Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h +0.013%

Price spread now: Paradex against Injective+6.382%99s7-day average — · you sell dearer than you buy

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

Long on Injective 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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and Paradex is 6.382% dearer against Injective than usual: you sell high and buy low: +$638 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	31m 37s	$4K	$48K	12x
Short	Paradex LINK-USD-PERP	13.191	0.0099	get 0.0099% / 8h	7h 31m	$32K	$3K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Injective. 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 InjectivebpFee ParadexbpOrdersPrice spread, now +6.382%Rate

Funding earned: $13.87
Price spread: +6.382% → 0.000%: $638.2
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: $648.05
Costs to cover: 0.040%
Break-even: from the start

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

Injective 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 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	13.180	+6.293%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.186	+6.338%	$476K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.180	+6.290%	$134K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0031%	1h	13.190	+6.368%	$783K	$211K	50x	as long as short
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Phoenix LINK	+0.0036%	1h	13.209	+6.521%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0049%	8h	13.179	+6.282%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.185	+6.334%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERPshort	+0.0099%	8h	13.191	+6.382%	$32K	$3K	20x
Nado LINK-PERP	+0.0100%	1h	13.174	+6.244%	$404K	$309K	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	13.185	+6.330%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.192	+6.384%	$276K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.189	+6.360%	$122.6M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.183	+6.315%	$84.9M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.184	+6.323%	$27.8M	$84.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.203	+6.476%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.191	+6.379%	$130.6M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.191	+6.379%	$37.2M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.189	+6.363%	$23.0M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.191	+6.379%	$54.9M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.193	+6.395%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.213	+6.560%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.198	+6.433%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.195	+6.411%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.205	+6.492%	$154K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.176	+6.258%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.182	+6.306%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.195	+6.415%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.186	+6.339%	$5K	$28K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.169	+6.206%	$648K	$853K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.190	+6.369%	$670K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.186	+6.339%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.187	+6.347%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0191%	1h	13.196	+6.419%	$368K	$368K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.196	+6.419%	$5.3M	$16.0M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.195	+6.411%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0381%	1h	13.171	+6.218%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0406%	1h	13.186	+6.339%	$349K	$48K	10x	as long as short
Phemex LINKUSDT	+0.0519%	8h	13.200	+6.452%	$20.4M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0590%	1h	13.204	+6.484%	$81.7M	$25.1M	10x	as long as short