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: Lighter against Reya+0.117%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Lighter

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 airdropReya: Active · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.117% dearer against Reya than usual: you sell high and buy low (spread +0.117% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya LINKRUSDPERP	13.129	0.0373	pay 0.0047% / 1h	30m 36s	$5K	—	20x
Short	Lighter LINK	13.144	0.0096	get 0.0012% / 1h	30m 36s	$2.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Reya. 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 ReyabpFee LighterbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$58.16
Price spread: +0.117% → 0.000%: $11.69
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$52.46
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Lighter: live order book, 6 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 Reya no order-book sample	—	—	—	—	—
Sell Lighter live order book, 6 min ago	1.95 bp	2.2 bp −$2	10.7 bp −$107	70.6 bp −$7,058	doesn't fit

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	+0.009%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.131	+0.012%	$466K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.134	+0.035%	$712K	$120K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.131	+0.015%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.118	−0.083%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0024%	1h	13.138	+0.070%	$348K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.553%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0047%	8h	13.121	−0.061%	$134K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0059%	8h	13.098	−0.236%	$3.3M	$1.5M	—	as long as short
Lighter LINKshort	+0.0096%	1h	13.144	+0.117%	$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	13.137	+0.063%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.122	−0.054%	$398K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.152	+0.175%	$77.7M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.140	+0.087%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.141	+0.091%	$275K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.139	+0.073%	$121.4M	$300.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.136	+0.053%	$84.6M	$69.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.138	+0.068%	$27.7M	$84.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.149	+0.152%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.140	+0.083%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.138	+0.068%	$36.3M	$56.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.143	+0.106%	$22.0M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.137	+0.060%	$54.3M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.139	+0.076%	—	$21.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.141	+0.091%	$364K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.116	−0.097%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.106	−0.177%	$592K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.121	−0.061%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.133	+0.030%	$80K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.127	−0.018%	$16K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.137	+0.062%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.130	+0.007%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.103	−0.202%	$644K	$911K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.135	+0.045%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.132	+0.022%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.122	−0.054%	$988K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.125	−0.031%	$5.2M	$16.8M	75x	as long as short
Reya LINKRUSDPERPlong	+0.0373%	1h	13.129	long leg	$5K	—	20x
Phemex LINKUSDT	+0.0480%	8h	13.143	+0.106%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	13.140	+0.082%	$6.9M	$7.8M	50x	as long as short