Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0136%/8h= −14.9% APRpaid last 24h +0.002%

Price spread now: Paradex against Deribit−0.056%7-day average — · you buy dearer than you sell

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

Long on Deribit 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

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Paradex is 0.056% cheaper against Deribit than usual: you would sell low and buy high (−$6 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	Deribit LINK_USDC-PERPETUAL	12.964	0.0236	pay 0.0029% / 1h	54m 15s	$888K	$355K	50x
Short	Paradex LINK-USD-PERP	12.956	0.0100	get 0.0100% / 8h	5h 54m	$31K	$600	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Deribit. 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 DeribitbpFee ParadexbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$28.58
Price spread: −0.056% → 0.000%: −$5.62
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$45.2
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 57 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 Deribit live order book, 57 min ago	2.32 bp	5.8 bp −$6	12.7 bp −$127	doesn't fit	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 39 exchanges

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	−0.0194%	8h	12.949	−0.113%	$85K	$876K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.965	+0.011%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.976	+0.092%	$489K	$2.1M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.956	−0.059%	$115K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	12.980	+0.127%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.348%	$4K	$48K	12x	as long as short
HTX LINK-USDT	+0.0093%	8h	12.950	−0.109%	$608K	$677K	75x	as long as short
Variational Omni LINK	+0.0094%	8h	12.971	+0.058%	$3.4M	$1.8M	—	as long as short
Lighter LINK	+0.0096%	1h	12.956	−0.057%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERPshort	+0.0100%	8h	12.956	−0.056%	$31K	$600	20x

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.959	−0.040%	$348K	$279K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.972	+0.064%	$81.6M	$25.2M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.965	+0.006%	$1.4M	$2.5M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.963	−0.007%	$275K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.957	−0.051%	$120.2M	$268.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.953	−0.083%	$83.7M	$66.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.955	−0.067%	$27.3M	$73.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.978	+0.110%	$183K	$83K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.959	−0.036%	$133.9M	$17.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.959	−0.036%	$35.7M	$54.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.963	−0.005%	$22.9M	$11.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.954	−0.075%	$54.3M	$26.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.957	−0.052%	—	$23.9M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.972	+0.064%	$335K	$352K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.985	+0.163%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.985	+0.161%	$582K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.998	+0.265%	$132K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.965	+0.010%	$83K	$64K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.975	+0.090%	$33K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.956	−0.059%	$11K	$61K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	12.951	−0.100%	$628K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.958	−0.042%	$543K	$2K	3x	as long as short
Kraken Futures PF_LINKUSD	+0.0173%	1h	12.959	−0.035%	$6.5M	$7.4M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0200%	1h	13.000	+0.280%	$977K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.966	+0.018%	$5.4M	$15.3M	75x	as long as short
Deribit LINK_USDC-PERPETUALlong	+0.0236%	1h	12.964	long leg	$888K	$355K	50x
Reya LINKRUSDPERP	+0.0408%	1h	12.955	−0.064%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0436%	1h	12.964	+0.003%	$349K	$46K	10x	as long as short
Phemex LINKUSDT	+0.0439%	8h	12.971	+0.056%	$20.0M	$10.2M	50x	as long as short