LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.003%

Price spread now: Arcus against Lighter+0.145%7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on Lighter Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.173%−$17 · spread now +0.145%, 7d avg +0.077%

Together, before fees−0.121%+ Points / potential airdropLighter: Season 3 · farm board−$12 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: Arcus is 0.068% dearer against Lighter than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	12.940	0.0096	pay 0.0012% / 1h	52m 55s	$1.9M	$2.8M	10x
Short	Arcus LINK-USD	12.959	0.0100	get 0.0013% / 1h	52m 55s	$181K	$165K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Lighter. 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 LighterbpFee ArcusbpOrdersPrice spread, now +0.145%Rate

Funding earned: $0.84
Price spread: +0.145% → +0.077%: $6.83
Slippage, 4 orders: −$36.31
Fee Lighter: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$33.14
Costs to cover: 0.408%
Break-even: 283.2 days

Slippage from Lighter: live order book, 4 min ago; Arcus: 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 Lighter live order book, 4 min ago	2.22 bp	3.6 bp −$4	10.0 bp −$100	69.6 bp −$6,959	doesn't fit
Sell Arcus live order book, 5 min ago	13.93 bp	16.3 bp −$16	26.0 bp −$260	doesn't fit	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	12.942	+0.017%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.950	+0.073%	$489K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.943	+0.019%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.175%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0051%	1h	12.947	+0.056%	$773K	$189K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0061%	8h	12.942	+0.014%	$117K	$1.4M	20x	as long as short
Lighter LINKlong	+0.0096%	1h	12.940	long leg	$1.9M	$2.8M	10x
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.954	+0.107%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.920	−0.158%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.942	+0.012%	$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	12.943	+0.018%	$391K	$310K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.945	+0.037%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.946	+0.043%	$273K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.935	−0.040%	$119.7M	$297.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.931	−0.071%	$83.5M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.935	−0.040%	$27.3M	$81.6M	50x	as long as short
Arcus LINK-USDshort	+0.0100%	1h	12.959	+0.145%	$181K	$165K	10x
Gate LINK_USDT	+0.0100%	8h	12.938	−0.017%	$127.8M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.936	−0.032%	$32.3M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.944	+0.029%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.935	−0.040%	$53.8M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.936	−0.032%	—	$22.4M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.956	+0.125%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.951	+0.083%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.944	+0.030%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.911	−0.226%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.949	+0.068%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.944	+0.030%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.957	+0.127%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.943	+0.022%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.933	−0.056%	$633K	$703K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.936	−0.036%	$637K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.944	+0.029%	$543K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0137%	1h	12.947	+0.053%	$339K	$388K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.937	−0.025%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.941	+0.005%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0395%	1h	12.945	+0.038%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0445%	1h	12.957	+0.130%	$81.5M	$27.2M	10x	as long as short
dYdX LINK-USD	+0.0483%	1h	12.949	+0.066%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0611%	8h	12.956	+0.122%	$20.0M	$11.4M	50x	as long as short