LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0084%/8h= +9.2% APRnext payment +$0.10 per $10,000 · paid last 24h +0.038%

Price spread now: Lighter against Phoenix−0.018%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

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

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LINK	13.108	0.0012	pay 0.0002% / 1h	9m 15s	$4K	$84K	10x
Short	Lighter LINK	13.106	0.0096	get 0.0012% / 1h	9m 15s	$2.0M	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phoenix. 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 PhoenixbpFee LighterbpOrdersPrice spread, now −0.018%Rate

Funding earned: $17.62
Price spread: −0.018% → 0.000%: −$1.77
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $8.85
Costs to cover: 0.070%
Break-even: 3.5 days

Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 3 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 Phoenix no order-book sample	—	—	—	—	—
Sell Lighter live order book, 3 min ago	1.47 bp	2.5 bp −$2	8.3 bp −$83	66.0 bp −$6,596	doesn't fit

Phoenix: 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 −0.0091% / S +0.0167%	1h	13.111	+0.018%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.115	+0.049%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.113	+0.034%	$726K	$139K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.110	+0.008%	$133K	—	150x	as long as short
Phoenix LINKlong	+0.0012%	1h	13.108	long leg	$4K	$84K	10x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.405%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.109	+0.004%	$133K	$1.5M	20x	as long as short
Lighter LINKshort	+0.0096%	1h	13.106	−0.018%	$2.0M	$2.7M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.100	−0.066%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.100	−0.061%	$400K	$310K	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	13.113	+0.037%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.108	−0.003%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.106	−0.018%	$121.8M	$305.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.107	−0.011%	$84.5M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.104	−0.034%	$27.6M	$85.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.116	+0.057%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.106	−0.019%	$130.0M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.108	−0.004%	$36.1M	$58.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.110	+0.011%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.108	−0.004%	$54.6M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.110	+0.011%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.083	−0.198%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.101	−0.060%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.087	−0.165%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.106	−0.019%	$152K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.111	+0.019%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.106	−0.021%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.123	+0.113%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.106	−0.019%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.095	−0.102%	$644K	$880K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.105	−0.025%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.112	+0.029%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.111	+0.019%	$993K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0213%	1h	13.119	+0.080%	$362K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.109	+0.004%	$5.2M	$16.8M	75x	as long as short
Hyperliquid LINK	+0.0295%	1h	13.122	+0.103%	$77.8M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.105	−0.029%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.116	+0.055%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0485%	8h	13.124	+0.118%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0530%	1h	13.105	−0.028%	$347K	$48K	10x	as long as short