It is well-known that palindromes can be recognized in linear time on $2$-tape Turing machines, but not on single-tape Turing machines (in which case the time needed is quadratic). The linear-time algorithm uses a copy of the input, and thus also uses a linear space.
Can we recognize palindromes in linear time of a multitape Turing machine, using only a logarithmic space? More generally, what kind of space-time trade-off is known for palindromes?