Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.003%

Price spread now: Lighter against Aster−0.021%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$16 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.021%, 7d avg −0.057%

Together, before fees−0.145%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board−$14 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 0.036% dearer against Aster than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster LINKUSDT	13.199	0.0100	pay 0.0100% / 8h	2h 17m	$1.6M	$2.7M	50x
Short	Lighter LINK	13.196	0.0096	get 0.0012% / 1h	17m 23s	$2.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$0.84
Price spread: −0.021% → −0.057%: $3.61
Slippage, 4 orders: −$21.99
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$27.23
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from Aster: live order book, 1 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 Aster live order book, 1 min ago	1.52 bp	16.5 bp −$16	32.4 bp −$324	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	1.96 bp	2.9 bp −$3	11.1 bp −$111	83.8 bp −$8,376	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 −0.0092% / S +0.0166%	1h	13.196	−0.022%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.191	−0.058%	$493K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.185	−0.107%	$717K	$122K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.196	−0.021%	$134K	—	150x	as long as short
dYdX LINK-USD	+0.0017%	1h	13.194	−0.040%	$349K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.185	−0.109%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.054%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0042%	8h	13.189	−0.076%	$135K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0087%	8h	13.164	−0.267%	$3.3M	$1.5M	—	as long as short
Lighter LINKshort	+0.0096%	1h	13.196	−0.021%	$2.1M	$2.4M	10x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.192	−0.056%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.192	−0.053%	$401K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.210	+0.083%	$78.1M	$23.5M	10x	as long as short
Aster LINKUSDTlong	+0.0100%	8h	13.199	long leg	$1.6M	$2.7M	50x
Pacifica LINK	+0.0100%	1h	13.192	−0.054%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.196	−0.023%	$122.3M	$301.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.194	−0.038%	$85.0M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.194	−0.038%	$27.9M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.205	+0.045%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.195	−0.031%	$131.0M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.195	−0.031%	$37.5M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.196	−0.023%	$22.1M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.192	−0.053%	$54.6M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.195	−0.031%	—	$21.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.167	−0.242%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.164	−0.265%	$594K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.168	−0.235%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.198	−0.008%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.176	−0.174%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.196	−0.024%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.179	−0.152%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.157	−0.318%	$646K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.192	−0.050%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.182	−0.126%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.181	−0.137%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.186	−0.099%	$365K	$372K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.164	−0.265%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.193	−0.042%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0462%	8h	13.189	−0.076%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	13.189	−0.074%	$7.0M	$7.8M	50x	as long as short