LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0183%/8h= +20.1% APRnext payment +$0.23 per $10,000 · paid last 24h +0.049%

Price spread now: Lighter against GMX+0.001%7-day average −0.033% · you sell dearer than you buy

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

Long on GMX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.144%+$14 on $10k

Price spread, last 4 days (all we have)−0.100%−$10 · spread now +0.001%, 7d avg −0.033%

Together, before fees+0.044%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.034% dearer against GMX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	12.867	L −0.0087% / S +0.0165%	get 0.0011% / 1h	25m 09s	$1.7M	—	200x
Short	Lighter LINK	12.868	0.0096	get 0.0012% / 1h	25m 09s	$1.9M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GMX. 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 GMXbpFee LighterbpOrdersPrice spread, now +0.001%Rate

Funding earned: $38.52
Price spread: +0.001% → −0.033%: $3.4
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $29.92
Costs to cover: 0.120%
Break-even: 1.6 days

Slippage unknown: GMX: no order-book sample; Lighter: live order book, 7 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 GMX no order-book sample	—	—	—	—	—
Sell Lighter live order book, 7 min ago	2.11 bp	2.8 bp −$3	10.5 bp −$105	66.9 bp −$6,693	doesn't fit

GMX: 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
Orderly PERP_LINK_USDC	−0.0120%	8h	12.861	−0.050%	$90K	$932K	20x	as long as short
GMX LINK/USD [LINK-USDC]long	L −0.0087% / S +0.0165%	1h	12.867	long leg	$1.7M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.864	−0.027%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0002%	1h	12.867	+0.001%	$106K	—	150x	as long as short
Bybit LINKUSDT	+0.0015%	8h	12.862	−0.042%	$83.2M	$72.4M	75x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.633%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.868	+0.008%	$6.4M	$8.4M	50x	as long as short
Phoenix LINK	+0.0087%	1h	12.845	−0.177%	$3K	$85K	10x	as long as short
Lighter LINKshort	+0.0096%	1h	12.868	+0.001%	$1.9M	$2.9M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.862	−0.042%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.867	−0.003%	$347K	$335K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.873	+0.043%	$80.4M	$28.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.869	+0.016%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.867	−0.003%	$274K	$178K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.867	0.000%	$118.8M	$295.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.867	−0.003%	$27.0M	$79.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.879	+0.090%	$180K	$100K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.868	+0.005%	$133.6M	$17.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.867	−0.003%	$35.4M	$59.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.872	+0.036%	$22.8M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.864	−0.027%	$53.7M	$29.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.866	−0.011%	—	$23.2M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.874	+0.051%	$334K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.835	−0.252%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.843	−0.193%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.845	−0.177%	$587K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.850	−0.135%	$131K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.875	+0.059%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.822	−0.351%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.881	+0.105%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.866	−0.011%	$10K	$58K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.863	−0.031%	$628K	$698K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.861	−0.048%	$614K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.868	+0.008%	$540K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0131%	1h	12.874	+0.050%	$805K	$268K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.870	+0.020%	$925K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.870	+0.020%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0403%	1h	12.862	−0.039%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0413%	8h	12.884	+0.129%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.1366%	1h	12.868	+0.003%	$346K	$49K	10x	as long as short