LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.003%

Price spread now: Lighter against Derive−0.022%7-day average — · you buy dearer than you sell

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

Long on Derive 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 airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.022% cheaper against Derive than usual: you would sell low and buy high, −$2 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive LINK-PERP	12.959	0.0100	pay 0.0013% / 1h	22m 35s	$16K	$22K	10x
Short	Lighter LINK	12.956	0.0096	get 0.0012% / 1h	22m 35s	$1.9M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Derive. 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 DerivebpFee LighterbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$0.84
Price spread: −0.022% → 0.000%: −$2.23
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$9.07
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Lighter: live order book, 5 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 Derive no order-book sample	—	—	—	—	—
Sell Lighter live order book, 5 min ago	2.27 bp	4.7 bp −$5	12.1 bp −$121	75.7 bp −$7,566	doesn't fit

Derive: 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 +0.0167%	1h	12.957	−0.014%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.968	+0.066%	$519K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.960	+0.004%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.314%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	12.957	−0.016%	$117K	$1.3M	20x	as long as short
Lighter LINKshort	+0.0096%	1h	12.956	−0.022%	$1.9M	$2.8M	10x
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.965	+0.046%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.970	+0.088%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.960	+0.005%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.961	+0.015%	$392K	$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	12.961	+0.015%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.959	−0.001%	$274K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.965	+0.045%	$120.0M	$297.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.954	−0.039%	$83.5M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.957	−0.016%	$27.4M	$81.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.980	+0.162%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.956	−0.023%	$128.1M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.958	−0.008%	$33.0M	$56.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.960	+0.007%	$22.7M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.960	+0.007%	$53.9M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.960	+0.007%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.966	+0.054%	$339K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.954	−0.038%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.967	+0.064%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.967	+0.062%	$581K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.975	+0.123%	$133K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.966	+0.054%	$81K	$70K	10x	as long as short
Derive LINK-PERPlong	+0.0100%	1h	12.959	long leg	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	12.977	+0.136%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.962	+0.023%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.909	−0.382%	$633K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.959	−0.003%	$632K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.962	+0.023%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0167%	1h	12.966	+0.054%	$779K	$202K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.966	+0.054%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0366%	1h	12.972	+0.100%	$81.2M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.957	−0.017%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.964	+0.041%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0414%	1h	12.958	−0.012%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0531%	8h	12.975	+0.123%	$20.0M	$11.4M	50x	as long as short