LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h −0.002%

Price spread now: Derive against Lighter−0.034%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Derive

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: Derive is 0.034% cheaper against Lighter than usual: you would sell low and buy high, −$3 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	13.147	0.0096	pay 0.0012% / 1h	27m 08s	$2.0M	$2.7M	10x
Short	Derive LINK-PERP	13.143	0.0100	get 0.0013% / 1h	27m 08s	$16K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.034%Rate

Funding earned: $0.84
Price spread: −0.034% → 0.000%: −$3.38
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Derive: 3 bp × 2 orders: −$6
Net: −$8.54
Costs to cover: 0.060%
Break-even: 78.1 days

Slippage unknown: Lighter: live order book, 5 min ago; Derive: no order-book sample. 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 Lighter live order book, 5 min ago	0.95 bp	1.0 bp −$1	8.8 bp −$88	82.1 bp −$8,210	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

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 −0.0091% / S +0.0167%	1h	13.143	−0.032%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.149	+0.019%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.149	+0.015%	$726K	$133K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.143	−0.033%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.152	+0.038%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.682%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.143	−0.031%	$133K	$1.5M	20x	as long as short
Lighter LINKlong	+0.0096%	1h	13.147	long leg	$2.0M	$2.7M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.137	−0.076%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.140	−0.054%	$401K	$311K	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	13.142	−0.038%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.139	−0.058%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.147	0.000%	$122.2M	$304.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.146	−0.008%	$84.7M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.149	+0.015%	$27.7M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.154	+0.053%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.149	+0.015%	$130.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.147	0.000%	$36.7M	$57.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.148	+0.007%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.148	+0.007%	$54.7M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.149	+0.015%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.146	−0.008%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.140	−0.054%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	−0.014%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.148	+0.007%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.142	−0.038%	$81K	$69K	10x	as long as short
Derive LINK-PERPshort	+0.0100%	1h	13.143	−0.034%	$16K	$22K	10x
SunX LINK-USDT	+0.0100%	8h	13.156	+0.069%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.141	−0.046%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.127	−0.156%	$646K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.137	−0.075%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.145	−0.018%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.139	−0.061%	$994K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.146	−0.008%	$5.3M	$17.3M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0239%	1h	13.161	+0.106%	$363K	$377K	15x	as long as short
Hyperliquid LINK	+0.0284%	1h	13.166	+0.144%	$78.0M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.135	−0.090%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0477%	1h	13.151	+0.033%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0485%	8h	13.156	+0.068%	$20.4M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0682%	1h	13.142	−0.036%	$348K	$48K	10x	as long as short