Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.003%

Price spread now: BingX against Lighter−0.008%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$300.299% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 7 days−0.048%−$5 · spread now −0.008%, 7d avg +0.009%

Together, before fees+0.079%+ Points / potential airdropLighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	13.206	0.0096	pay 0.0012% / 1h	40m 21s	$2.1M	$2.4M	10x
Short	BingX LINK-USDC	13.205	0.0100	get 0.0100% / 8h	1h 40m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.008%Rate

Funding earned: $0.84
Price spread: −0.008% → +0.009%: −$1.74
Slippage, 4 orders: −$19.86
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$30.77
Costs to cover: 0.299%
Break-even: 263.4 days

Slippage from Lighter: live order book, 2 min ago; BingX: live order book, 12 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, 2 min ago	1.89 bp	2.8 bp −$3	9.0 bp −$90	71.0 bp −$7,097	doesn't fit
Sell BingX live order book, 12 min ago	0.76 bp	12.7 bp −$13	26.3 bp −$263	85.7 bp −$8,569	439.0 bp −$219.5K

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	13.205	−0.010%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.205	−0.005%	$350K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.209	+0.023%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.207	+0.010%	$721K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.205	−0.011%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.104%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.208	+0.017%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.199	−0.054%	$134K	$1.5M	20x	as long as short
Lighter LINKlong	+0.0096%	1h	13.206	long leg	$2.1M	$2.4M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.200	−0.049%	$32K	$3K	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	13.200	−0.046%	$400K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.215	+0.067%	$78.0M	$23.8M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.205	−0.006%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.203	−0.023%	$277K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.204	−0.016%	$122.5M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.202	−0.031%	$85.1M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.204	−0.016%	$27.8M	$85.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.216	+0.075%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.204	−0.016%	$131.1M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.203	−0.023%	$36.8M	$56.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.206	−0.001%	$22.3M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.202	−0.031%	$54.9M	$30.3M	75x	as long as short
BingX LINK-USDCshort	+0.0100%	8h	13.205	−0.008%	—	$6.6M	—
Variational Omni LINK	+0.0100%	8h	13.205	−0.008%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.181	−0.190%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.165	−0.311%	$594K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.172	−0.258%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.204	−0.016%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.201	−0.042%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.220	+0.104%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.203	−0.023%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.197	−0.073%	$649K	$898K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.200	−0.047%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.204	−0.017%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.202	−0.031%	$995K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0186%	1h	13.211	+0.037%	$367K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.203	−0.023%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.202	−0.029%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0452%	8h	13.211	+0.037%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0692%	1h	13.212	+0.041%	$7.0M	$8.0M	50x	as long as short