Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0190%/8h= +20.8% APRpaid last 24h +0.039%

Price spread now: Paradex against GMX+0.045%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Paradex

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 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Paradex is 0.045% dearer against GMX than usual: you sell high and buy low: +$5 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	GMX LINK/USD [LINK-USDC]	12.985	L −0.0090% / S +0.0167%	get 0.0011% / 1h	54m 44s	$1.8M	—	200x
Short	Paradex LINK-USD-PERP	12.990	0.0100	get 0.0100% / 8h	5h 54m	$31K	$2K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against GMX. 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 GMXbpFee ParadexbpOrdersPrice spread, now +0.045%Rate

Funding earned: $39.91
Price spread: +0.045% → 0.000%: $4.5
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: $28.41
Costs to cover: 0.160%
Break-even: 2.0 days

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

GMX and 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]long	L −0.0090% / S +0.0167%	1h	12.985	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.013	+0.219%	$468K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.985	+0.004%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.502%	$4K	$48K	12x	as long as short
ApeX Omni LINKUSDT	+0.0039%	1h	12.976	−0.066%	$133K	$672K	50x	as long as short
Phoenix LINK	+0.0049%	1h	13.039	+0.421%	$3K	$84K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.004	+0.149%	$952K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	12.981	−0.028%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.991	+0.050%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERPshort	+0.0100%	8h	12.990	+0.045%	$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	12.993	+0.069%	$395K	$316K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.003	+0.145%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.992	+0.057%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.990	+0.044%	$119.5M	$296.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.987	+0.018%	$84.0M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.986	+0.011%	$27.4M	$82.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.007	+0.172%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.998	+0.103%	$128.2M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.987	+0.018%	$32.1M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.996	+0.088%	$23.0M	$13.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.989	+0.034%	$54.0M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.996	+0.088%	—	$22.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.003	+0.142%	$340K	$378K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.034	+0.383%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.981	−0.025%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.973	−0.088%	$586K	$2.6M	10x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.994	+0.072%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.986	+0.009%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.998	+0.101%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.991	+0.049%	$5K	$46K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.994	+0.070%	$641K	$685K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.000	+0.116%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.989	+0.038%	$545K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0197%	1h	12.992	+0.055%	$772K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	12.982	−0.024%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0428%	1h	12.994	+0.070%	$344K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	12.997	+0.092%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0597%	8h	13.004	+0.149%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0629%	1h	13.011	+0.203%	$81.4M	$26.4M	10x	as long as short