Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.013%

Price spread now: Paradex against Injective+4.569%7-day average — · you sell dearer than you buy

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

Long on Injective 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 airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Paradex is 4.569% dearer against Injective than usual: you sell high and buy low: +$457 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	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	6m 51s	$4K	$48K	12x
Short	Paradex LINK-USD-PERP	12.967	0.0100	get 0.0100% / 8h	5h 06m	$31K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Injective. 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 InjectivebpFee ParadexbpOrdersPrice spread, now +4.569%Rate

Funding earned: $13.98
Price spread: +4.569% → 0.000%: $456.88
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: $466.84
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Injective: 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 Injective no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Injective 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 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	12.960	+4.516%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.967	+4.573%	$481K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.961	+4.522%	$160K	—	150x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0063%	8h	12.957	+4.492%	$117K	$1.4M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.994	+4.790%	$964K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0074%	1h	12.958	+4.502%	$772K	$177K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.949	+4.430%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	12.989	+4.753%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERPshort	+0.0100%	8h	12.967	+4.569%	$31K	$2K	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	12.961	+4.528%	$392K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.958	+4.502%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.967	+4.573%	$273K	$174K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.949	+4.426%	$119.7M	$296.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.947	+4.411%	$83.6M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.946	+4.403%	$27.3M	$82.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.979	+4.669%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.950	+4.435%	$128.0M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.951	+4.444%	$32.4M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.956	+4.484%	$22.9M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.947	+4.411%	$53.8M	$29.7M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.949	+4.427%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.961	+4.524%	$342K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	+4.750%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.985	+4.721%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.980	+4.677%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.985	+4.718%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.964	+4.548%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.958	+4.497%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.977	+4.651%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.954	+4.468%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.954	+4.470%	$639K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.945	+4.392%	$647K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.958	+4.500%	$543K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.957	+4.492%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.955	+4.478%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0556%	1h	12.958	+4.497%	$6.8M	$8.0M	50x	as long as short
dYdX LINK-USD	+0.0599%	1h	12.963	+4.537%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0622%	8h	12.976	+4.645%	$20.0M	$11.4M	50x	as long as short
Hyperliquid LINK	+0.0632%	1h	12.967	+4.573%	$81.6M	$27.3M	10x	as long as short