Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.002%

Price spread now: MEXC against Lighter−0.028%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$50.045% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

Price spread, last 7 days−0.001%$0 · spread now −0.028%, 7d avg +0.018%

Together, before fees+0.092%+ Points / potential airdropLighter: Season 3 · farm board+$9 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: MEXC is 0.046% cheaper against Lighter than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	13.197	0.0096	pay 0.0012% / 1h	13m 40s	$2.0M	$2.8M	10x
Short	MEXC LINK_USDT	13.193	0.0100	get 0.0100% / 8h	7h 13m	$37.0M	$59.1M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0.84
Price spread: −0.028% → +0.018%: −$4.59
Slippage, 4 orders: −$4.55
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$8.29
Costs to cover: 0.045%
Break-even: 76.1 days

Slippage from Lighter: live order book, 3 min ago; MEXC: 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, 3 min ago	1.49 bp	1.8 bp −$2	8.2 bp −$82	67.8 bp −$6,782	doesn't fit
Sell MEXC live order book, 5 min ago	0.38 bp	0.4 bp $0	4.5 bp −$45	23.8 bp −$2,382	39.4 bp −$19.7K

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	13.206	+0.067%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.199	+0.019%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.204	+0.056%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.037%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.142	−0.418%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.204	+0.056%	$134K	$1.5M	20x	as long as short
Lighter LINKlong	+0.0096%	1h	13.197	long leg	$2.0M	$2.8M	10x
Paradex LINK-USD-PERP	+0.0099%	8h	13.226	+0.220%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.186	−0.081%	$404K	$307K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.197	+0.005%	$1.4M	$3.0M	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	13.195	−0.010%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.194	−0.018%	$122.5M	$299.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.187	−0.073%	$85.0M	$70.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.186	−0.081%	$27.6M	$84.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.206	+0.071%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.198	+0.010%	$130.7M	$12.5M	75x	as long as short
MEXC LINK_USDTshort	+0.0100%	8h	13.193	−0.028%	$37.0M	$59.1M	300x
KuCoin LINKUSDTM	+0.0100%	8h	13.196	−0.005%	$23.1M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.188	−0.066%	$54.7M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.189	−0.058%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.154	−0.320%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.139	−0.433%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.140	−0.427%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.150	−0.353%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.201	+0.033%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.202	+0.038%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.208	+0.084%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.207	+0.078%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.190	−0.047%	$650K	$867K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.184	−0.099%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.206	+0.070%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.210	+0.101%	$1.0M	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0136%	1h	13.211	+0.109%	$785K	$212K	50x	as long as short
Backpack LINK_USDC_PERP	+0.0181%	1h	13.221	+0.185%	$366K	$363K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.184	−0.096%	$5.2M	$15.4M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0363%	1h	13.216	+0.146%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.196	−0.004%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0437%	1h	13.193	−0.025%	$349K	$48K	10x	as long as short
Hyperliquid LINK	+0.0562%	1h	13.213	+0.124%	$81.6M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0577%	8h	13.216	+0.147%	$20.4M	$11.5M	50x	as long as short