Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h +0.001%

Price spread now: Coinbase International against Paradex+0.063%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Coinbase International

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

The price spread pays, funding is against you. Coinbase International is 0.063% dearer against Paradex than usual: you sell high and buy low (spread +0.063% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex LINK-USD-PERP	12.996	0.0100	pay 0.0100% / 8h	5h 55m	$31K	$2K	20x
Short	Coinbase International LINK-PERP-INTX	13.004	0.0064	get 0.0008% / 1h	55m 36s	$952K	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$7.51
Price spread: +0.063% → 0.000%: $6.29
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$15.22
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Coinbase International: live order book, 3 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 Coinbase International live order book, 3 min ago	3.84 bp	12.4 bp −$12	15.3 bp −$153	doesn't fit	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
GMX LINK/USD [LINK-USDC]	L −0.0090% / S +0.0167%	1h	13.036	+0.307%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.992	−0.028%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.031	+0.271%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.585%	$4K	$48K	12x	as long as short
ApeX Omni LINKUSDT	+0.0039%	1h	12.976	−0.153%	$133K	$672K	50x	as long as short
Phoenix LINK	+0.0049%	1h	13.030	+0.264%	$3K	$83K	10x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0064%	1h	13.004	+0.063%	$952K	$2.6M	50x
Orderly PERP_LINK_USDC	+0.0068%	8h	13.030	+0.263%	$118K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.994	−0.016%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERPlong	+0.0100%	8h	12.996	long leg	$31K	$2K	20x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.033	+0.286%	$396K	$316K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.011	+0.114%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.998	+0.018%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.990	−0.043%	$119.5M	$296.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.984	−0.091%	$84.0M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.985	−0.083%	$27.4M	$82.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.013	+0.132%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.004	+0.063%	$128.3M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.993	−0.022%	$32.2M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.997	+0.009%	$23.0M	$13.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.990	−0.045%	$54.0M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.993	−0.022%	—	$22.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.025	+0.224%	$340K	$378K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.034	+0.296%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.981	−0.112%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.973	−0.174%	$586K	$2.6M	10x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.046	+0.386%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.030	+0.266%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.054	+0.448%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.030	+0.263%	$5K	$46K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.024	+0.213%	$642K	$685K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.988	−0.057%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.033	+0.285%	$547K	$2K	3x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.035	+0.305%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0474%	1h	12.992	−0.030%	$344K	$30K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0479%	1h	13.036	+0.308%	$774K	$212K	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0553%	1h	13.032	+0.281%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0567%	8h	13.036	+0.309%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0610%	1h	13.020	+0.186%	$81.4M	$26.6M	10x	as long as short