LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.030%

Price spread now: Kraken Futures against Lighter+0.034%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now +0.034%, 7d avg +0.028%

Together, before fees+0.231%+ Points / potential airdropLighter: Season 3 · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	12.952	0.0096	pay 0.0012% / 1h	1m 04s	$1.9M	$2.8M	10x
Short	Kraken Futures PF_LINKUSD	12.956	0.0276	get 0.0035% / 1h	1m 04s	$6.7M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.034%Rate

Funding earned: $37.87
Price spread: +0.034% → +0.028%: $0.68
Slippage, 4 orders: −$18.37
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $10.18
Costs to cover: 0.284%
Break-even: 5.1 days

Slippage from Lighter: live order book, 6 min ago; Kraken Futures: live order book, 3 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, 6 min ago	3.40 bp	3.4 bp −$3	8.9 bp −$89	76.8 bp −$7,679	doesn't fit
Sell Kraken Futures live order book, 3 min ago	2.70 bp	8.9 bp −$9	14.7 bp −$147	40.3 bp −$4,033	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 −0.0089% / S +0.0166%	1h	12.949	−0.021%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.958	+0.043%	$526K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.950	−0.016%	$157K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0022%	8h	12.944	−0.062%	$95K	$1.2M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.262%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.958	+0.048%	$3K	$82K	10x	as long as short
Lighter LINKlong	+0.0096%	1h	12.952	long leg	$1.9M	$2.8M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.950	−0.015%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.950	−0.012%	$347K	$343K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.952	−0.003%	$1.2M	$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	12.955	+0.027%	$276K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.949	−0.026%	$119.4M	$302.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.944	−0.062%	$83.5M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.946	−0.046%	$27.0M	$81.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.969	+0.131%	$181K	$95K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.946	−0.046%	$124.6M	$15.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.952	0.000%	$32.9M	$58.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.954	+0.015%	$22.8M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.951	−0.008%	$54.1M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.950	−0.015%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	+0.148%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.953	+0.011%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.958	+0.049%	$590K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.970	+0.139%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.955	+0.023%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.951	−0.011%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.965	+0.103%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.953	+0.008%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.939	−0.100%	$634K	$786K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.942	−0.081%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.954	+0.015%	$543K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0128%	1h	12.961	+0.069%	$936K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0135%	1h	12.958	+0.046%	$338K	$390K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.952	0.000%	$5.2M	$15.9M	75x	as long as short
Hyperliquid LINK	+0.0248%	1h	12.965	+0.100%	$80.8M	$27.7M	10x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0276%	1h	12.956	+0.034%	$6.7M	$8.3M	50x
Deribit LINK_USDC-PERPETUAL	+0.0283%	1h	12.958	+0.049%	$808K	$254K	50x	as long as short
Reya LINKRUSDPERP	+0.0396%	1h	12.949	−0.024%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0576%	8h	12.969	+0.131%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0598%	1h	12.957	+0.041%	$345K	$33K	10x	as long as short