Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0275%/8h= −30.1% APRpaid last 24h −0.080%

Price spread now: Paradex against Reya+0.057%7-day average — · you sell dearer than you buy

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

Long on Reya 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 airdropReya: Active · Paradex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.057% dearer against Reya than usual: you sell high and buy low (spread +0.057% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	13.148	0.0375	pay 0.0047% / 1h	47m 00s	$5K	—	20x
Short	Paradex LINK-USD-PERP	13.156	0.0100	get 0.0100% / 8h	1h 47m	$32K	$3K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Reya. 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 ReyabpFee ParadexbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$57.75
Price spread: +0.057% → 0.000%: $5.66
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$62.09
Costs to cover: 0.100%
Break-even: never at this rate

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

Reya 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 −0.0090% / S +0.0167%	1h	13.140	−0.061%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.161	+0.099%	$349K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.146	−0.018%	$461K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.143	−0.043%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.142	−0.048%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.691%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.144	−0.032%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.137	−0.085%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.144	−0.032%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERPshort	+0.0100%	8h	13.156	+0.057%	$32K	$3K	20x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.155	+0.055%	$399K	$315K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.154	+0.044%	$77.6M	$23.8M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.144	−0.034%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.160	+0.088%	$276K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.148	−0.002%	$121.9M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.145	−0.024%	$84.7M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.148	−0.002%	$27.6M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.170	+0.166%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.142	−0.047%	$130.4M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.149	+0.006%	$36.5M	$55.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.150	+0.014%	$22.3M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.147	−0.009%	$54.6M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.142	−0.047%	—	$21.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.128	−0.151%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.134	−0.104%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.136	−0.093%	$599K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.146	−0.017%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.159	+0.082%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.137	−0.086%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.176	+0.211%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.138	−0.078%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.127	−0.157%	$645K	$903K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.147	−0.013%	$675K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.143	−0.041%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.150	+0.014%	$991K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0142%	1h	13.152	+0.029%	$365K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.140	−0.062%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERPlong	+0.0375%	1h	13.148	long leg	$5K	—	20x
Phemex LINKUSDT	+0.0469%	8h	13.154	+0.044%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0695%	1h	13.145	−0.025%	$6.9M	$8.0M	50x	as long as short