.047	+0.003%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.038	−0.067%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.045	−0.018%	$588K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.010	−0.283%	$133K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.058	+0.085%	$83K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.068	+0.161%	$34K	$1.3M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.042	−0.038%	$14K	$58K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.033	−0.108%	$626K	$679K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.038	−0.071%	$624K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.044	−0.019%	$547K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	13.050	+0.023%	$937K	$3.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.052	+0.039%	$5.3M	$16.1M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0233%	1h	13.053	+0.045%	$868K	$318K	50x	as long as short
Phemex LINKUSDT	+0.0286%	8h	13.058	+0.085%	$20.1M	$11.1M	50x	as long as short
Reya LINKRUSDPERPlong	+0.0404%	1h	13.047	long leg	$4K	—	20x
dYdX LINK-USD	+0.0915%	1h	13.058	+0.087%	$351K	$48K	10x	as long as short