Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Paradex against Bybit+0.048%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 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: Paradex is 0.048% dearer against Bybit than usual: you sell high and buy low, +$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	Bybit LINKUSDT	12.941	0.0100	pay 0.0100% / 8h	3h 26m	$83.6M	$72.4M	75x
Short	Paradex LINK-USD-PERP	12.947	0.0100	get 0.0100% / 8h	3h 26m	$31K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bybit. 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 BybitbpFee ParadexbpOrdersPrice spread, now +0.048%Rate

Funding earned: $0
Price spread: +0.048% → 0.000%: $4.75
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$10.25
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.38 bp	7.2 bp −$7	11.6 bp −$116	32.9 bp −$3,289	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 −0.0089% / S +0.0166%	1h	12.943	+0.016%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.953	+0.094%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.944	+0.026%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.181%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0049%	8h	12.940	−0.008%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.990	+0.377%	$3K	$82K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.942	+0.012%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERPshort	+0.0100%	8h	12.947	+0.048%	$31K	$2K	20x
Nado LINK-PERP	+0.0100%	1h	12.942	+0.012%	$391K	$308K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.948	+0.053%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.949	+0.064%	$276K	$181K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.941	0.000%	$120.1M	$299.9M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	12.941	long leg	$83.6M	$72.4M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	12.944	+0.023%	$27.4M	$81.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.963	+0.170%	$181K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.944	+0.023%	$128.2M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.944	+0.023%	$32.7M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.948	+0.054%	$22.7M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.944	+0.023%	$53.9M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.943	+0.015%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.947	+0.046%	$340K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.006	+0.504%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.981	+0.305%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.976	+0.271%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.997	+0.433%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.956	+0.116%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.941	−0.001%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.957	+0.124%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.943	+0.015%	$11K	$64K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.924	−0.129%	$634K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.938	−0.025%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.944	+0.021%	$543K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	12.975	+0.263%	$924K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0136%	1h	12.947	+0.049%	$786K	$210K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.951	+0.077%	$5.3M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0244%	1h	12.946	+0.039%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0331%	1h	12.959	+0.139%	$81.0M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0392%	1h	12.941	−0.002%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0554%	8h	12.961	+0.155%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0787%	1h	12.948	+0.052%	$344K	$31K	10x	as long as short