LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0024%/8h= +2.6% APRnext payment +$0.03 per $10,000 · paid last 24h −0.004%

Price spread now: Coinbase International against Lighter+0.007%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

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

costs, in and out, $10k−$310.313% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 4 days (all we have)+0.056%+$6 · spread now +0.007%, 7d avg +0.032%

Together, before fees+0.130%+ Points / potential airdropLighter: Season 3 · farm board+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.025% cheaper against Lighter than usual: you would sell low and buy high (spread +0.007% now, against its 7-day average of +0.032%). If the spread goes back, that is −$3 on $10k: about 3.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	12.886	0.0096	pay 0.0012% / 1h	42m 59s	$1.9M	$2.8M	10x
Short	Coinbase International LINK-PERP-INTX	12.887	0.0120	get 0.0015% / 1h	42m 59s	$934K	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.007%Rate

Funding earned: $5.04
Price spread: +0.007% → +0.032%: −$2.52
Slippage, 4 orders: −$21.26
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$28.74
Costs to cover: 0.313%
Break-even: 46.9 days

Slippage from Lighter: live order book, 4 min ago; Coinbase International: live order book, 6 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	2.59 bp	4.2 bp −$4	11.2 bp −$112	76.4 bp −$7,639	doesn't fit
Sell Coinbase International live order book, 6 min ago	2.71 bp	11.8 bp −$12	15.2 bp −$152	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 −0.0089% / S +0.0166%	1h	12.893	+0.054%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.892	+0.047%	$512K	$2.3M	3.7x	as long as short
Orderly PERP_LINK_USDC	+0.0002%	8h	12.882	−0.032%	$94K	$1.1M	20x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.893	+0.057%	$156K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.772%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.874	−0.094%	$3K	$85K	10x	as long as short
Lighter LINKlong	+0.0096%	1h	12.886	long leg	$1.9M	$2.8M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.879	−0.057%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.888	+0.017%	$350K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.889	+0.025%	$1.2M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.885	−0.009%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.886	−0.001%	$119.0M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.877	−0.070%	$83.2M	$74.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.880	−0.047%	$27.0M	$81.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.909	+0.178%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.883	−0.024%	$124.0M	$15.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.888	+0.015%	$34.2M	$58.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.888	+0.015%	$22.8M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.883	−0.024%	$53.9M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.882	−0.032%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.854	−0.247%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.870	−0.124%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.870	−0.124%	$578K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.883	−0.024%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.895	+0.069%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.890	+0.030%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.906	+0.155%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.885	−0.008%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.881	−0.039%	$632K	$787K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.882	−0.030%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.890	+0.034%	$541K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0113%	1h	12.893	+0.054%	$336K	$387K	15x	as long as short
Coinbase International LINK-PERP-INTXshort	+0.0120%	1h	12.887	+0.007%	$934K	$2.8M	50x
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.887	+0.007%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.892	+0.046%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0285%	1h	12.896	+0.075%	$806K	$261K	50x	as long as short
Hyperliquid LINK	+0.0328%	1h	12.901	+0.116%	$80.5M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0397%	1h	12.887	+0.004%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0580%	8h	12.894	+0.062%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0879%	1h	12.884	−0.019%	$343K	$33K	10x	as long as short