LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0186%/8h= +20.4% APRnext payment +$0.23 per $10,000 · paid last 24h +0.044%

Price spread now: Lighter against GMX−0.006%7-day average −0.041% · you buy dearer than you sell

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

Long on GMX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.130%+$13 on $10k

Price spread, last 4 days (all we have)−0.093%−$9 · spread now −0.006%, 7d avg −0.041%

Together, before fees+0.037%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.035% dearer against GMX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	13.006	L −0.0090% / S +0.0167%	get 0.0011% / 1h	9m 47s	$1.8M	—	200x
Short	Lighter LINK	13.005	0.0096	get 0.0012% / 1h	9m 47s	$1.9M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GMX. 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 GMXbpFee LighterbpOrdersPrice spread, now −0.006%Rate

Funding earned: $39.14
Price spread: −0.006% → −0.041%: $3.5
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $30.63
Costs to cover: 0.120%
Break-even: 1.5 days

Slippage unknown: GMX: no order-book sample; Lighter: live order book, 2 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 GMX no order-book sample	—	—	—	—	—
Sell Lighter live order book, 2 min ago	2.51 bp	2.9 bp −$3	10.0 bp −$100	66.6 bp −$6,661	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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]long	L −0.0090% / S +0.0167%	1h	13.006	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.018	+0.091%	$482K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.008	+0.015%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.656%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	13.004	−0.012%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.024	+0.141%	$964K	$2.7M	50x	as long as short
Lighter LINKshort	+0.0096%	1h	13.005	−0.006%	$1.9M	$2.8M	10x
Deribit LINK_USDC-PERPETUAL	+0.0096%	1h	13.008	+0.019%	$773K	$175K	50x	as long as short
Phoenix LINK	+0.0098%	1h	13.026	+0.154%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.019	+0.104%	$31K	$2K	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	13.013	+0.057%	$394K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.004	−0.011%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.017	+0.091%	$275K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.988	−0.135%	$120.1M	$296.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.988	−0.135%	$83.9M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.987	−0.143%	$27.4M	$82.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.031	+0.195%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.999	−0.051%	$128.5M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.990	−0.120%	$32.5M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.003	−0.020%	$22.9M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.984	−0.166%	$54.0M	$29.8M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.991	−0.112%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.006	+0.003%	$344K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	−0.128%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.009	+0.029%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.996	−0.075%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.017	+0.088%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.024	+0.141%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.004	−0.016%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.028	+0.173%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.005	−0.005%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.996	−0.072%	$641K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.983	−0.173%	$647K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.005	−0.008%	$545K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.010	+0.034%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	13.004	−0.009%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.008	+0.020%	$6.8M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0575%	1h	13.016	+0.081%	$345K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0590%	8h	13.019	+0.103%	$20.1M	$11.4M	50x	as long as short
Hyperliquid LINK	+0.0647%	1h	13.004	−0.012%	$81.8M	$27.3M	10x	as long as short