LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Lighter against Nado+0.003%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Nado Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.051%−$5 on $10k

Price spread, last 4 days (all we have)−0.485%−$48 · spread now +0.003%, 7d avg −0.007%

Together, before fees−0.536%+ Points / potential airdropNado: Active · Lighter: Season 3 · farm board−$54 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado LINK-PERP	12.918	0.0100	pay 0.0012% / 1h	51m 49s	$391K	$310K	10x
Short	Lighter LINK	12.918	0.0096	get 0.0012% / 1h	51m 49s	$1.9M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Nado. 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 NadobpFee LighterbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$0.84
Price spread: +0.003% → −0.007%: $1
Slippage, 4 orders: −$17.11
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$23.95
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Nado: live order book, 6 min ago; Lighter: 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 Nado live order book, 6 min ago	1.16 bp	8.5 bp −$8	19.9 bp −$199	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	2.22 bp	4.7 bp −$5	12.8 bp −$128	77.7 bp −$7,769	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	12.917	−0.004%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.933	+0.117%	$489K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.919	+0.009%	$158K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.006%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0061%	8h	12.915	−0.019%	$116K	$1.4M	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0067%	1h	12.923	+0.039%	$771K	$189K	50x	as long as short
Lighter LINKshort	+0.0096%	1h	12.918	+0.003%	$1.9M	$2.8M	10x
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.954	+0.283%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.920	+0.018%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.921	+0.031%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERPlong	+0.0100%	1h	12.918	long leg	$391K	$310K	10x
Aster LINKUSDT	+0.0100%	8h	12.923	+0.044%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.926	+0.067%	$273K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.906	−0.086%	$119.4M	$297.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.903	−0.112%	$83.3M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.905	−0.097%	$27.2M	$81.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.936	+0.143%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.918	+0.004%	$127.6M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.915	−0.019%	$32.2M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.921	+0.027%	$22.7M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.905	−0.097%	$53.6M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.911	−0.050%	—	$22.4M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.956	+0.301%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.951	+0.259%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.944	+0.206%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.911	−0.050%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.932	+0.112%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.917	−0.006%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.934	+0.129%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.916	−0.012%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.913	−0.033%	$632K	$703K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.913	−0.039%	$637K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.919	+0.011%	$542K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	12.923	+0.043%	$339K	$388K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.937	+0.151%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.925	+0.058%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0395%	1h	12.920	+0.023%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0408%	1h	12.921	+0.027%	$81.0M	$27.4M	10x	as long as short
dYdX LINK-USD	+0.0597%	1h	12.926	+0.068%	$342K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0615%	8h	12.933	+0.120%	$19.9M	$11.4M	50x	as long as short