Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.002%

Price spread now: Lighter against MEXC+0.034%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$90.093% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 7 days−0.068%−$7 · spread now +0.034%, 7d avg −0.020%

Together, before fees−0.149%+ Points / potential airdropLighter: Season 3 · farm board−$15 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: Lighter is 0.053% dearer against MEXC than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LINK_USDT	12.887	0.0100	pay 0.0100% / 8h	1h 44m	$34.2M	$58.0M	300x
Short	Lighter LINK	12.891	0.0096	get 0.0012% / 1h	44m 59s	$1.9M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$0.84
Price spread: +0.034% → −0.020%: $5.35
Slippage, 4 orders: −$9.27
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.76
Costs to cover: 0.093%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Lighter: live order book, 2 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 MEXC live order book, 4 min ago	0.39 bp	0.5 bp −$1	3.6 bp −$36	21.7 bp −$2,167	45.1 bp −$22.5K
Sell Lighter live order book, 2 min ago	2.59 bp	3.9 bp −$4	10.6 bp −$106	62.2 bp −$6,218	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	12.892	+0.038%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.879	−0.061%	$511K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.892	+0.036%	$156K	—	150x	as long as short
Orderly PERP_LINK_USDC	+0.0005%	8h	12.882	−0.039%	$94K	$1.1M	20x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.779%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.874	−0.101%	$3K	$85K	10x	as long as short
Lighter LINKshort	+0.0096%	1h	12.891	+0.034%	$1.9M	$2.8M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.854	−0.256%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.881	−0.043%	$349K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.885	−0.013%	$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	12.859	−0.218%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.890	+0.023%	$118.9M	$301.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.885	−0.016%	$83.2M	$74.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.891	+0.031%	$27.0M	$81.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.880	−0.054%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.879	−0.062%	$123.9M	$15.2M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	12.887	long leg	$34.2M	$58.0M	300x
KuCoin LINKUSDTM	+0.0100%	8h	12.891	+0.031%	$22.7M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.881	−0.047%	$53.9M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.887	0.000%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.854	−0.254%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.877	−0.077%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.870	−0.131%	$578K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.881	−0.047%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.894	+0.054%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.890	+0.020%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.903	+0.124%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.890	+0.023%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.867	−0.151%	$631K	$787K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.878	−0.073%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.894	+0.054%	$541K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0108%	1h	12.897	+0.078%	$336K	$387K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.898	+0.085%	$935K	$2.8M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.896	+0.069%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.892	+0.039%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0293%	1h	12.898	+0.087%	$806K	$261K	50x	as long as short
Hyperliquid LINK	+0.0324%	1h	12.901	+0.109%	$80.4M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0397%	1h	12.886	−0.011%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0577%	8h	12.901	+0.109%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0843%	1h	12.864	−0.179%	$343K	$33K	10x	as long as short