LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0312%/8h= +34.1% APRnext payment +$0.39 per $10,000 · paid last 24h +0.033%

Price spread now: dYdX against Lighter−0.002%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$1101.103% of the position

Long on Lighter Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.406%+$41 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.002%, 7d avg +0.020%

Together, before fees+0.430%+ Points / potential airdropLighter: Season 3 · farm board+$43 on $10k · with fees, hour by hour

Funding pays, the price is against you. dYdX is 0.022% cheaper against Lighter than usual: you would sell low and buy high (spread −0.002% now, against its 7-day average of +0.020%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	12.959	0.0096	pay 0.0012% / 1h	15m 19s	$1.9M	$2.8M	10x
Short	dYdX LINK-USD	12.959	0.0408	get 0.0051% / 1h	15m 19s	$343K	$30K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.002%Rate

Funding earned: $65.47
Price spread: −0.002% → +0.020%: −$2.23
Slippage, 4 orders: −$100.27
Fee Lighter: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$47.03
Costs to cover: 1.103%
Break-even: 12.0 days

Slippage from Lighter: live order book, 2 min ago; dYdX: live order book, 44 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, 2 min ago	2.18 bp	4.3 bp −$4	13.2 bp −$132	74.5 bp −$7,446	doesn't fit
Sell dYdX live order book, 44 min ago	46.47 bp	51.5 bp −$51	134.3 bp −$1,343	254.7 bp −$25.5K	714.7 bp −$357.4K

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	12.958	−0.009%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.964	+0.035%	$520K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.959	−0.003%	$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	+0.0055%	8h	12.956	−0.023%	$117K	$1.2M	20x	as long as short
Lighter LINKlong	+0.0096%	1h	12.959	long leg	$1.9M	$2.8M	10x
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.970	+0.085%	$943K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.944	−0.120%	$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	12.958	−0.008%	$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	12.960	+0.009%	$275K	$177K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.960	+0.008%	$120.0M	$297.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.954	−0.039%	$83.6M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.958	−0.008%	$27.4M	$81.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.978	+0.147%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.962	+0.023%	$128.2M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.959	0.000%	$32.8M	$56.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.963	+0.031%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.962	+0.023%	$53.9M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.957	−0.016%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.960	+0.008%	$339K	$387K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.949	−0.075%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.954	−0.041%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.962	+0.020%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.965	+0.046%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.970	+0.085%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.955	−0.033%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.971	+0.089%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.958	−0.008%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.954	−0.040%	$636K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.955	−0.035%	$632K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.962	+0.024%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0167%	1h	12.963	+0.030%	$779K	$202K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.960	+0.008%	$4.6M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0375%	1h	12.981	+0.170%	$81.3M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.953	−0.043%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0394%	1h	12.959	+0.002%	$6.7M	$8.1M	50x	as long as short
dYdX LINK-USDshort	+0.0408%	1h	12.959	−0.002%	$343K	$30K	10x
Phemex LINKUSDT	+0.0533%	8h	12.971	+0.093%	$20.0M	$11.4M	50x	as long as short