Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0454%/8h= −49.7% APRpaid last 24h −0.024%

Price spread now: Paradex against Kraken Futures−0.057%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures 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 against this trade now: funding costs −$14 a day on $10k at the current rate, and Paradex is 0.057% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_LINKUSD	13.008	0.0554	pay 0.0069% / 1h	27m 57s	$6.8M	$8.1M	50x
Short	Paradex LINK-USD-PERP	13.000	0.0100	get 0.0100% / 8h	5h 27m	$31K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Kraken Futures. 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 Kraken FuturesbpFee ParadexbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$95.34
Price spread: −0.057% → 0.000%: −$5.73
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$115.06
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 1 min ago; 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 Kraken Futures live order book, 1 min ago	3.46 bp	11.2 bp −$11	17.7 bp −$177	45.5 bp −$4,551	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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	13.009	+0.013%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.009	+0.012%	$482K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.004	−0.024%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.670%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.010	+0.019%	$937K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0065%	8h	13.000	−0.058%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.006	−0.013%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.044	+0.278%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERPshort	+0.0100%	8h	13.000	−0.057%	$31K	$2K	20x
Nado LINK-PERP	+0.0100%	1h	12.997	−0.077%	$395K	$315K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.007	−0.001%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.001	−0.049%	$274K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.003	−0.035%	$119.9M	$296.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.997	−0.081%	$83.9M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.004	−0.027%	$27.4M	$82.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.018	+0.081%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.009	+0.012%	$128.4M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.005	−0.019%	$32.1M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.010	+0.019%	$23.1M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.003	−0.035%	$54.1M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.005	−0.019%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.010	+0.019%	$342K	$382K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.029	+0.164%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.018	+0.078%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.036	+0.218%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.034	+0.204%	$134K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.012	+0.035%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.001	−0.052%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.019	+0.085%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.005	−0.019%	$5K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.994	−0.107%	$641K	$687K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.002	−0.039%	$649K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.005	−0.022%	$545K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0188%	1h	13.008	0.000%	$773K	$174K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.014	+0.050%	$5.2M	$15.8M	75x	as long as short
dYdX LINK-USD	+0.0351%	1h	13.002	−0.044%	$344K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0387%	1h	13.006	−0.008%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSDlong	+0.0554%	1h	13.008	long leg	$6.8M	$8.1M	50x
Phemex LINKUSDT	+0.0601%	8h	13.020	+0.096%	$20.1M	$11.5M	50x	as long as short
Hyperliquid LINK	+0.0645%	1h	13.022	+0.111%	$81.8M	$27.2M	10x	as long as short