LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.010%

Price spread now: Extended against Lighter−0.061%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$230.225% of the position

Long on Lighter Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.061%, 7d avg −0.042%

Together, before fees+0.098%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board+$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	13.091	0.0096	pay 0.0012% / 1h	53m 08s	$2.1M	$2.3M	10x
Short	Extended LINK-USD	13.083	0.0104	get 0.0013% / 1h	53m 08s	$665K	$1.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.061%Rate

Funding earned: $1.68
Price spread: −0.061% → −0.042%: −$1.87
Slippage, 4 orders: −$17.55
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$22.73
Costs to cover: 0.225%
Break-even: 101.7 days

Slippage from Lighter: live order book, 4 min ago; Extended: 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	1.64 bp	4.8 bp −$5	13.8 bp −$138	90.1 bp −$9,011	doesn't fit
Sell Extended live order book, 5 min ago	2.67 bp	7.2 bp −$7	9.5 bp −$95	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 −0.0091% / S +0.0166%	1h	13.090	−0.002%	$1.7M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.085	−0.044%	$347K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.095	+0.036%	$457K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.090	−0.003%	$697K	$107K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.093	+0.017%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.127	+0.281%	$3K	$84K	10x	as long as short
Variational Omni LINK	+0.0031%	8h	13.109	+0.143%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.276%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	13.080	−0.082%	$134K	$1.6M	20x	as long as short
Lighter LINKlong	+0.0096%	1h	13.091	long leg	$2.1M	$2.3M	10x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.086	−0.037%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.093	+0.021%	$399K	$315K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.103	+0.094%	$78.0M	$23.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.095	+0.033%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.085	−0.047%	$274K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.084	−0.051%	$121.0M	$300.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.081	−0.074%	$84.3M	$69.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.087	−0.028%	$27.6M	$84.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.109	+0.140%	$184K	$170K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.087	−0.028%	$130.5M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.089	−0.013%	$35.6M	$55.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.091	+0.002%	$21.7M	$16.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.088	−0.021%	$54.1M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.090	−0.005%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.101	+0.079%	$363K	$370K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.117	+0.199%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.133	+0.323%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.109	+0.140%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.096	+0.041%	$79K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.083	−0.062%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.098	+0.055%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.086	−0.036%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.037	−0.408%	$638K	$905K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	13.083	−0.061%	$665K	$1.9M	25x
Aevo LINK-PERP	+0.0104%	1h	13.090	−0.002%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.095	+0.033%	$989K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.090	−0.005%	$5.2M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.094	+0.028%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0506%	1h	13.096	+0.043%	$6.9M	$7.7M	50x	as long as short
Phemex LINKUSDT	+0.0510%	8h	13.103	+0.094%	$20.2M	$11.5M	50x	as long as short