Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.006%

Price spread now: Lighter against Gate−0.009%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 7 days+0.035%+$3 · spread now −0.009%, 7d avg −0.013%

Together, before fees−0.030%+ Points / potential airdropLighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	13.154	0.0100	pay 0.0100% / 8h	7h 20m	$130.3M	$12.4M	75x
Short	Lighter LINK	13.153	0.0096	get 0.0012% / 1h	20m 41s	$2.0M	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$0.84
Price spread: −0.009% → −0.013%: $0.37
Slippage, 4 orders: −$20.74
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$36.21
Costs to cover: 0.357%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Lighter: live order book, 6 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 Gate live order book, 3 min ago	1.90 bp	18.1 bp −$18	24.1 bp −$241	38.6 bp −$3,856	81.2 bp −$40.6K
Sell Lighter live order book, 6 min ago	1.14 bp	1.4 bp −$1	13.8 bp −$138	77.3 bp −$7,733	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	13.162	+0.058%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.166	+0.091%	$475K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.161	+0.055%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.732%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.193	+0.296%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	13.160	+0.046%	$133K	$1.5M	20x	as long as short
Lighter LINKshort	+0.0096%	1h	13.153	−0.009%	$2.0M	$2.7M	10x
Paradex LINK-USD-PERP	+0.0099%	8h	13.211	+0.435%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.156	+0.015%	$404K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.164	+0.076%	$1.4M	$3.0M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	13.155	+0.004%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.152	−0.012%	$122.2M	$301.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.153	−0.008%	$84.8M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.148	−0.046%	$27.6M	$84.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.174	+0.152%	$185K	$172K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	13.154	long leg	$130.3M	$12.4M	75x
MEXC LINK_USDT	+0.0100%	8h	13.154	0.000%	$36.9M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.156	+0.015%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.157	+0.023%	$54.8M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.156	+0.015%	—	$20.9M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.157	+0.025%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.172	+0.134%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.202	+0.365%	$601K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.176	+0.167%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.162	+0.061%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.160	+0.045%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.176	+0.166%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.163	+0.068%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.145	−0.066%	$647K	$850K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.151	−0.019%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.164	+0.077%	$552K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0115%	1h	13.169	+0.117%	$782K	$211K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.162	+0.061%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0181%	1h	13.169	+0.114%	$366K	$365K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.165	+0.084%	$5.2M	$15.9M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.172	+0.139%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.158	+0.031%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0428%	1h	13.160	+0.048%	$349K	$48K	10x	as long as short
Hyperliquid LINK	+0.0560%	1h	13.170	+0.122%	$81.4M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0635%	8h	13.179	+0.190%	$20.4M	$11.6M	50x	as long as short