Funding arb · Price arb /

LINK

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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: Bitget against Lighter−0.046%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.046%, 7d avg 0.000%

Together, before fees+0.158%+ Points / potential airdropLighter: Season 3 · farm board+$16 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: Bitget is 0.045% cheaper against Lighter than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	13.060	0.0096	pay 0.0012% / 1h	5m 05s	$1.9M	$2.9M	10x
Short	Bitget LINKUSDT	13.054	0.0100	get 0.0100% / 8h	7h 05m	$54.6M	$28.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.046%Rate

Funding earned: $0.84
Price spread: −0.046% → 0.000%: −$4.55
Slippage, 4 orders: −$10.13
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$25.84
Costs to cover: 0.221%
Break-even: 222.3 days

Slippage from Lighter: live order book, 12 min ago; Bitget: live order book, 4 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, 12 min ago	1.68 bp	3.0 bp −$3	10.5 bp −$105	66.3 bp −$6,633	doesn't fit
Sell Bitget live order book, 4 min ago	0.38 bp	8.0 bp −$8	16.3 bp −$163	32.8 bp −$3,285	doesn't fit

LINK on 39 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	−0.0128%	8h	13.054	−0.046%	$91K	$916K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	13.071	+0.082%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.072	+0.088%	$501K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	13.070	+0.076%	$107K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.054%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	13.065	+0.039%	$6.5M	$8.3M	50x	as long as short
Phoenix LINK	+0.0087%	1h	13.062	+0.017%	$3K	$85K	10x	as long as short
Lighter LINKlong	+0.0096%	1h	13.060	long leg	$1.9M	$2.9M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.064	+0.028%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.053	−0.050%	$351K	$315K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	13.069	+0.068%	$81.6M	$27.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.062	+0.015%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.064	+0.034%	$278K	$172K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.055	−0.038%	$120.7M	$287.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.053	−0.054%	$84.6M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.058	−0.015%	$27.5M	$77.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.078	+0.138%	$183K	$86K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.063	+0.023%	$135.2M	$18.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.060	0.000%	$36.3M	$60.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.066	+0.046%	$23.2M	$12.2M	75x	as long as short
Bitget LINKUSDTshort	+0.0100%	8h	13.054	−0.046%	$54.6M	$28.5M	75x
BingX LINK-USDC	+0.0100%	8h	13.059	−0.008%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.064	+0.031%	$339K	$371K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.065	+0.041%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.057	−0.023%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.057	−0.024%	$591K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.066	+0.046%	$134K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.062	+0.015%	$83K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.068	+0.058%	$34K	$1.3M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.061	+0.008%	$15K	$59K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.037	−0.175%	$626K	$679K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.056	−0.033%	$624K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.062	+0.018%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	13.050	−0.077%	$937K	$3.2M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0194%	1h	13.066	+0.050%	$872K	$322K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.062	+0.015%	$5.3M	$16.1M	75x	as long as short
Phemex LINKUSDT	+0.0262%	8h	13.074	+0.107%	$20.2M	$11.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0404%	1h	13.052	−0.062%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0869%	1h	13.069	+0.068%	$351K	$48K	10x	as long as short