Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.003%

Price spread now: Lighter against KuCoin−0.035%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$290.287% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.035%, 7d avg −0.016%

Together, before fees−0.052%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin LINKUSDTM	12.919	0.0100	pay 0.0100% / 8h	7h 57m	$22.9M	$12.2M	75x
Short	Lighter LINK	12.914	0.0096	get 0.0012% / 1h	57m 34s	$1.9M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$0.84
Price spread: −0.035% → −0.016%: −$1.95
Slippage, 4 orders: −$16.7
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$31.49
Costs to cover: 0.287%
Break-even: never at this rate

Slippage from KuCoin: live order book, 11 min ago; Lighter: live order book, 5 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 KuCoin live order book, 11 min ago	0.77 bp	12.4 bp −$12	19.8 bp −$198	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	2.05 bp	2.6 bp −$3	9.3 bp −$93	65.0 bp −$6,497	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
Orderly PERP_LINK_USDC	−0.0100%	8h	12.897	−0.170%	$90K	$1.0M	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.901	−0.140%	$1.7M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	12.908	−0.085%	$344K	$45K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.914	−0.039%	$515K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.919	−0.001%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.017%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.906	−0.097%	$6.4M	$8.4M	50x	as long as short
Phoenix LINK	+0.0074%	1h	12.910	−0.071%	$3K	$85K	10x	as long as short
Lighter LINKshort	+0.0096%	1h	12.914	−0.035%	$1.9M	$2.8M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.915	−0.032%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.912	−0.050%	$349K	$336K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.919	+0.004%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.911	−0.061%	$275K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.918	−0.007%	$119.4M	$297.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.913	−0.046%	$83.7M	$73.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.914	−0.039%	$27.2M	$80.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.930	+0.085%	$181K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.905	−0.108%	$134.0M	$17.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.918	−0.008%	$34.9M	$57.8M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	12.919	long leg	$22.9M	$12.2M	75x
Bitget LINKUSDT	+0.0100%	8h	12.913	−0.046%	$53.9M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.915	−0.031%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.879	−0.311%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.892	−0.205%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.889	−0.230%	$578K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.899	−0.155%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.918	−0.008%	$82K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.886	−0.259%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.912	−0.056%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.902	−0.132%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.891	−0.218%	$630K	$750K	75x	as long as short
Phemex LINKUSDT	+0.0100%	8h	12.914	−0.039%	$19.9M	$11.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.911	−0.064%	$617K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.911	−0.066%	$541K	$2K	3x	as long as short
Hyperliquid LINK	+0.0110%	1h	12.924	+0.039%	$80.6M	$28.0M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0159%	1h	12.904	−0.116%	$335K	$385K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.909	−0.077%	$928K	$3.0M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.887	−0.248%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0261%	1h	12.910	−0.068%	$807K	$268K	50x	as long as short
Reya LINKRUSDPERP	+0.0402%	1h	12.912	−0.052%	$4K	—	20x	as long as short