After costs, if the gap returns to its 7d average, $10k−$27
spread now−0.078%7d average−0.017%fees + slippage, in and out−$21spread needed0.208%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit LINK_USDC-PERPETUAL | 13.054 | −0.0018 | get 0.0002% / 1h | 52m 25s | $705K | $80K | 50x |
| Short | Lighter LINK | 13.044 | 0.0072 | get 0.0009% / 1h | 52m 25s | $2.0M | $2.0M | 10x |
Deribit LINK_USDC-PERPETUAL
Lighter LINKPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$7.78
- Funding while held
- $2.7
- Slippage, 4 orders
- −$13.78
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$25.86
- Spread needed to break even
- 0.208%
Slippage from Deribit: live order book, 63 min ago; Lighter: live order book, 6 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0090%
- Per $10,000 a day
- +$2.70
- Average in range /8h
- —
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 Deribit live order book, 63 min ago | 2.69 bp | 7.0 bp −$7 | 13.1 bp −$131 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 6 min ago | 0.96 bp | 2.1 bp −$2 | 13.2 bp −$132 | 68.4 bp −$6,842 | doesn't fit |
LINK price on every exchange
against the cheapest. Click to use as the short leg.Injective12.400cheapest
Variational Omni13.014+4.956%HTX13.027+5.058%edgeX13.029+5.073%ApeX Omni13.041+5.169%Phoenix13.042+5.176%Extended13.042+5.181%
Injective
Variational Omni
HTX
ApeX Omni
Phoenix
ExtendedLighter13.044+5.190%
Bybit13.044+5.194%OKX13.044+5.194%BloFin13.044+5.194%Derive13.045+5.205%Pacifica13.047+5.216%Reya13.047+5.217%Bitget13.048+5.226%BingX13.048+5.226%Paradex13.048+5.229%Kalshi13.050+5.242%SoDEX13.050+5.242%Coinbase International13.051+5.250%dYdX13.051+5.253%Binance13.052+5.255%Kraken Futures13.053+5.264%Orderly13.053+5.266%Aevo13.053+5.266%Nado13.053+5.270%
Bybit
OKX
BloFin
Derive
Pacifica
Reya
Bitget
BingX
Paradex
SoDEX
Coinbase International
dYdX
Binance
Kraken Futures
Orderly
Aevo
NadoDeribit13.054+5.272%
Gate13.054+5.274%MEXC13.054+5.274%Polymarket Perps13.055+5.282%gTrade (Gains Network)13.056+5.286%KuCoin13.056+5.290%GMX13.057+5.298%Aster13.060+5.326%Backpack13.062+5.339%Phemex13.063+5.347%Arcus13.066+5.371%SunX13.066+5.375%Hyperliquid13.072+5.419%
Gate
MEXC
Polymarket Perps
gTrade (Gains Network)
KuCoin
GMX
Aster
Backpack
Phemex
Arcus
SunX
HyperliquidLINK on 39 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective LINK/USDC PERP | −5.008% | +0.0033% | 1h | $4K | $106K | 12x | as long as short |
| Variational Omni LINK | −0.300% | −0.0003% | 8h | $3.2M | $1.2M | — | as long as short |
| HTX LINK-USDT | −0.203% | +0.0100% | 8h | $647K | $1.1M | 75x | as long as short |
| edgeX LINKUSDC | −0.189% | +0.0100% | 4h | $43K | $311K | 20x | as long as short |
| ApeX Omni LINKUSDT | −0.097% | +0.0100% | 1h | $132K | $652K | 50x | as long as short |
| Phoenix LINK | −0.091% | −0.0062% | 1h | $3K | $47K | 10x | as long as short |
| Extended LINK-USD | −0.087% | +0.0104% | 1h | $682K | $1.9M | 25x | as long as short |
