Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Injective against Paradex−5.428%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 Injective

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 −$2 a day on $10k at the current rate, and Injective is 5.428% cheaper against Paradex than usual: you would sell low and buy high (−$543 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	Paradex LINK-USD-PERP	13.112	0.0100	pay 0.0100% / 8h	20m 45s	$32K	$3K	20x
Short	Injective LINK/USDC PERP	12.400	0.0033	get 0.0004% / 1h	20m 45s	$4K	$48K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −5.428%Rate

Funding earned: −$13.98
Price spread: −5.428% → 0.000%: −$542.81
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$560.81
Costs to cover: 0.040%
Break-even: never at this rate

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

Paradex and Injective: 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 −0.0091% / S +0.0167%	1h	13.115	+0.025%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.126	+0.105%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.112	+0.004%	$724K	$136K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.112	+0.002%	$132K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.129	+0.135%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERPshort	+0.0033%	1h	12.400	−5.428%	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0044%	8h	13.107	−0.036%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.120	+0.067%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERPlong	+0.0100%	8h	13.112	long leg	$32K	$3K	20x
Nado LINK-PERP	+0.0100%	1h	13.113	+0.010%	$400K	$310K	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	13.123	+0.086%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.121	+0.074%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.115	+0.022%	$121.8M	$305.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.113	+0.010%	$84.5M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.112	+0.002%	$27.7M	$85.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.132	+0.155%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.118	+0.048%	$130.1M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.120	+0.063%	$36.6M	$58.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.125	+0.101%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.123	+0.086%	$54.6M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.122	+0.078%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.115	+0.023%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.103	−0.067%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.117	+0.041%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.114	+0.017%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.122	+0.078%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.106	−0.042%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.132	+0.158%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.107	−0.036%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.110	−0.017%	$645K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.118	+0.044%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.111	−0.007%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.117	+0.040%	$992K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.107	−0.036%	$5.2M	$17.3M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0223%	1h	13.123	+0.086%	$362K	$375K	15x	as long as short
Hyperliquid LINK	+0.0286%	1h	13.139	+0.208%	$77.9M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.116	+0.032%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.115	+0.025%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0489%	8h	13.129	+0.132%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0577%	1h	13.121	+0.074%	$348K	$48K	10x	as long as short