Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.002%

Price spread now: Lighter against MEXC+0.011%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$70.069% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 7 days−0.007%−$1 · spread now +0.011%, 7d avg −0.019%

Together, before fees−0.096%+ Points / potential airdropLighter: Season 3 · farm board−$10 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 0.030% dearer against MEXC than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC LINK_USDT	12.977	0.0100	pay 0.0100% / 8h	5h 08m	$32.5M	$57.4M	300x
Short	Lighter LINK	12.978	0.0096	get 0.0012% / 1h	8m 17s	$1.9M	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$0.84
Price spread: +0.011% → −0.019%: $2.99
Slippage, 4 orders: −$6.9
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.75
Costs to cover: 0.069%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; Lighter: 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 MEXC live order book, 6 min ago	0.38 bp	0.6 bp −$1	4.1 bp −$41	23.3 bp −$2,330	43.6 bp −$21.8K
Sell Lighter live order book, 4 min ago	2.51 bp	2.9 bp −$3	10.0 bp −$100	66.6 bp −$6,661	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	12.979	+0.016%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.991	+0.108%	$481K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.982	+0.035%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.446%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0063%	8h	12.979	+0.015%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.994	+0.131%	$964K	$2.7M	50x	as long as short
Lighter LINKshort	+0.0096%	1h	12.978	+0.011%	$1.9M	$2.8M	10x
Phoenix LINK	+0.0098%	1h	12.989	+0.096%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.982	+0.040%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.979	+0.013%	$393K	$311K	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	12.979	+0.014%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.979	+0.019%	$274K	$174K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.977	+0.002%	$120.0M	$296.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.974	−0.023%	$83.8M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.967	−0.077%	$27.4M	$82.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.992	+0.116%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.974	−0.023%	$128.2M	$12.8M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	12.977	long leg	$32.5M	$57.4M	300x
KuCoin LINKUSDTM	+0.0100%	8h	12.982	+0.039%	$22.9M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.979	+0.015%	$54.0M	$29.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.982	+0.039%	—	$22.4M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.986	+0.069%	$344K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	+0.092%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.993	+0.124%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.011	+0.259%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.017	+0.308%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.982	+0.039%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.977	+0.003%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.992	+0.116%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.977	0.000%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.963	−0.106%	$639K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.975	−0.019%	$647K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.980	+0.023%	$544K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0143%	1h	12.984	+0.055%	$774K	$177K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.988	+0.085%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.974	−0.021%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0555%	1h	12.982	+0.039%	$6.8M	$8.1M	50x	as long as short
dYdX LINK-USD	+0.0580%	1h	12.979	+0.019%	$344K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0613%	8h	12.995	+0.139%	$20.1M	$11.4M	50x	as long as short
Hyperliquid LINK	+0.0641%	1h	12.991	+0.108%	$81.7M	$27.3M	10x	as long as short