Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: HTX against Lighter−0.132%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$450.451% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.151%+$15 on $10k

Price spread, last 3 days (all we have)+0.126%+$13 · spread now −0.132%, 7d avg −0.064%

Together, before fees+0.278%+ Points / potential airdropLighter: Season 3 · farm board+$28 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: HTX is 0.068% cheaper against Lighter than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	13.182	0.0096	pay 0.0012% / 1h	1m 12s	$2.0M	$2.8M	10x
Short	HTX LINK-USDT	13.165	0.0100	get 0.0100% / 8h	1m 12s	$648K	$880K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.132%Rate

Funding earned: $0.84
Price spread: −0.132% → −0.064%: −$6.82
Slippage, 4 orders: −$33.11
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$51.09
Costs to cover: 0.451%
Break-even: 432.8 days

Slippage from Lighter: live order book, 6 min ago; HTX: 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, 6 min ago	1.13 bp	1.4 bp −$1	6.8 bp −$68	70.5 bp −$7,053	doesn't fit
Sell HTX live order book, 12 min ago	6.76 bp	29.0 bp −$29	190.5 bp −$1,905	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 +0.0167%	1h	13.182	+0.004%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.188	+0.046%	$478K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.190	+0.063%	$730K	$139K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.184	+0.013%	$134K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.136	−0.346%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.932%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.179	−0.023%	$133K	$1.5M	20x	as long as short
Lighter LINKlong	+0.0096%	1h	13.182	long leg	$2.0M	$2.8M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.175	−0.053%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.177	−0.038%	$402K	$311K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.187	+0.041%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.180	−0.012%	$277K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.183	+0.009%	$122.5M	$305.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.179	−0.023%	$85.1M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.186	+0.030%	$27.9M	$86.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.190	+0.061%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.183	+0.008%	$130.7M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.184	+0.015%	$36.7M	$58.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.186	+0.030%	$22.8M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.180	−0.015%	$54.9M	$30.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.181	−0.007%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.177	−0.040%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.134	−0.365%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.096	−0.652%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.142	−0.303%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.186	+0.030%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.183	+0.004%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.199	+0.131%	$33K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.184	+0.015%	$5K	$35K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	13.165	−0.132%	$648K	$880K	75x
Extended LINK-USD	+0.0104%	1h	13.180	−0.012%	$703K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.186	+0.030%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.185	+0.023%	$1.0M	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0216%	1h	13.196	+0.106%	$364K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.180	−0.015%	$5.2M	$16.4M	75x	as long as short
Hyperliquid LINK	+0.0289%	1h	13.201	+0.144%	$78.7M	$24.2M	10x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.181	−0.009%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0466%	8h	13.195	+0.099%	$20.4M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0476%	1h	13.189	+0.057%	$6.9M	$8.3M	50x	as long as short
dYdX LINK-USD	+0.0495%	1h	13.176	−0.045%	$349K	$48K	10x	as long as short