Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Bybit against Paradex−0.047%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Bybit

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.047% cheaper against Paradex than usual: you would sell low and buy high, −$5 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	Paradex LINK-USD-PERP	13.041	0.0100	pay 0.0100% / 8h	7h 00m	$31K	$2K	20x
Short	Bybit LINKUSDT	13.035	0.0100	get 0.0100% / 8h	7h 00m	$84.5M	$70.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.047%Rate

Funding earned: $0.01
Price spread: −0.047% → 0.000%: −$4.68
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$19.68
Costs to cover: 0.150%
Break-even: 17190.0 days

Slippage unknown: Paradex: no order-book sample; Bybit: live order book, 4 min ago. 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 Bybit live order book, 4 min ago	0.38 bp	6.9 bp −$7	13.2 bp −$132	49.5 bp −$4,949	doesn't fit

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	−0.0134%	8h	13.037	−0.032%	$91K	$910K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	13.056	+0.116%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.054	+0.097%	$500K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	13.046	+0.040%	$107K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.916%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	13.042	+0.003%	$6.5M	$8.3M	50x	as long as short
Phoenix LINK	+0.0087%	1h	13.062	+0.162%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.038	−0.023%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERPlong	+0.0100%	8h	13.041	long leg	$31K	$2K	20x
Nado LINK-PERP	+0.0100%	1h	13.044	+0.022%	$351K	$312K	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	13.056	+0.117%	$81.5M	$27.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.045	+0.031%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.048	+0.053%	$277K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.037	−0.033%	$120.6M	$286.9M	75x	as long as short
Bybit LINKUSDTshort	+0.0100%	8h	13.035	−0.047%	$84.5M	$70.5M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.035	−0.047%	$27.4M	$77.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.062	+0.160%	$182K	$86K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.047	+0.045%	$135.0M	$18.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.037	−0.032%	$35.9M	$60.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.052	+0.084%	$23.2M	$12.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.038	−0.024%	$54.6M	$28.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.044	+0.022%	—	$22.8M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.052	+0.084%	$339K	$370K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.038	−0.023%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.058	+0.128%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.055	+0.104%	$588K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.061	+0.153%	$134K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.052	+0.084%	$83K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.056	+0.116%	$34K	$1.3M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.038	−0.024%	$15K	$59K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.021	−0.151%	$625K	$679K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.034	−0.056%	$624K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.041	+0.001%	$547K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	13.046	+0.038%	$939K	$3.3M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0210%	1h	13.048	+0.053%	$876K	$329K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.047	+0.045%	$5.3M	$16.1M	75x	as long as short
Phemex LINKUSDT	+0.0354%	8h	13.054	+0.099%	$20.1M	$11.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0404%	1h	13.048	+0.054%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0820%	1h	13.047	+0.044%	$351K	$48K	10x	as long as short