LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0008%/8h= +0.9% APRnext payment +$0.01 per $10,000 · paid last 24h −0.007%

Price spread now: Extended against Lighter−0.053%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$160.162% of the position

Long on Lighter Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 7 days+0.007%+$1 · spread now −0.053%, 7d avg −0.038%

Together, before fees+0.117%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board+$12 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	12.983	0.0096	pay 0.0012% / 1h	9m 27s	$1.9M	$2.8M	10x
Short	Extended LINK-USD	12.976	0.0104	get 0.0013% / 1h	9m 27s	$647K	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.053%Rate

Funding earned: $1.68
Price spread: −0.053% → −0.038%: −$1.51
Slippage, 4 orders: −$11.17
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$16
Costs to cover: 0.162%
Break-even: 73.7 days

Slippage from Lighter: live order book, 3 min ago; Extended: live order book, 4 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, 3 min ago	2.51 bp	3.0 bp −$3	10.5 bp −$105	79.1 bp −$7,908	doesn't fit
Sell Extended live order book, 4 min ago	1.54 bp	4.8 bp −$5	6.3 bp −$63	doesn't fit	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 −0.0090% / S +0.0167%	1h	13.006	+0.172%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.018	+0.264%	$482K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.983	−0.002%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.492%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	13.004	+0.160%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.024	+0.314%	$964K	$2.7M	50x	as long as short
Lighter LINKlong	+0.0096%	1h	12.983	long leg	$1.9M	$2.8M	10x
Deribit LINK_USDC-PERPETUAL	+0.0096%	1h	13.008	+0.192%	$773K	$175K	50x	as long as short
Phoenix LINK	+0.0098%	1h	12.989	+0.048%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.984	+0.005%	$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	12.979	−0.034%	$393K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.993	+0.078%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.985	+0.010%	$274K	$174K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.984	+0.006%	$120.0M	$296.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.981	−0.017%	$83.8M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.980	−0.025%	$27.3M	$82.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.002	+0.145%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.979	−0.033%	$128.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.984	+0.006%	$32.5M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.992	+0.068%	$22.9M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.981	−0.017%	$54.0M	$29.8M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.980	−0.025%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.006	+0.175%	$344K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	+0.044%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.993	+0.076%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.011	+0.211%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.017	+0.260%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.988	+0.037%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.004	+0.157%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.028	+0.346%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.005	+0.168%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.996	+0.101%	$641K	$690K	75x	as long as short
Extended LINK-USDshort	+0.0104%	1h	12.976	−0.053%	$647K	$2.0M	25x
Aevo LINK-PERP	+0.0104%	1h	13.005	+0.164%	$545K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.010	+0.206%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.978	−0.040%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.008	+0.193%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0590%	8h	13.019	+0.276%	$20.1M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0592%	1h	12.987	+0.028%	$344K	$30K	10x	as long as short
Hyperliquid LINK	+0.0646%	1h	13.001	+0.137%	$81.8M	$27.3M	10x	as long as short