Funding you earn now, next payment 03:00 UTC−0.0460%/8h= −50.4% APRnext payment −$0.57 per $10,000 · paid last 24h −0.020%
Price spread now: Lighter against Kraken Futures+0.067%7-day average −0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$330.334% of the position
Funding, last 7 days−0.136%−$14 on $10k
+Price spread, last 4 days (all we have)−0.125%−$13 · spread now +0.067%, 7d avg −0.031%
=Together, before fees−0.262%+ Points / potential airdropLighter: Season 3 · farm board−$26 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.098% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of −0.031%): +$10 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.136% in total) that is about 5.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.136% in total (about -7.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.57 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_LINKUSD | 12.961 | 0.0556 | pay 0.0069% / 1h | 38m 48s | $6.8M | $8.0M | 50x |
| Short | Lighter LINK | 12.970 | 0.0096 | get 0.0012% / 1h | 38m 48s | $1.9M | $2.8M | 10x |
Kraken Futures PF_LINKUSD
Lighter LINKFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$96.57
- Price spread: +0.067% → −0.031%
- $9.82
- Slippage, 4 orders
- −$23.38
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$120.13
- Costs to cover
- 0.334%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 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 Kraken Futures live order book, 5 min ago | 3.84 bp | 12.1 bp −$12 | 17.0 bp −$170 | 49.0 bp −$4,896 | doesn't fit |
| Sell Lighter live order book, 8 min ago | 1.34 bp | 2.8 bp −$3 | 11.6 bp −$116 | 69.0 bp −$6,895 | 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 | 12.959 | −0.010% | $1.8M | — | 200x | as long as short |
| Kalshi KXLINKPERP | 0.0000% | 8h | 12.980 | +0.148% | $480K | $2.2M | 3.7x | as long as short |
| gTrade (Gains Network) LINK/USD | L +0.0004% / S −0.0009% | 1h | 12.960 | −0.009% | $159K | — | 150x | as long as short |
| Deribit LINK_USDC-PERPETUAL | +0.0028% | 1h | 12.964 | +0.027% | $770K | $193K | 50x | as long as short |
| Injective LINK/USDC PERP | +0.0033% | 1h | 12.400 | −4.327% | $4K | $48K | 12x | as long as short |
| Coinbase International LINK-PERP-INTX | +0.0064% | 1h | 12.966 | +0.040% | $937K | $2.7M | 50x | as long as short |
| Orderly PERP_LINK_USDC | +0.0067% | 8h | 12.956 | −0.037% | $117K | $1.5M | 20x | as long as short |
| Lighter LINKshort | +0.0096% | 1h | 12.970 | +0.067% | $1.9M | $2.8M | 10x | |
| Phoenix LINK | +0.0098% | 1h | 12.983 | +0.170% | $3K | $84K | 10x | as long as short |
| Paradex LINK-USD-PERP | +0.0100% | 8h | 12.967 | +0.044% | $31K | $2K | 20x | as long as short |
GMX LINK/USD [LINK-USDC]
Kalshi KXLINKPERP
gTrade (Gains Network) LINK/USD
Deribit LINK_USDC-PERPETUAL
Injective LINK/USDC PERP
Coinbase International LINK-PERP-INTX
Orderly PERP_LINK_USDC
Phoenix LINK
Paradex LINK-USD-PERPShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado LINK-PERP | +0.0100% | 1h | 12.972 | +0.086% | $394K | $315K | 10x | as long as short |
| Aster LINKUSDT | +0.0100% | 8h | 12.965 | +0.029% | $1.3M | $2.3M | 50x | as long as short |
