Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.003%

Price spread now: Lighter against Aster−0.033%7-day average −0.056% · 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−$21as in the Price arb table

costs, in and out, $10k−$230.233% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 7 days−0.055%−$6 · spread now −0.033%, 7d avg −0.056%

Together, before fees−0.193%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board−$19 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 0.023% dearer against Aster than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster LINKUSDT	13.039	0.0100	pay 0.0100% / 8h	7h 12m	$1.2M	$2.4M	50x
Short	Lighter LINK	13.035	0.0096	get 0.0012% / 1h	12m 11s	$1.9M	$2.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$0.84
Price spread: −0.033% → −0.056%: $2.26
Slippage, 4 orders: −$15.27
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$21.85
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from Aster: live order book, 1 min ago; Lighter: live order book, 5 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 Aster live order book, 1 min ago	2.31 bp	7.4 bp −$7	20.1 bp −$201	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.68 bp	2.9 bp −$3	9.3 bp −$93	76.0 bp −$7,602	doesn't fit

LINK on 39 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
Orderly PERP_LINK_USDC	−0.0126%	8h	13.033	−0.045%	$91K	$918K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	13.032	−0.050%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.034	−0.037%	$498K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0002%	1h	13.032	−0.052%	$107K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.899%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	13.036	−0.018%	$6.5M	$8.3M	50x	as long as short
Phoenix LINK	+0.0087%	1h	12.970	−0.525%	$3K	$85K	10x	as long as short
Lighter LINKshort	+0.0096%	1h	13.035	−0.033%	$1.9M	$2.9M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.021	−0.140%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.015	−0.179%	$350K	$320K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	13.042	+0.027%	$81.4M	$27.7M	10x	as long as short
Aster LINKUSDTlong	+0.0100%	8h	13.039	long leg	$1.2M	$2.4M	50x
Pacifica LINK	+0.0100%	1h	13.022	−0.127%	$277K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.036	−0.022%	$120.4M	$289.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.034	−0.037%	$84.3M	$70.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.035	−0.029%	$27.4M	$77.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.035	−0.029%	$182K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.036	−0.022%	$135.1M	$17.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.035	−0.029%	$35.2M	$60.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.040	+0.009%	$23.2M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.033	−0.045%	$54.5M	$28.8M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.036	−0.022%	—	$22.9M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.044	+0.040%	$338K	$371K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.995	−0.339%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.991	−0.369%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.001	−0.291%	$586K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.994	−0.344%	$133K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.029	−0.075%	$83K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.036	−0.020%	$34K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.034	−0.037%	$13K	$58K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.014	−0.189%	$625K	$698K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.031	−0.058%	$621K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.036	−0.022%	$547K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	13.041	+0.017%	$937K	$3.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.007	−0.244%	$5.3M	$16.0M	75x	as long as short
Phemex LINKUSDT	+0.0310%	8h	13.047	+0.063%	$20.1M	$11.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0404%	1h	13.002	−0.279%	$4K	—	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0410%	1h	13.046	+0.059%	$862K	$311K	50x	as long as short
dYdX LINK-USD	+0.1009%	1h	13.008	−0.233%	$350K	$49K	10x	as long as short