| Lighter LINKshort | −0.078% | +0.0072% | 1h | $2.0M | $2.0M | 10x | |
| Bybit LINKUSDT | −0.074% | +0.0019% | 8h | $80.7M | $61.0M | 75x | as long as short |
| OKX LINK-USDT-SWAP | −0.074% | +0.0086% | 8h | $27.9M | $89.8M | 50x | as long as short |
Show all 39 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| BloFin LINK-USDT | −0.074% | +0.0181% | 8h | $5.2M | $10.5M | 75x | as long as short |
| Derive LINK-PERP | −0.064% | +0.0100% | 1h | $28K | $10K | 10x | as long as short |
| Pacifica LINK | −0.053% | +0.0100% | 1h | $273K | $170K | 10x | as long as short |
| Reya LINKRUSDPERP | −0.052% | +0.0356% | 1h | $4K | $400 | 20x | as long as short |
| Bitget LINKUSDT | −0.044% | +0.0100% | 8h | $54.2M | $30.1M | 75x | as long as short |
| BingX LINK-USDT | −0.044% | +0.0100% | 8h | — | $19.5M | — | as long as short |
| Paradex LINK-USD-PERP | −0.041% | +0.0044% | 8h | $32K | $2K | 20x | as long as short |
| Kalshi KXLINKPERP | −0.028% | 0.0000% | 8h | $450K | $2.2M | 3.7x | as long as short |
| SoDEX LINK-USD | −0.028% | +0.0056% | 1h | $8K | $45K | 10x | as long as short |
| Coinbase International LINK-PERP-INTX | −0.021% | +0.0088% | 1h | $1.0M | $2.7M | 50x | as long as short |
| dYdX LINK-USD | −0.018% | 0.0000% | 1h | $346K | $60K | 10x | as long as short |
| Binance LINKUSDT | −0.016% | +0.0061% | 8h | $118.6M | $283.7M | 75x | as long as short |
| Kraken Futures PF_LINKUSD | −0.008% | −0.0173% | 1h | $6.1M | $6.7M | 50x | as long as short |
| Orderly PERP_LINK_USDC | −0.005% | +0.0100% | 8h | $222K | $1.5M | 20x | as long as short |
| Aevo LINK-PERP | −0.005% | +0.0096% | 1h | $549K | $340 | 3x | as long as short |
| Nado LINK-PERP | −0.002% | +0.0100% | 1h | $434K | $360K | 10x | as long as short |
| Deribit LINK_USDC-PERPETUALlong | 0.000% | −0.0018% | 1h | $705K | $80K | 50x | |
| Gate LINK_USDT | +0.002% | +0.0005% | 8h | $133.0M | $12.3M | 75x | as long as short |
| MEXC LINK_USDT | +0.002% | +0.0060% | 8h | $34.0M | $56.1M | 300x | as long as short |
| Polymarket Perps LINK-USD | +0.010% | +0.0100% | 1h | $74K | $44K | 10x | as long as short |
| gTrade (Gains Network) LINK/USD | +0.014% | L +0.0003% / S −0.0007% | 1h | $178K | — | 150x | as long as short |
| KuCoin LINKUSDTM | +0.018% | +0.0100% | 8h | $21.3M | $17.7M | 75x | as long as short |
| GMX LINK/USD [LINK-USDC] | +0.025% | L −0.0084% / S +0.0156% | 1h | $1.7M | — | 200x | as long as short |
| Aster LINKUSDT | +0.051% | +0.0100% | 8h | $1.4M | $2.0M | 50x | as long as short |
| Backpack LINK_USDC_PERP | +0.064% | +0.0107% | 1h | $388K | $360K | 15x | as long as short |
| Phemex LINKUSDT | +0.071% | +0.0319% | 8h | $20.4M | $11.3M | 50x | as long as short |
| Arcus LINK-USD | +0.094% | +0.0100% | 1h | $184K | $197K | 10x | as long as short |
| SunX LINK-USDT | +0.098% | +0.0100% | 8h | $33K | $1.6M | 30x | as long as short |
| Hyperliquid LINK | +0.140% | +0.0100% | 1h | $79.3M | $20.7M | 10x | as long as short |