LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.003%

Price spread now: Lighter against Arcus−0.169%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$390.385% of the position

Long on Arcus Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.051%−$5 on $10k

Price spread, last 4 days (all we have)+0.124%+$12 · spread now −0.169%, 7d avg −0.078%

Together, before fees+0.073%+ Points / potential airdropLighter: Season 3 · farm board+$7 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 0.091% cheaper against Arcus than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.078%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus LINK-USD	12.999	0.0100	pay 0.0013% / 1h	28m 47s	$182K	$167K	10x
Short	Lighter LINK	12.977	0.0096	get 0.0012% / 1h	28m 47s	$1.9M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Arcus. 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 ArcusbpFee LighterbpOrdersPrice spread, now −0.169%Rate

Funding earned: −$0.84
Price spread: −0.169% → −0.078%: −$9.14
Slippage, 4 orders: −$34.01
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$48.5
Costs to cover: 0.385%
Break-even: never at this rate

Slippage from Arcus: live order book, 24 min ago; Lighter: live order book, 8 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 Arcus live order book, 24 min ago	6.13 bp	20.6 bp −$21	35.7 bp −$357	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	2.14 bp	4.4 bp −$4	11.7 bp −$117	66.5 bp −$6,653	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	12.978	−0.165%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.988	−0.082%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.980	−0.146%	$185K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.608%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0050%	8h	12.973	−0.200%	$117K	$1.1M	20x	as long as short
Phoenix LINK	+0.0074%	1h	12.990	−0.071%	$3K	$82K	10x	as long as short
Lighter LINKshort	+0.0096%	1h	12.977	−0.169%	$1.9M	$2.8M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.983	−0.120%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.976	−0.173%	$392K	$308K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.980	−0.145%	$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	12.988	−0.084%	$277K	$181K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.976	−0.177%	$120.5M	$300.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.973	−0.200%	$83.9M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.977	−0.169%	$27.4M	$81.4M	50x	as long as short
Arcus LINK-USDlong	+0.0100%	1h	12.999	long leg	$182K	$167K	10x
Gate LINK_USDT	+0.0100%	8h	12.976	−0.177%	$128.6M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.974	−0.192%	$32.9M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.977	−0.169%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.977	−0.169%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.974	−0.192%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.980	−0.146%	$341K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.006	+0.056%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.995	−0.028%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.007	+0.061%	$584K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.997	−0.015%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.985	−0.108%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.973	−0.198%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.993	−0.046%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.979	−0.154%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.970	−0.223%	$636K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.970	−0.221%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.980	−0.149%	$544K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.005	+0.046%	$926K	$2.8M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0135%	1h	12.980	−0.146%	$788K	$210K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.974	−0.192%	$5.3M	$15.8M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0244%	1h	12.980	−0.143%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0344%	1h	12.991	−0.062%	$81.2M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0392%	1h	12.978	−0.158%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0550%	8h	12.996	−0.023%	$20.1M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0687%	1h	12.985	−0.105%	$344K	$30K	10x	as long as short