LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.003%

Price spread now: Pacifica against Lighter+0.002%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on Lighter Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)+0.045%+$4 · spread now +0.002%, 7d avg +0.023%

Together, before fees+0.102%+ Points / potential airdropLighter: Season 3 · Pacifica: Active · farm board+$10 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: Pacifica is 0.020% cheaper against Lighter than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	13.004	0.0096	pay 0.0012% / 1h	44m 32s	$1.9M	$2.8M	10x
Short	Pacifica LINK	13.005	0.0100	get 0.0013% / 1h	44m 32s	$274K	$168K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.002%Rate

Funding earned: $0.84
Price spread: +0.002% → +0.023%: −$2.05
Slippage, 4 orders: −$20.83
Fee Lighter: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$30.04
Costs to cover: 0.288%
Break-even: 257.3 days

Slippage from Lighter: live order book, 13 min ago; Pacifica: live order book, 19 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, 13 min ago	2.35 bp	2.9 bp −$3	8.8 bp −$88	70.6 bp −$7,056	doesn't fit
Sell Pacifica live order book, 19 min ago	5.38 bp	11.7 bp −$12	doesn't fit	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 −0.0090% / S +0.0167%	1h	13.001	−0.027%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.002	−0.015%	$479K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.000	−0.036%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.647%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.973	−0.241%	$936K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	13.005	+0.005%	$117K	$1.5M	20x	as long as short
Lighter LINKlong	+0.0096%	1h	13.004	long leg	$1.9M	$2.8M	10x
Phoenix LINK	+0.0098%	1h	13.000	−0.034%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.005	+0.003%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.008	+0.032%	$395K	$316K	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	13.007	+0.017%	$1.3M	$2.3M	50x	as long as short
Pacifica LINKshort	+0.0100%	1h	13.005	+0.002%	$274K	$168K	10x
Binance LINKUSDT	+0.0100%	8h	12.998	−0.049%	$119.8M	$296.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.993	−0.087%	$84.1M	$71.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.995	−0.072%	$27.4M	$82.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.014	+0.074%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.999	−0.041%	$128.3M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.996	−0.064%	$32.0M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.005	+0.005%	$23.0M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.991	−0.103%	$54.1M	$30.0M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.993	−0.087%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.255%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.974	−0.230%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.965	−0.305%	$581K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.990	−0.110%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.016	+0.090%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.009	+0.032%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.011	+0.050%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.012	+0.059%	$5K	$45K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.972	−0.250%	$640K	$685K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.991	−0.106%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.011	+0.055%	$546K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0106%	1h	13.024	+0.151%	$340K	$378K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.005	+0.005%	—	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0296%	1h	13.014	+0.071%	$773K	$193K	50x	as long as short
dYdX LINK-USD	+0.0351%	1h	13.001	−0.026%	$344K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.006	+0.010%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.013	+0.069%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDT	+0.0601%	8h	13.025	+0.159%	$20.1M	$11.6M	50x	as long as short
Hyperliquid LINK	+0.0741%	1h	13.021	+0.128%	$81.8M	$26.7M	10x	as long as short