LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Nado against Lighter−0.115%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$190.195% of the position

Long on Lighter Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.051%+$5 on $10k

Price spread, last 3 days (all we have)+0.596%+$60 · spread now −0.115%, 7d avg +0.009%

Together, before fees+0.647%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board+$65 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: Nado is 0.124% cheaper against Lighter than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter LINK	13.184	0.0096	pay 0.0012% / 1h	39m 19s	$2.1M	$2.3M	10x
Short	Nado LINK-PERP	13.169	0.0100	get 0.0012% / 1h	39m 19s	$401K	$296K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.115%Rate

Funding earned: $0.84
Price spread: −0.115% → +0.009%: −$12.38
Slippage, 4 orders: −$12.47
Fee Lighter: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$31.01
Costs to cover: 0.195%
Break-even: 265.4 days

Slippage from Lighter: live order book, 8 min ago; Nado: live order book, 9 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, 8 min ago	2.18 bp	2.3 bp −$2	8.0 bp −$80	75.0 bp −$7,497	doesn't fit
Sell Nado live order book, 9 min ago	0.38 bp	7.2 bp −$7	17.0 bp −$170	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 −0.0091% / S +0.0165%	1h	13.173	−0.086%	$1.7M	—	200x	as long as short
Variational Omni LINK	−0.0040%	8h	13.116	−0.520%	$3.3M	$1.2M	—	as long as short
Phoenix LINK	−0.0012%	1h	13.073	−0.840%	$9K	$79K	10x	as long as short
dYdX LINK-USD	0.0000%	1h	13.174	−0.078%	$349K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.153	−0.237%	$465K	$2.2M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.185	+0.008%	$702K	$108K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	13.186	+0.016%	$158K	—	150x	as long as short
Kraken Futures PF_LINKUSD	+0.0025%	1h	13.181	−0.021%	$6.2M	$6.4M	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.948%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0056%	1h	13.180	−0.031%	$997K	$2.7M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_LINK_USDC	+0.0066%	8h	13.185	+0.006%	$138K	$1.6M	20x	as long as short
OKX LINK-USDT-SWAP	+0.0073%	8h	13.183	−0.009%	$27.4M	$83.1M	50x	as long as short
Bybit LINKUSDT	+0.0080%	8h	13.185	+0.006%	$84.7M	$65.6M	75x	as long as short
HTX LINK-USDT	+0.0094%	8h	13.153	−0.233%	$640K	$882K	75x	as long as short
Lighter LINKlong	+0.0096%	1h	13.184	long leg	$2.1M	$2.3M	10x
Paradex LINK-USD-PERP	+0.0099%	8h	13.179	−0.040%	$32K	$2K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	13.169	−0.115%	$401K	$296K	10x
Hyperliquid LINK	+0.0100%	1h	13.184	−0.001%	$77.4M	$22.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.174	−0.077%	$1.4M	$2.6M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.180	−0.034%	$276K	$161K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.184	−0.003%	$121.6M	$293.5M	75x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.136	−0.365%	$198K	$153K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.172	−0.092%	$131.8M	$12.2M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.176	−0.062%	$35.6M	$55.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.176	−0.062%	$21.7M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.180	−0.031%	$54.8M	$29.7M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.183	−0.009%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.196	+0.090%	$359K	$366K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.075	−0.829%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.084	−0.760%	$586K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.082	−0.775%	$132K	$649K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.174	−0.077%	$78K	$59K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.151	−0.249%	$25K	$13K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.191	+0.048%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.177	−0.054%	$5K	$40K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	13.181	−0.025%	$644K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.185	+0.006%	$555K	$340	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.112	−0.547%	$5.2M	$14.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0370%	1h	13.170	−0.106%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0448%	8h	13.191	+0.052%	$20.4M	$11.3M	50x	as long as short