LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0063%/8h= −6.9% APRnext payment −$0.08 per $10,000 · paid last 24h −0.017%

Price spread now: Injective against Lighter−5.251%96s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+1.104%+$110 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 5.251% cheaper against Lighter than usual: you would sell low and buy high (−$525 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.104%, so the current rate has only just turned against you. The two prices were read 96 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	13.087	0.0096	pay 0.0012% / 1h	53m 42s	$2.1M	$2.3M	10x
Short	Injective LINK/USDC PERP	12.400	0.0033	get 0.0004% / 1h	53m 42s	$4K	$48K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −5.251%Rate

Funding earned: −$13.16
Price spread: −5.251% → 0.000%: −$525.11
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$538.29
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 3 min ago; Injective: no order-book sample. Net counts fees only.

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, 3 min ago	1.64 bp	4.8 bp −$5	13.8 bp −$138	90.1 bp −$9,011	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	13.077	−0.075%	$1.7M	—	200x	as long as short
Phoenix LINK	−0.0012%	1h	13.127	+0.308%	$3K	$84K	10x	as long as short
dYdX LINK-USD	0.0000%	1h	13.085	−0.018%	$347K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.097	+0.074%	$457K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.078	−0.074%	$696K	$106K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.078	−0.072%	$83K	—	150x	as long as short
Variational Omni LINK	+0.0031%	8h	13.109	+0.170%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERPshort	+0.0033%	1h	12.400	−5.251%	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0057%	8h	13.069	−0.139%	$134K	$1.6M	20x	as long as short
Lighter LINKlong	+0.0096%	1h	13.087	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	13.076	−0.084%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.069	−0.143%	$396K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.099	+0.090%	$78.0M	$23.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.092	+0.038%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.096	+0.069%	$274K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.083	−0.032%	$121.0M	$300.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.085	−0.017%	$84.3M	$69.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.088	+0.006%	$27.6M	$84.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.100	+0.098%	$184K	$170K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.093	+0.044%	$130.6M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.089	+0.014%	$35.7M	$55.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.094	+0.052%	$21.8M	$15.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.085	−0.017%	$54.1M	$30.1M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.086	−0.009%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.086	−0.009%	$362K	$370K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.105	+0.139%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.113	+0.198%	$590K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.109	+0.166%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.069	−0.139%	$79K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.072	−0.116%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.090	+0.023%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.075	−0.093%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.060	−0.208%	$639K	$905K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.085	−0.016%	$665K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.079	−0.060%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.074	−0.101%	$989K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.132	+0.342%	$5.3M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.067	−0.156%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0507%	1h	13.085	−0.020%	$6.9M	$7.7M	50x	as long as short
Phemex LINKUSDT	+0.0515%	8h	13.092	+0.037%	$20.2M	$11.5M	50x	as long as short