Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.002%

Price spread now: Lighter against Binance+0.006%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$180.179% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 7 days+0.051%+$5 · spread now +0.006%, 7d avg −0.020%

Together, before fees−0.039%+ Points / potential airdropLighter: Season 3 · farm board−$4 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 0.026% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LINKUSDT	13.156	0.0100	pay 0.0100% / 8h	1h 23m	$122.1M	$303.0M	75x
Short	Lighter LINK	13.156	0.0096	get 0.0012% / 1h	23m 14s	$2.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$0.84
Price spread: +0.006% → −0.020%: $2.6
Slippage, 4 orders: −$7.87
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$16.11
Costs to cover: 0.179%
Break-even: never at this rate

Slippage from Binance: 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 Binance live order book, 5 min ago	0.38 bp	5.8 bp −$6	11.3 bp −$113	38.9 bp −$3,893	126.1 bp −$63.1K
Sell Lighter live order book, 4 min ago	2.23 bp	2.6 bp −$3	10.8 bp −$108	70.5 bp −$7,045	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	13.155	−0.007%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.142	−0.101%	$348K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.135	−0.159%	$460K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.159	+0.022%	$719K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.155	−0.005%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.744%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.138	−0.132%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.150	−0.043%	$133K	$1.5M	20x	as long as short
Lighter LINKshort	+0.0096%	1h	13.156	+0.006%	$2.1M	$2.4M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.135	−0.157%	$32K	$3K	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	13.150	−0.043%	$402K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.165	+0.071%	$77.6M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.152	−0.031%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.142	−0.106%	$275K	$148K	10x	as long as short
Binance LINKUSDTlong	+0.0100%	8h	13.156	long leg	$122.1M	$303.0M	75x
Bybit LINKUSDT	+0.0100%	8h	13.157	+0.010%	$85.0M	$70.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.155	−0.005%	$27.6M	$85.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.160	+0.033%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.156	+0.003%	$130.5M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.154	−0.013%	$36.5M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.152	−0.028%	$22.5M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.155	−0.005%	$54.8M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.156	+0.003%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.119	−0.280%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.123	−0.247%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.134	−0.162%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.133	−0.172%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.157	+0.010%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.150	−0.046%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.166	+0.080%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.153	−0.020%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.121	−0.261%	$645K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.150	−0.047%	$675K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.157	+0.008%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.146	−0.073%	$991K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0197%	1h	13.143	−0.096%	$364K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.150	−0.043%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.148	−0.055%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0474%	8h	13.168	+0.094%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0695%	1h	13.158	+0.015%	$7.0M	$8.1M	50x	as long as short