Funding arb · Price arb /

LINK

all LINK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.003%

Price spread now: Lighter against SunX−0.163%7-day average −0.111% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.139%−$14 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now −0.163%, 7d avg −0.111%

Together, before fees−0.113%+ Points / potential airdropLighter: Season 3 · farm board−$11 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 0.051% cheaper against SunX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.111%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	12.856	0.0100	pay 0.0100% / 8h	22m 03s	$33K	$1.4M	30x
Short	Lighter LINK	12.835	0.0096	get 0.0012% / 1h	22m 03s	$1.9M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now −0.163%Rate

Funding earned: −$0.84
Price spread: −0.163% → −0.111%: −$5.14
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$13.98
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 3 min ago; Lighter: live order book, 10 min ago. Net counts fees only.

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 SunX live order book, 3 min ago	500.02 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 10 min ago	2.57 bp	3.8 bp −$4	12.3 bp −$123	76.2 bp −$7,624	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 −0.0087% / S +0.0165%	1h	12.837	−0.143%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0082%	8h	12.831	−0.191%	$90K	$1.0M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.847	−0.069%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.838	−0.140%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.544%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.857	+0.007%	$3K	$85K	10x	as long as short
Lighter LINKshort	+0.0096%	1h	12.835	−0.163%	$1.9M	$2.9M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.844	−0.091%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.843	−0.098%	$345K	$342K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.843	−0.101%	$80.2M	$28.1M	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	12.838	−0.136%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.847	−0.068%	$273K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.836	−0.152%	$118.7M	$299.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.830	−0.199%	$83.0M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.835	−0.160%	$27.0M	$79.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.857	+0.011%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.836	−0.152%	$132.0M	$17.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.836	−0.152%	$34.5M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.836	−0.152%	$22.6M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.830	−0.199%	$53.6M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.831	−0.191%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.841	−0.114%	$333K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.835	−0.159%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.846	−0.073%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.839	−0.128%	$574K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.853	−0.020%	$131K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.843	−0.098%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.833	−0.174%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	12.856	long leg	$33K	$1.4M	30x
SoDEX LINK-USD	+0.0100%	1h	12.836	−0.152%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.835	−0.163%	$627K	$776K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0103%	1h	12.837	−0.146%	$6.4M	$8.5M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.830	−0.202%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.840	−0.118%	$538K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.834	−0.168%	$929K	$2.9M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.840	−0.121%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0334%	1h	12.845	−0.083%	$803K	$268K	50x	as long as short
Reya LINKRUSDPERP	+0.0401%	1h	12.833	−0.176%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0552%	8h	12.849	−0.051%	$19.8M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0606%	1h	12.840	−0.120%	$342K	$45K	10x	as long as short