Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.006%

Price spread now: Lighter against Gate+0.008%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$350.349% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 7 days+0.054%+$5 · spread now +0.008%, 7d avg −0.013%

Together, before fees−0.002%+ Points / potential airdropLighter: Season 3 · farm board$0 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 0.021% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LINK_USDT	13.107	0.0100	pay 0.0100% / 8h	1h 30m	$130.1M	$12.7M	75x
Short	Lighter LINK	13.108	0.0096	get 0.0012% / 1h	30m 40s	$2.1M	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$0.84
Price spread: +0.008% → −0.013%: $2.13
Slippage, 4 orders: −$19.88
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$33.58
Costs to cover: 0.349%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Lighter: live order book, 6 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 Gate live order book, 3 min ago	1.90 bp	13.6 bp −$14	20.4 bp −$204	34.4 bp −$3,443	77.4 bp −$38.7K
Sell Lighter live order book, 6 min ago	2.26 bp	2.9 bp −$3	12.8 bp −$128	71.5 bp −$7,151	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 −0.0090% / S +0.0167%	1h	13.113	+0.046%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.107	+0.002%	$347K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.123	+0.122%	$461K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.106	−0.005%	$716K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.114	+0.053%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.394%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.134	+0.204%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.101	−0.046%	$133K	$1.5M	20x	as long as short
Lighter LINKshort	+0.0096%	1h	13.108	+0.008%	$2.1M	$2.4M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.103	−0.031%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.117	+0.076%	$398K	$313K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.114	+0.053%	$77.4M	$23.8M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.112	+0.037%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.105	−0.016%	$275K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.104	−0.023%	$121.6M	$302.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.106	−0.008%	$84.5M	$70.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.106	−0.008%	$27.5M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.136	+0.221%	$184K	$172K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	13.107	long leg	$130.1M	$12.7M	75x
MEXC LINK_USDT	+0.0100%	8h	13.105	−0.015%	$36.2M	$56.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.107	0.000%	$22.4M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.103	−0.031%	$54.6M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.108	+0.008%	—	$21.5M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.155	+0.366%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.147	+0.305%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.146	+0.298%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.154	+0.359%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.119	+0.092%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.102	−0.035%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.129	+0.168%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.104	−0.023%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.082	−0.195%	$643K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.102	−0.036%	$675K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.106	−0.007%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.123	+0.122%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0175%	1h	13.113	+0.046%	$363K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.097	−0.076%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.114	+0.057%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0476%	8h	13.122	+0.114%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0697%	1h	13.112	+0.035%	$6.9M	$8.1M	50x	as long as short