LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0195%/8h= +21.3% APRnext payment +$0.24 per $10,000 · paid last 24h +0.051%

Price spread now: Hyperliquid against Lighter+0.150%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$180.176% of the position

Long on Lighter Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.167%+$17 on $10k

Price spread, last 7 days−0.212%−$21 · spread now +0.150%, 7d avg +0.073%

Together, before fees−0.045%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Hyperliquid is 0.077% dearer against Lighter than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	13.125	0.0096	pay 0.0012% / 1h	16m 08s	$2.0M	$2.7M	10x
Short	Hyperliquid LINK	13.145	0.0291	get 0.0036% / 1h	16m 08s	$78.0M	$24.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.150%Rate

Funding earned: $40.85
Price spread: +0.150% → +0.073%: $7.7
Slippage, 4 orders: −$8.63
Fee Lighter: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $30.91
Costs to cover: 0.176%
Break-even: 1.7 days

Slippage from Lighter: live order book, 6 min ago; Hyperliquid: live order book, 8 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	1.74 bp	1.8 bp −$2	9.9 bp −$99	78.3 bp −$7,835	doesn't fit
Sell Hyperliquid live order book, 8 min ago	1.14 bp	7.2 bp −$7	12.2 bp −$122	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	13.125	−0.001%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.135	+0.075%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.128	+0.021%	$724K	$136K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.125	−0.002%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.123	−0.014%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.526%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.124	−0.010%	$133K	$1.5M	20x	as long as short
Lighter LINKlong	+0.0096%	1h	13.125	long leg	$2.0M	$2.7M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.126	+0.008%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.127	+0.017%	$401K	$310K	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	13.127	+0.013%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.131	+0.041%	$276K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.125	0.000%	$121.9M	$305.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.124	−0.010%	$84.6M	$71.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.127	+0.013%	$27.6M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.137	+0.090%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.126	+0.006%	$130.2M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.126	+0.006%	$36.5M	$58.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.130	+0.036%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.128	+0.021%	$54.6M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.126	+0.006%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.125	−0.005%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.118	−0.054%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.119	−0.045%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.123	−0.017%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.127	+0.013%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.122	−0.023%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.139	+0.108%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.124	−0.010%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.114	−0.086%	$645K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.122	−0.028%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.127	+0.017%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.129	+0.029%	$994K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0220%	1h	13.138	+0.097%	$363K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.101	−0.185%	$5.2M	$17.3M	75x	as long as short
Hyperliquid LINKshort	+0.0291%	1h	13.145	+0.150%	$78.0M	$24.1M	10x
Reya LINKRUSDPERP	+0.0379%	1h	13.122	−0.027%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0478%	1h	13.133	+0.063%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0484%	8h	13.143	+0.135%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0546%	1h	13.128	+0.018%	$348K	$48K	10x	as long as short