LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h +0.004%

Price spread now: Lighter against Coinbase International+0.101%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

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

costs, in and out, $10k−$360.360% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$8 on $10k

Price spread, last 3 days (all we have)−0.079%−$8 · spread now +0.101%, 7d avg −0.031%

Together, before fees−0.154%+ Points / potential airdropLighter: Season 3 · farm board−$15 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 0.132% dearer against Coinbase International than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.074	0.0104	pay 0.0013% / 1h	53m 20s	$989K	$2.7M	50x
Short	Lighter LINK	13.087	0.0096	get 0.0012% / 1h	53m 20s	$2.1M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$1.68
Price spread: +0.101% → −0.031%: $13.21
Slippage, 4 orders: −$26.05
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$24.52
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Coinbase International: 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 Coinbase International live order book, 1 min ago	3.06 bp	14.1 bp −$14	17.3 bp −$173	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	1.64 bp	4.7 bp −$5	11.5 bp −$115	71.3 bp −$7,129	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 +0.0166%	1h	13.090	+0.125%	$1.7M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.085	+0.083%	$347K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.097	+0.175%	$457K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.078	+0.028%	$696K	$106K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.093	+0.145%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.127	+0.409%	$3K	$84K	10x	as long as short
Variational Omni LINK	+0.0031%	8h	13.109	+0.271%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.155%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	13.080	+0.046%	$134K	$1.6M	20x	as long as short
Lighter LINKshort	+0.0096%	1h	13.087	+0.101%	$2.1M	$2.3M	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	13.086	+0.090%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.093	+0.149%	$399K	$315K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.105	+0.237%	$78.0M	$23.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.096	+0.166%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.085	+0.081%	$274K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.090	+0.122%	$121.1M	$300.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.085	+0.084%	$84.3M	$69.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.085	+0.084%	$27.6M	$84.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.109	+0.268%	$184K	$170K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.091	+0.130%	$130.6M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.095	+0.161%	$35.7M	$55.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.092	+0.138%	$21.8M	$15.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.094	+0.153%	$54.1M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.091	+0.130%	—	$21.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.086	+0.092%	$362K	$370K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.117	+0.327%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.133	+0.451%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.109	+0.268%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.096	+0.168%	$79K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.083	+0.066%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.090	+0.124%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.075	+0.008%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.060	−0.107%	$639K	$905K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.083	+0.067%	$665K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.090	+0.126%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0104%	1h	13.074	long leg	$989K	$2.7M	50x
BloFin LINK-USDT	+0.0220%	8h	13.132	+0.444%	$5.3M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.094	+0.156%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0507%	1h	13.085	+0.082%	$6.9M	$7.7M	50x	as long as short
Phemex LINKUSDT	+0.0515%	8h	13.092	+0.138%	$20.2M	$11.5M	50x	as long as short