LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0277%/8h= +30.3% APRnext payment +$0.35 per $10,000 · paid last 24h +0.075%

Price spread now: Reya against Lighter−0.048%7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Reya is 0.048% cheaper against Lighter than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 14 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	13.135	0.0096	pay 0.0012% / 1h	31m 00s	$2.1M	$2.4M	10x
Short	Reya LINKRUSDPERP	13.129	0.0373	get 0.0047% / 1h	31m 00s	$5K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.048%Rate

Funding earned: $58.16
Price spread: −0.048% → 0.000%: −$4.81
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $47.35
Costs to cover: 0.060%
Break-even: 1.3 days

Slippage unknown: Lighter: live order book, 6 min ago; Reya: 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, 6 min ago	1.95 bp	3.6 bp −$4	12.5 bp −$125	82.3 bp −$8,230	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 −0.0090% / S +0.0165%	1h	13.130	−0.039%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.131	−0.036%	$466K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.134	−0.013%	$712K	$120K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.131	−0.033%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.118	−0.131%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0025%	1h	13.124	−0.087%	$348K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.598%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0047%	8h	13.121	−0.109%	$134K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0059%	8h	13.098	−0.284%	$3.3M	$1.5M	—	as long as short
Lighter LINKlong	+0.0096%	1h	13.135	long leg	$2.1M	$2.4M	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	13.122	−0.102%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.122	−0.102%	$398K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.145	+0.073%	$77.7M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.132	−0.027%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.126	−0.068%	$275K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.133	−0.018%	$121.4M	$300.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.132	−0.026%	$84.6M	$69.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.138	+0.020%	$27.7M	$84.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.140	+0.035%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.132	−0.026%	$130.6M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.137	+0.012%	$36.4M	$56.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.133	−0.018%	$21.9M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.138	+0.020%	$54.4M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.130	−0.041%	—	$21.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.141	+0.043%	$364K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.116	−0.145%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.106	−0.225%	$592K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.121	−0.109%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.133	−0.018%	$80K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.127	−0.066%	$16K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.137	+0.014%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.130	−0.041%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.103	−0.250%	$644K	$911K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.135	−0.003%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.132	−0.026%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.122	−0.102%	$988K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.125	−0.079%	$5.2M	$16.8M	75x	as long as short
Reya LINKRUSDPERPshort	+0.0373%	1h	13.129	−0.048%	$5K	—	20x
Phemex LINKUSDT	+0.0480%	8h	13.143	+0.058%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	13.140	+0.034%	$6.9M	$7.8M	50x	as long as short