LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.003%

Price spread now: Lighter against Coinbase International−0.137%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 3 days (all we have)+0.067%+$7 · spread now −0.137%, 7d avg −0.033%

Together, before fees−0.009%+ Points / potential airdropLighter: Season 3 · farm board−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.104% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.137% now, against its 7-day average of −0.033%). If the spread goes back, that is −$10 on $10k: about 11 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.076%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International LINK-PERP-INTX	13.018	0.0064	pay 0.0008% / 1h	58m 09s	$953K	$2.6M	50x
Short	Lighter LINK	13.000	0.0096	get 0.0012% / 1h	58m 09s	$1.9M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now −0.137%Rate

Funding earned: $6.72
Price spread: −0.137% → −0.033%: −$10.38
Slippage, 4 orders: −$20.62
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$34.28
Costs to cover: 0.306%
Break-even: 42.7 days

Slippage from Coinbase International: live order book, 1 min ago; Lighter: live order book, 4 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 Coinbase International live order book, 1 min ago	3.84 bp	12.1 bp −$12	15.1 bp −$151	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	1.46 bp	2.6 bp −$3	11.9 bp −$119	75.3 bp −$7,527	doesn't fit

LINK on 39 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	13.000	−0.138%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.023	+0.037%	$345K	$30K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.014	−0.029%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.002	−0.123%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.747%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.030	+0.094%	$3K	$83K	10x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0064%	1h	13.018	long leg	$953K	$2.6M	50x
Orderly PERP_LINK_USDC	+0.0068%	8h	12.997	−0.161%	$117K	$1.5M	20x	as long as short
Lighter LINKshort	+0.0096%	1h	13.000	−0.137%	$1.9M	$2.8M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.020	+0.014%	$31K	$2K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.012	−0.042%	$396K	$317K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.003	−0.116%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.021	+0.023%	$275K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.978	−0.307%	$119.4M	$297.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.973	−0.346%	$84.0M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.971	−0.361%	$27.4M	$82.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.035	+0.131%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.985	−0.253%	$128.1M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.987	−0.238%	$32.2M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.000	−0.138%	$23.0M	$13.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.987	−0.238%	$54.0M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.984	−0.261%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.994	−0.184%	$339K	$378K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.019	+0.009%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.027	+0.066%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.036	+0.136%	$589K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.028	+0.077%	$134K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.023	+0.038%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.000	−0.142%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.031	+0.099%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.999	−0.146%	$5K	$46K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.010	−0.063%	$642K	$687K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.969	−0.373%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.000	−0.142%	$545K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0242%	1h	13.005	−0.098%	$772K	$212K	50x	as long as short
Reya LINKRUSDPERP	+0.0385%	1h	13.001	−0.134%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0533%	1h	13.001	−0.131%	$81.2M	$26.5M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.000	−0.141%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0595%	8h	13.007	−0.084%	$20.1M	$11.6M	50x	as long as short