Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.002%

Price spread now: Lighter against MEXC−0.023%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

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

costs, in and out, $10k−$100.097% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 7 days−0.055%−$6 · spread now −0.023%, 7d avg −0.020%

Together, before fees−0.144%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LINK_USDT	12.992	0.0100	pay 0.0100% / 8h	5h 57m	$35.7M	$54.4M	300x
Short	Lighter LINK	12.989	0.0096	get 0.0012% / 1h	57m 48s	$1.9M	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$0.84
Price spread: −0.023% → −0.020%: −$0.26
Slippage, 4 orders: −$9.72
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$10.82
Costs to cover: 0.097%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Lighter: live order book, 2 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 MEXC live order book, 4 min ago	0.38 bp	0.6 bp −$1	3.7 bp −$37	24.3 bp −$2,427	44.3 bp −$22.2K
Sell Lighter live order book, 2 min ago	2.27 bp	4.8 bp −$5	16.0 bp −$160	116.0 bp −$11.6K	doesn't fit

LINK on 39 exchanges

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
Orderly PERP_LINK_USDC	−0.0189%	8h	12.985	−0.054%	$85K	$880K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.994	+0.019%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.006	+0.110%	$485K	$2.1M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.995	+0.021%	$107K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.010	+0.136%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.557%	$4K	$48K	12x	as long as short
HTX LINK-USDT	+0.0084%	8h	12.950	−0.323%	$608K	$676K	75x	as long as short
Lighter LINKshort	+0.0096%	1h	12.989	−0.023%	$1.9M	$2.3M	10x
Variational Omni LINK	+0.0097%	8h	12.977	−0.112%	$3.4M	$1.8M	—	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.993	+0.010%	$31K	$600	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.991	−0.006%	$349K	$280K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.002	+0.077%	$81.8M	$25.4M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.993	+0.010%	$1.4M	$2.5M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.003	+0.084%	$276K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.992	−0.003%	$120.5M	$269.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.987	−0.038%	$84.0M	$66.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.986	−0.046%	$27.3M	$74.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.013	+0.162%	$183K	$84K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.994	+0.015%	$134.3M	$17.1M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	12.992	long leg	$35.7M	$54.4M	300x
KuCoin LINKUSDTM	+0.0100%	8h	12.998	+0.046%	$23.0M	$11.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.987	−0.038%	$54.4M	$26.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.992	0.000%	—	$23.9M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.002	+0.077%	$336K	$352K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.982	−0.080%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.006	+0.107%	$590K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.988	−0.031%	$132K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.998	+0.046%	$83K	$64K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.010	+0.139%	$34K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.993	+0.008%	$11K	$61K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	12.985	−0.052%	$628K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.995	+0.023%	$545K	$2K	3x	as long as short
Kraken Futures PF_LINKUSD	+0.0173%	1h	12.997	+0.036%	$6.5M	$7.4M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0200%	1h	13.000	+0.062%	$950K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.996	+0.031%	$5.4M	$15.3M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0258%	1h	13.002	+0.073%	$891K	$355K	50x	as long as short
dYdX LINK-USD	+0.0354%	1h	13.009	+0.130%	$350K	$46K	10x	as long as short
Reya LINKRUSDPERP	+0.0407%	1h	12.986	−0.043%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0435%	8h	13.010	+0.139%	$20.1M	$10.5M	50x	as long as short