| Pacifica LINK | +0.0100% | 1h | 12.971 | +0.077% | $274K | $170K | 10x | as long as short |
| Binance LINKUSDT | +0.0100% | 8h | 12.970 | +0.071% | $119.6M | $296.3M | 75x | as long as short |
| Bybit LINKUSDT | +0.0100% | 8h | 12.967 | +0.048% | $83.8M | $71.2M | 75x | as long as short |
| OKX LINK-USDT-SWAP | +0.0100% | 8h | 12.966 | +0.040% | $27.4M | $81.9M | 50x | as long as short |
| Arcus LINK-USD | +0.0100% | 1h | 12.990 | +0.225% | $182K | $165K | 10x | as long as short |
| Gate LINK_USDT | +0.0100% | 8h | 12.963 | +0.017% | $128.1M | $12.7M | 75x | as long as short |
| MEXC LINK_USDT | +0.0100% | 8h | 12.968 | +0.055% | $32.0M | $56.9M | 300x | as long as short |
| KuCoin LINKUSDTM | +0.0100% | 8h | 12.965 | +0.032% | $23.0M | $13.6M | 75x | as long as short |
| Bitget LINKUSDT | +0.0100% | 8h | 12.970 | +0.071% | $54.0M | $30.0M | 75x | as long as short |
| BingX LINK-USDT | +0.0100% | 8h | 12.964 | +0.025% | — | $22.6M | — | as long as short |
| Backpack LINK_USDC_PERP | +0.0100% | 1h | 12.968 | +0.055% | $339K | $378K | 15x | as long as short |
| Variational Omni LINK | +0.0100% | 8h | 12.971 | +0.078% | $3.4M | $1.6M | — | as long as short |
| edgeX LINKUSDC | +0.0100% | 4h | 12.977 | +0.127% | $43K | $305K | 20x | as long as short |
| GRVT LINK_USDT_Perp | +0.0100% | 8h | 13.011 | +0.384% | $583K | $2.6M | 10x | as long as short |
| ApeX Omni LINKUSDT | +0.0100% | 1h | 13.011 | +0.387% | $133K | $671K | 50x | as long as short |
| Polymarket Perps LINK-USD | +0.0100% | 1h | 12.978 | +0.133% | $80K | $70K | 10x | as long as short |
| Derive LINK-PERP | +0.0100% | 1h | 12.960 | −0.006% | $16K | $22K | 10x | as long as short |
| SunX LINK-USDT | +0.0100% | 8h | 12.984 | +0.180% | $33K | $1.5M | 30x | as long as short |
| SoDEX LINK-USD | +0.0100% | 1h | 12.960 | −0.006% | $13K | $49K | 10x | as long as short |
| HTX LINK-USDT | +0.0100% | 8h | 12.959 | −0.011% | $639K | $688K | 75x | as long as short |
| Extended LINK-USD | +0.0104% | 1h | 12.958 | −0.020% | $692K | $2.0M | 25x | as long as short |
| Aevo LINK-PERP | +0.0104% | 1h | 12.961 | +0.005% | $544K | $2K | 3x | as long as short |
| BloFin LINK-USDT | +0.0220% | 8h | 12.966 | +0.040% | $5.2M | $15.7M | 75x | as long as short |
| dYdX LINK-USD | +0.0375% | 1h | 12.967 | +0.048% | $343K | $30K | 10x | as long as short |
| Reya LINKRUSDPERP | +0.0386% | 1h | 12.971 | +0.077% | $4K | — | 20x | as long as short |
| Kraken Futures PF_LINKUSDlong | +0.0556% | 1h | 12.961 | long leg | $6.8M | $8.0M | 50x | |
| Phemex LINKUSDT | +0.0618% | 8h | 12.976 | +0.117% | $20.0M | $11.6M | 50x | as long as short |
| Hyperliquid LINK | +0.0659% | 1h | 12.985 | +0.187% | $81.2M | $26.9M | 10x | as long as short |
Nado LINK-PERP
Aster LINKUSDT
Pacifica LINK
Binance LINKUSDT
Bybit LINKUSDT
OKX LINK-USDT-SWAP
Arcus LINK-USD
Gate LINK_USDT
MEXC LINK_USDT
KuCoin LINKUSDTM
Bitget LINKUSDT
BingX LINK-USDT
Backpack LINK_USDC_PERP
Variational Omni LINK
edgeX LINKUSDC
GRVT LINK_USDT_Perp
ApeX Omni LINKUSDT
Polymarket Perps LINK-USD
Derive LINK-PERP
SunX LINK-USDT
SoDEX LINK-USD
HTX LINK-USDT
Extended LINK-USD
Aevo LINK-PERP
BloFin LINK-USDT
dYdX LINK-USD
Reya LINKRUSDPERP
Phemex LINKUSDT
Hyperliquid LINK