Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.006%

Price spread now: Lighter against Gate−0.001%7-day average −0.014% · 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−$31as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 7 days−0.024%−$2 · spread now −0.001%, 7d avg −0.014%

Together, before fees−0.079%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	12.868	0.0100	pay 0.0100% / 8h	1h 31m	$123.8M	$15.3M	75x
Short	Lighter LINK	12.868	0.0096	get 0.0012% / 1h	31m 27s	$1.9M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$0.84
Price spread: −0.001% → −0.014%: $1.27
Slippage, 4 orders: −$17.72
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$32.29
Costs to cover: 0.327%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Lighter: live order book, 6 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 Gate live order book, 3 min ago	1.17 bp	10.0 bp −$10	13.5 bp −$135	29.1 bp −$2,908	75.3 bp −$37.6K
Sell Lighter live order book, 6 min ago	2.23 bp	5.2 bp −$5	11.5 bp −$115	68.0 bp −$6,795	doesn't fit

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 −0.0088% / S +0.0166%	1h	12.861	−0.054%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0006%	8h	12.857	−0.085%	$93K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.868	+0.003%	$510K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.862	−0.047%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.637%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.855	−0.104%	$3K	$85K	10x	as long as short
Lighter LINKshort	+0.0096%	1h	12.868	−0.001%	$1.9M	$2.8M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.869	+0.012%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.870	+0.019%	$350K	$341K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.875	+0.057%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.870	+0.012%	$274K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.875	+0.056%	$118.8M	$301.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.870	+0.016%	$83.2M	$73.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.872	+0.031%	$26.9M	$80.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.888	+0.155%	$180K	$94K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	12.868	long leg	$123.8M	$15.3M	75x
MEXC LINK_USDT	+0.0100%	8h	12.875	+0.054%	$34.3M	$58.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.876	+0.062%	$22.7M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.870	+0.016%	$53.9M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.872	+0.031%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.849	−0.146%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.858	−0.078%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.869	+0.007%	$580K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.863	−0.039%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.878	+0.078%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.852	−0.125%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.874	+0.044%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.863	−0.039%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.848	−0.156%	$631K	$787K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.868	+0.003%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.866	−0.019%	$540K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0117%	1h	12.871	+0.023%	$335K	$388K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.863	−0.039%	$932K	$2.8M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0194%	1h	12.865	−0.022%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.871	+0.023%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0335%	1h	12.887	+0.148%	$80.4M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0398%	1h	12.869	+0.008%	$4K	—	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0442%	1h	12.870	+0.015%	$805K	$266K	50x	as long as short
Phemex LINKUSDT	+0.0584%	8h	12.878	+0.078%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0932%	1h	12.865	−0.021%	$343K	$33K	10x	as long as short