Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.004%

Price spread now: Paradex against Lighter+0.109%7-day average — · you sell dearer than you buy

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

Long on Lighter 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 airdropLighter: Season 3 · Paradex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.109% dearer against Lighter than usual: you sell high and buy low, +$11 on $10k if it 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	Lighter LINK	12.854	0.0096	pay 0.0012% / 1h	37m 15s	$1.9M	$2.8M	10x
Short	Paradex LINK-USD-PERP	12.868	0.0100	get 0.0100% / 8h	37m 15s	$31K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Lighter. 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 LighterbpFee ParadexbpOrdersPrice spread, now +0.109%Rate

Funding earned: $0.81
Price spread: +0.109% → 0.000%: $10.88
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: $7.69
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Lighter: live order book, 5 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 Lighter live order book, 5 min ago	2.69 bp	2.9 bp −$3	10.2 bp −$102	73.8 bp −$7,380	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 −0.0087% / S +0.0165%	1h	12.859	+0.037%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0069%	8h	12.853	−0.012%	$90K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.868	+0.103%	$504K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	12.861	+0.051%	$804K	$268K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.879	+0.188%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.536%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.920	+0.512%	$3K	$85K	10x	as long as short
Lighter LINKlong	+0.0096%	1h	12.854	long leg	$1.9M	$2.8M	10x
Paradex LINK-USD-PERPshort	+0.0100%	8h	12.868	+0.109%	$31K	$2K	20x
Nado LINK-PERP	+0.0100%	1h	12.861	+0.047%	$353K	$341K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.869	+0.113%	$80.5M	$28.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.865	+0.085%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.868	+0.105%	$274K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.854	−0.004%	$118.7M	$299.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.853	−0.012%	$83.1M	$73.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.854	−0.004%	$27.0M	$79.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.890	+0.276%	$180K	$95K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.864	+0.074%	$132.8M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.860	+0.043%	$34.3M	$58.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.864	+0.074%	$22.8M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.858	+0.027%	$53.8M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.858	+0.027%	—	$23.2M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.877	+0.175%	$334K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.900	+0.354%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.882	+0.213%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.887	+0.251%	$585K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.911	+0.440%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.863	+0.066%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.874	+0.149%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.875	+0.161%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.856	+0.012%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.829	−0.201%	$627K	$778K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.857	+0.020%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.851	−0.026%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.858	+0.024%	$539K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.875	+0.160%	$929K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.858	+0.027%	$5.2M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0400%	1h	12.856	+0.011%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0559%	8h	12.873	+0.144%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0563%	1h	12.864	+0.072%	$343K	$45K	10x	as long as short