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 +0.003%

Price spread now: Aster against Lighter−0.115%7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$280.280% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.155%+$16 on $10k

Price spread, last 7 days+0.121%+$12 · spread now −0.115%, 7d avg +0.056%

Together, before fees+0.277%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board+$28 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: Aster is 0.172% cheaper against Lighter than usual: you would sell low and buy high, −$17 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	Lighter LINK	13.152	0.0096	pay 0.0012% / 1h	34m 13s	$2.1M	$2.4M	10x
Short	Aster LINKUSDT	13.137	0.0100	get 0.0100% / 8h	1h 34m	$1.5M	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now −0.115%Rate

Funding earned: $0.84
Price spread: −0.115% → +0.056%: −$17.16
Slippage, 4 orders: −$19.99
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$44.31
Costs to cover: 0.280%
Break-even: 376.2 days

Slippage from Lighter: live order book, 3 min ago; Aster: live order book, 4 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 Lighter live order book, 3 min ago	2.26 bp	3.6 bp −$4	8.1 bp −$81	77.9 bp −$7,788	doesn't fit
Sell Aster live order book, 4 min ago	1.90 bp	7.0 bp −$7	14.1 bp −$141	doesn't fit	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	13.140	−0.093%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.146	−0.046%	$348K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.145	−0.057%	$460K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.146	−0.045%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.142	−0.076%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.719%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.166	+0.107%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.143	−0.069%	$133K	$1.5M	20x	as long as short
Lighter LINKlong	+0.0096%	1h	13.152	long leg	$2.1M	$2.4M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	13.141	−0.085%	$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	13.126	−0.199%	$399K	$312K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.156	+0.029%	$77.6M	$23.8M	10x	as long as short
Aster LINKUSDTshort	+0.0100%	8h	13.137	−0.115%	$1.5M	$2.8M	50x
Pacifica LINK	+0.0100%	1h	13.144	−0.060%	$275K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.146	−0.047%	$122.0M	$302.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.147	−0.039%	$84.8M	$70.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.149	−0.024%	$27.6M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.155	+0.022%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.143	−0.069%	$130.5M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.146	−0.047%	$36.5M	$56.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.146	−0.047%	$22.2M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.149	−0.024%	$54.8M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.149	−0.024%	—	$21.5M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.155	+0.022%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.160	+0.057%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.159	+0.053%	$595K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.182	+0.227%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.127	−0.191%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.140	−0.091%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.143	−0.069%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.145	−0.054%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.127	−0.191%	$645K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.142	−0.076%	$675K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.146	−0.050%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.135	−0.130%	$993K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0173%	1h	13.157	+0.037%	$364K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.147	−0.039%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.123	−0.225%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0471%	8h	13.161	+0.067%	$20.4M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0695%	1h	13.157	+0.036%	$6.9M	$8.0M	50x	as long as short