LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.003%

Price spread now: Lighter against Arcus−0.278%55s7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.408% of the position

Long on Arcus Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.051%−$5 on $10k

Price spread, last 4 days (all we have)+0.305%+$31 · spread now −0.278%, 7d avg −0.077%

Together, before fees+0.254%+ Points / potential airdropLighter: Season 3 · farm board+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.201% cheaper against Arcus than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.077%. The two prices were read 55 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	Arcus LINK-USD	12.959	0.0100	pay 0.0013% / 1h	52m 43s	$181K	$165K	10x
Short	Lighter LINK	12.923	0.0096	get 0.0012% / 1h	52m 43s	$1.9M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Arcus. 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 ArcusbpFee LighterbpOrdersPrice spread, now −0.278%Rate

Funding earned: −$0.84
Price spread: −0.278% → −0.077%: −$20.08
Slippage, 4 orders: −$36.31
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$61.73
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from Arcus: live order book, 5 min ago; Lighter: live order book, 4 min ago.

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 Arcus live order book, 5 min ago	13.93 bp	16.2 bp −$16	27.9 bp −$279	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	2.22 bp	4.7 bp −$5	12.8 bp −$128	77.7 bp −$7,769	doesn't fit

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	12.942	−0.129%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.950	−0.073%	$489K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.943	−0.127%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.314%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0051%	1h	12.947	−0.089%	$773K	$189K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0061%	8h	12.942	−0.131%	$117K	$1.4M	20x	as long as short
Lighter LINKshort	+0.0096%	1h	12.923	−0.278%	$1.9M	$2.8M	10x
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.954	−0.039%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.920	−0.302%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.921	−0.290%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.943	−0.127%	$391K	$310K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.939	−0.152%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.926	−0.254%	$273K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.922	−0.286%	$119.6M	$297.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.915	−0.340%	$83.4M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.918	−0.316%	$27.3M	$81.2M	50x	as long as short
Arcus LINK-USDlong	+0.0100%	1h	12.959	long leg	$181K	$165K	10x
Gate LINK_USDT	+0.0100%	8h	12.940	−0.147%	$127.9M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.921	−0.293%	$32.2M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.939	−0.154%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.934	−0.193%	$53.8M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.936	−0.177%	—	$22.4M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.956	−0.020%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.951	−0.062%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.944	−0.115%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.911	−0.370%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.949	−0.077%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.944	−0.115%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.957	−0.019%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.943	−0.123%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.933	−0.201%	$633K	$703K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.936	−0.181%	$637K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.944	−0.116%	$543K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0137%	1h	12.947	−0.093%	$339K	$388K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.937	−0.170%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.941	−0.140%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0395%	1h	12.945	−0.108%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0436%	1h	12.951	−0.059%	$81.5M	$27.2M	10x	as long as short
dYdX LINK-USD	+0.0597%	1h	12.926	−0.252%	$342K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0611%	8h	12.956	−0.023%	$20.0M	$11.4M	50x	as long as short