Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.034%

Price spread now: Lighter against BloFin+0.167%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3as in the Price arb table

costs, in and out, $10k−$220.219% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.327%−$33 on $10k

Price spread, last 3 days (all we have)−0.232%−$23 · spread now +0.167%, 7d avg −0.020%

Together, before fees−0.559%+ Points / potential airdropLighter: Season 3 · farm board−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.188% dearer against BloFin than usual: you sell high and buy low (spread +0.167% now, against its 7-day average of −0.020%): +$19 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 5.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin LINK-USDT	13.096	0.0220	pay 0.0220% / 8h	4m 31s	$5.2M	$16.2M	75x
Short	Lighter LINK	13.118	0.0096	get 0.0012% / 1h	4m 31s	$2.0M	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.167%Rate

Funding earned: −$26.04
Price spread: +0.167% → −0.020%: $18.78
Slippage, 4 orders: −$9.93
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$29.19
Costs to cover: 0.219%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Lighter: live order book, 8 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 BloFin live order book, 4 min ago	1.53 bp	9.5 bp −$9	13.6 bp −$136	25.4 bp −$2,545	doesn't fit
Sell Lighter live order book, 8 min ago	1.47 bp	2.5 bp −$2	8.3 bp −$83	66.0 bp −$6,596	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 −0.0091% / S +0.0167%	1h	13.100	+0.033%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.105	+0.072%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.102	+0.049%	$725K	$139K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.101	+0.036%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.093	−0.022%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.315%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.095	−0.008%	$132K	$1.5M	20x	as long as short
Lighter LINKshort	+0.0096%	1h	13.118	+0.167%	$2.0M	$2.7M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.118	+0.166%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.122	+0.202%	$400K	$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	13.121	+0.188%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.121	+0.193%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.123	+0.207%	$121.9M	$305.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.124	+0.214%	$84.6M	$71.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.124	+0.214%	$27.6M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.131	+0.267%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.119	+0.176%	$130.1M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.117	+0.160%	$36.2M	$58.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.122	+0.199%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.118	+0.168%	$54.6M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.118	+0.168%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.086	−0.078%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.097	+0.009%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.107	+0.084%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.100	+0.031%	$152K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.102	+0.046%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.096	+0.003%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.109	+0.099%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.097	+0.008%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.079	−0.128%	$643K	$880K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.117	+0.164%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.101	+0.040%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.111	+0.115%	$993K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0210%	1h	13.109	+0.099%	$362K	$376K	15x	as long as short
BloFin LINK-USDTlong	+0.0220%	8h	13.096	long leg	$5.2M	$16.2M	75x
Hyperliquid LINK	+0.0290%	1h	13.135	+0.298%	$77.9M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.097	+0.010%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.106	+0.078%	$6.9M	$8.3M	50x	as long as short
Phemex LINKUSDT	+0.0489%	8h	13.116	+0.153%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0518%	1h	13.120	+0.180%	$347K	$48K	10x	as long as short