Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.003%

Price spread now: BingX against Lighter−0.090%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$240.242% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

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: BingX is 0.090% cheaper against Lighter than usual: you would sell low and buy high, −$9 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	Lighter LINK	12.925	0.0096	pay 0.0012% / 1h	57m 37s	$1.9M	$2.8M	10x
Short	BingX LINK-USDC	12.913	0.0100	get 0.0100% / 8h	1h 57m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.090%Rate

Funding earned: $0.84
Price spread: −0.090% → 0.000%: −$8.98
Slippage, 4 orders: −$14.18
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$32.32
Costs to cover: 0.242%
Break-even: 276.3 days

Slippage from Lighter: live order book, 5 min ago; BingX: live order book, 9 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 Lighter live order book, 5 min ago	2.27 bp	2.8 bp −$3	9.9 bp −$99	74.7 bp −$7,471	doesn't fit
Sell BingX live order book, 9 min ago	0.77 bp	9.6 bp −$10	20.6 bp −$206	80.4 bp −$8,039	396.6 bp −$198.3K

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 −0.0089% / S +0.0166%	1h	12.939	+0.112%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.947	+0.176%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.938	+0.103%	$157K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0018%	8h	12.926	+0.011%	$94K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.059%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0052%	1h	12.939	+0.113%	$806K	$254K	50x	as long as short
Phoenix LINK	+0.0074%	1h	12.958	+0.260%	$3K	$81K	10x	as long as short
Lighter LINKlong	+0.0096%	1h	12.925	long leg	$1.9M	$2.8M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.922	−0.018%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.915	−0.078%	$349K	$344K	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	12.915	−0.072%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.927	+0.021%	$275K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.915	−0.074%	$119.1M	$301.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.913	−0.090%	$83.4M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.916	−0.067%	$27.0M	$81.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.931	+0.050%	$181K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.920	−0.036%	$124.3M	$15.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.924	−0.005%	$33.1M	$57.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.930	+0.042%	$22.8M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.913	−0.090%	$54.0M	$30.4M	75x	as long as short
BingX LINK-USDCshort	+0.0100%	8h	12.913	−0.090%	—	$6.6M	—
Variational Omni LINK	+0.0100%	8h	12.945	+0.159%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.938	+0.107%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.951	+0.200%	$579K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.954	+0.227%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.956	+0.243%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.932	+0.056%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.956	+0.244%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.933	+0.065%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.899	−0.197%	$632K	$786K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.908	−0.131%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.934	+0.076%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.945	+0.158%	$934K	$2.8M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.934	+0.072%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.944	+0.150%	$5.2M	$15.9M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0220%	1h	12.938	+0.104%	$337K	$389K	15x	as long as short
Hyperliquid LINK	+0.0291%	1h	12.943	+0.140%	$80.7M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0396%	1h	12.944	+0.153%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0574%	8h	12.951	+0.204%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.1035%	1h	12.927	+0.019%	$344K	$33K	10x	as long as short