LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0209%/8h= −22.9% APRnext payment −$0.26 per $10,000 · paid last 24h −0.028%

Price spread now: Lighter against dYdX−0.014%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$208as in the Funding arb table

Net, price: spread back to 7d avg − costs−$168as in the Price arb table

costs, in and out, $10k−$1681.685% of the position

Long on dYdX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.397%−$40 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now −0.014%, 7d avg −0.021%

Together, before fees−0.384%+ Points / potential airdropLighter: Season 3 · farm board−$38 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX LINK-USD	12.992	0.0305	pay 0.0038% / 1h	29m 36s	$344K	$45K	10x
Short	Lighter LINK	12.990	0.0096	get 0.0012% / 1h	29m 36s	$1.9M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against dYdX. 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 dYdXbpFee LighterbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$43.97
Price spread: −0.014% → −0.021%: $0.63
Slippage, 4 orders: −$158.49
Fee dYdX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$211.83
Costs to cover: 1.685%
Break-even: never at this rate

Slippage from dYdX: live order book, 40 min ago; Lighter: live order book, 3 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 dYdX live order book, 40 min ago	46.74 bp	51.7 bp −$52	54.4 bp −$544	60.9 bp −$6,088	282.5 bp −$141.3K
Sell Lighter live order book, 3 min ago	1.16 bp	1.2 bp −$1	7.4 bp −$74	70.4 bp −$7,037	doesn't fit

LINK on 39 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	12.977	−0.114%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.977	−0.117%	$471K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.978	−0.109%	$149K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.556%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	12.978	−0.106%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	12.980	−0.092%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.951	−0.315%	$952K	$2.7M	50x	as long as short
Lighter LINKshort	+0.0096%	1h	12.990	−0.014%	$1.9M	$2.8M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.020	+0.217%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.975	−0.134%	$394K	$317K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.994	+0.016%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.991	−0.007%	$275K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.990	−0.018%	$119.3M	$303.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.980	−0.092%	$83.7M	$72.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.983	−0.068%	$27.3M	$84.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.000	+0.062%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.984	−0.061%	$128.2M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.990	−0.015%	$33.1M	$59.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.991	−0.007%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.987	−0.038%	$54.1M	$30.9M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.986	−0.045%	—	$23.0M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.001	+0.070%	$338K	$387K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.952	−0.303%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.963	−0.226%	$43K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.943	−0.375%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.961	−0.238%	$133K	$677K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.980	−0.092%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.980	−0.093%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.991	−0.007%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.987	−0.038%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.950	−0.322%	$639K	$860K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.980	−0.088%	$661K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.985	−0.053%	$545K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0297%	1h	12.990	−0.018%	$771K	$212K	50x	as long as short
dYdX LINK-USDlong	+0.0305%	1h	12.992	long leg	$344K	$45K	10x
Reya LINKRUSDPERP	+0.0384%	1h	12.975	−0.133%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0400%	1h	13.008	+0.124%	$79.8M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.993	+0.005%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0634%	8h	12.994	+0.016%	$20.1M	$11.5M	50x	as long as short