Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.004%

Price spread now: Lighter against Paradex+0.004%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex LINK-USD-PERP	12.953	0.0100	pay 0.0100% / 8h	7h 22m	$31K	$2K	20x
Short	Lighter LINK	12.953	0.0096	get 0.0012% / 1h	22m 40s	$1.9M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Paradex. 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 ParadexbpFee LighterbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$0.83
Price spread: +0.004% → 0.000%: $0.36
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.47
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 4 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Lighter live order book, 4 min ago	3.96 bp	5.1 bp −$5	12.0 bp −$120	68.9 bp −$6,886	doesn't fit

Paradex: 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
Orderly PERP_LINK_USDC	−0.0122%	8h	12.928	−0.190%	$91K	$936K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.934	−0.143%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.921	−0.241%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0002%	1h	12.931	−0.169%	$106K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.267%	$4K	$48K	12x	as long as short
Bybit LINKUSDT	+0.0040%	8h	12.948	−0.036%	$83.8M	$72.5M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.939	−0.106%	$6.4M	$8.4M	50x	as long as short
Phoenix LINK	+0.0087%	1h	12.845	−0.833%	$3K	$85K	10x	as long as short
Lighter LINKshort	+0.0096%	1h	12.953	+0.004%	$1.9M	$2.9M	10x
Paradex LINK-USD-PERPlong	+0.0100%	8h	12.953	long leg	$31K	$2K	20x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.912	−0.310%	$348K	$335K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.950	−0.020%	$80.9M	$27.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.953	+0.005%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.950	−0.021%	$275K	$178K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.952	−0.007%	$119.6M	$294.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.952	−0.005%	$27.2M	$79.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.965	+0.095%	$181K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.948	−0.036%	$134.4M	$17.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.950	−0.020%	$35.1M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.956	+0.026%	$22.9M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.950	−0.020%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.950	−0.020%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.943	−0.074%	$336K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.835	−0.908%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.860	−0.717%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.865	−0.676%	$588K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.850	−0.792%	$131K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.922	−0.237%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.822	−1.007%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.952	−0.007%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.936	−0.128%	$11K	$58K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.900	−0.406%	$630K	$698K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.949	−0.031%	$617K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.936	−0.129%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.938	−0.113%	$927K	$3.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.929	−0.183%	$5.3M	$15.9M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0268%	1h	12.944	−0.068%	$810K	$266K	50x	as long as short
Phemex LINKUSDT	+0.0325%	8h	12.945	−0.059%	$20.0M	$11.4M	50x	as long as short
Reya LINKRUSDPERP	+0.0403%	1h	12.920	−0.248%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.1255%	1h	12.953	+0.006%	$348K	$49K	10x	as long as short