Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.003%

Price spread now: edgeX against Lighter+0.029%49s7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$230.228% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.139%+$14 on $10k

Price spread, last 4 days (all we have)+0.748%+$75 · spread now +0.029%, 7d avg +0.001%

Together, before fees+0.887%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$89 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: edgeX is 0.027% dearer against Lighter than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.001%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	12.834	0.0096	pay 0.0012% / 1h	20m 21s	$1.9M	$2.9M	10x
Short	edgeX LINKUSDC	12.838	0.0100	get 0.0050% / 4h	20m 21s	$43K	$307K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.029%Rate

Funding earned: $0.84
Price spread: +0.029% → +0.001%: $2.73
Slippage, 4 orders: −$13.79
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$19.22
Costs to cover: 0.228%
Break-even: 167.2 days

Slippage from Lighter: live order book, 12 min ago; edgeX: live order book, 18 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, 12 min ago	2.57 bp	5.3 bp −$5	11.8 bp −$118	74.6 bp −$7,457	doesn't fit
Sell edgeX live order book, 18 min ago	2.33 bp	6.9 bp −$7	10.7 bp −$107	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 −0.0087% / S +0.0165%	1h	12.832	−0.021%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0084%	8h	12.834	−0.004%	$90K	$1.0M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.838	+0.030%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.832	−0.022%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.385%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.842	+0.062%	$3K	$85K	10x	as long as short
Lighter LINKlong	+0.0096%	1h	12.834	long leg	$1.9M	$2.9M	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.838	+0.030%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.830	−0.035%	$345K	$342K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.852	+0.137%	$80.2M	$28.1M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	12.844	+0.077%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.836	+0.015%	$273K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.845	+0.082%	$118.8M	$299.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.836	+0.012%	$83.0M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.843	+0.066%	$27.0M	$79.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.856	+0.168%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.841	+0.051%	$132.1M	$17.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.844	+0.074%	$34.5M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.844	+0.074%	$22.6M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.840	+0.043%	$53.6M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.841	+0.051%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.837	+0.020%	$333K	$386K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.823	−0.087%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDCshort	+0.0100%	4h	12.838	+0.029%	$43K	$307K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	12.839	+0.036%	$574K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.845	+0.082%	$131K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.845	+0.082%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.833	−0.010%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.849	+0.114%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.831	−0.027%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.821	−0.105%	$626K	$776K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0103%	1h	12.833	−0.010%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.833	−0.011%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.846	+0.090%	$539K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.842	+0.059%	$929K	$2.9M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.838	+0.027%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0241%	1h	12.838	+0.026%	$803K	$268K	50x	as long as short
Reya LINKRUSDPERP	+0.0401%	1h	12.838	+0.027%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0550%	8h	12.846	+0.090%	$19.8M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0636%	1h	12.833	−0.009%	$342K	$45K	10x	as long as short