Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.006%

Price spread now: Gate against Lighter−0.029%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 7 days+0.043%+$4 · spread now −0.029%, 7d avg +0.015%

Together, before fees+0.101%+ Points / potential airdropLighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.044% cheaper against Lighter than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	13.007	0.0096	pay 0.0012% / 1h	50m 01s	$1.9M	$2.8M	10x
Short	Gate LINK_USDT	13.003	0.0100	get 0.0100% / 8h	3h 50m	$128.7M	$12.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.029%Rate

Funding earned: $0.84
Price spread: −0.029% → +0.015%: −$4.45
Slippage, 4 orders: −$28.17
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$46.77
Costs to cover: 0.432%
Break-even: 396.8 days

Slippage from Lighter: live order book, 7 min ago; Gate: 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, 7 min ago	1.96 bp	5.2 bp −$5	11.6 bp −$116	72.8 bp −$7,282	doesn't fit
Sell Gate live order book, 4 min ago	1.92 bp	17.0 bp −$17	23.8 bp −$238	38.4 bp −$3,837	80.7 bp −$40.3K

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	12.998	−0.066%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.002	−0.033%	$499K	$2.4M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.998	−0.065%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.665%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	12.996	−0.083%	$117K	$1.2M	20x	as long as short
Phoenix LINK	+0.0074%	1h	13.045	+0.296%	$3K	$82K	10x	as long as short
Lighter LINKlong	+0.0096%	1h	13.007	long leg	$1.9M	$2.8M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.001	−0.042%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.007	−0.002%	$393K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.002	−0.037%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	13.005	−0.011%	$275K	$179K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.002	−0.036%	$121.0M	$299.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.997	−0.075%	$84.0M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.001	−0.045%	$27.5M	$81.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.018	+0.086%	$182K	$166K	10x	as long as short
Gate LINK_USDTshort	+0.0100%	8h	13.003	−0.029%	$128.7M	$12.8M	75x
MEXC LINK_USDT	+0.0100%	8h	13.000	−0.052%	$32.9M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.005	−0.014%	$22.8M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.999	−0.060%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.005	−0.014%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.016	+0.072%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.026	+0.147%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.045	+0.294%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.034	+0.209%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.004	−0.022%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.997	−0.076%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.012	+0.041%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.000	−0.052%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.986	−0.159%	$637K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.995	−0.088%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.999	−0.056%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.014	+0.055%	$948K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0135%	1h	13.004	−0.025%	$782K	$202K	50x	as long as short
dYdX LINK-USD	+0.0171%	1h	13.001	−0.042%	$344K	$30K	10x	as long as short
Backpack LINK_USDC_PERP	+0.0180%	1h	13.011	+0.032%	$343K	$390K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.011	+0.032%	$5.2M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0243%	1h	13.006	−0.003%	$6.7M	$8.1M	50x	as long as short
Reya LINKRUSDPERP	+0.0391%	1h	12.998	−0.071%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0394%	1h	13.021	+0.109%	$81.5M	$27.4M	10x	as long as short
Phemex LINKUSDT	+0.0534%	8h	13.016	+0.071%	$20.1M	$11.3M	50x	as long as short