Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.003%

Price spread now: Lighter against Bitget+0.012%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

Price spread, last 7 days+0.013%+$1 · spread now +0.012%, 7d avg +0.001%

Together, before fees−0.098%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget LINKUSDT	12.961	0.0100	pay 0.0100% / 8h	4h 54m	$53.9M	$29.6M	75x
Short	Lighter LINK	12.963	0.0096	get 0.0012% / 1h	54m 42s	$1.9M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$0.84
Price spread: +0.012% → +0.001%: $1.08
Slippage, 4 orders: −$11.65
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$23.41
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Lighter: live order book, 7 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 Bitget live order book, 4 min ago	0.77 bp	8.5 bp −$9	11.0 bp −$110	19.9 bp −$1,985	doesn't fit
Sell Lighter live order book, 7 min ago	2.16 bp	3.6 bp −$4	10.6 bp −$106	73.6 bp −$7,356	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	12.955	−0.046%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.952	−0.070%	$489K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.956	−0.037%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.328%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0061%	8h	12.955	−0.046%	$117K	$1.4M	20x	as long as short
Lighter LINKshort	+0.0096%	1h	12.963	+0.012%	$1.9M	$2.8M	10x
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.964	+0.023%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0098%	1h	12.920	−0.318%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.955	−0.047%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.946	−0.112%	$392K	$310K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.964	+0.023%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.962	+0.008%	$273K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.961	+0.001%	$119.9M	$297.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.952	−0.069%	$83.6M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.951	−0.077%	$27.4M	$81.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.967	+0.046%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.958	−0.023%	$128.0M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.956	−0.039%	$32.3M	$55.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.959	−0.015%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDTlong	+0.0100%	8h	12.961	long leg	$53.9M	$29.6M	75x
BingX LINK-USDC	+0.0100%	8h	12.961	0.000%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.956	−0.036%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.913	−0.372%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.944	−0.131%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.911	−0.386%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.958	−0.023%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.957	−0.032%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.973	+0.089%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.955	−0.046%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.942	−0.148%	$634K	$704K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.960	−0.007%	$637K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.957	−0.031%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0128%	1h	12.963	+0.017%	$773K	$184K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0166%	1h	12.969	+0.062%	$340K	$389K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.960	−0.008%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.948	−0.097%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.959	−0.014%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0459%	1h	12.977	+0.123%	$81.6M	$27.2M	10x	as long as short
dYdX LINK-USD	+0.0567%	1h	12.963	+0.016%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0616%	8h	12.967	+0.046%	$20.0M	$11.4M	50x	as long as short