Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0285%/8h= +31.2% APRpaid last 24h +0.083%

Price spread now: Reya against Paradex+0.025%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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 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 · Reya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Reya is 0.025% dearer against Paradex than usual: you sell high and buy low: +$3 more if the spread 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	12.991	0.0100	pay 0.0100% / 8h	6h 15m	$31K	$2K	20x
Short	Reya LINKRUSDPERP	12.994	0.0385	get 0.0048% / 1h	15m 31s	$4K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.025%Rate

Funding earned: $59.85
Price spread: +0.025% → 0.000%: $2.52
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Reya: 3 bp × 2 orders: −$6
Net: $52.36
Costs to cover: 0.100%
Break-even: 0.9 days

Slippage unknown: Paradex: no order-book sample; Reya: 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 Reya no order-book sample	—	—	—	—	—

Paradex and Reya: 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	12.995	+0.035%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.998	+0.055%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.995	+0.034%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.546%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.002	+0.089%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.990	−0.004%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.995	+0.034%	$952K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.993	+0.019%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERPlong	+0.0100%	8h	12.991	long leg	$31K	$2K	20x
Nado LINK-PERP	+0.0100%	1h	12.991	+0.004%	$395K	$322K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.997	+0.050%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.993	+0.022%	$275K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.992	+0.009%	$119.4M	$303.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.988	−0.020%	$83.8M	$72.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.996	+0.042%	$27.4M	$84.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.010	+0.150%	$182K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.991	+0.004%	$128.1M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.993	+0.019%	$33.0M	$59.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.997	+0.050%	$23.1M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.994	+0.027%	$54.0M	$30.9M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.990	−0.004%	—	$23.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	−0.011%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.996	+0.045%	$43K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.004	+0.102%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.003	+0.096%	$133K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.002	+0.088%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.991	+0.005%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.006	+0.116%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.991	+0.004%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.986	−0.037%	$641K	$858K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.987	−0.025%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.994	+0.027%	$545K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0112%	1h	12.998	+0.058%	$772K	$212K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0115%	1h	13.002	+0.088%	$338K	$386K	15x	as long as short
dYdX LINK-USD	+0.0380%	1h	12.994	+0.023%	$344K	$35K	10x	as long as short
Reya LINKRUSDPERPshort	+0.0385%	1h	12.994	+0.025%	$4K	—	20x
Hyperliquid LINK	+0.0460%	1h	13.011	+0.157%	$80.7M	$26.5M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.997	+0.053%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0595%	8h	13.010	+0.150%	$20.1M	$11.5M	50x	as long as short