LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0063%/8h= −6.9% APRnext payment −$0.08 per $10,000 · paid last 24h −0.041%

Price spread now: Phoenix against Arcus−0.226%49s7-day average — · you buy dearer than you sell

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

Long on Arcus Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.226% cheaper against Arcus than usual: you would sell low and buy high (−$23 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. 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	Arcus LINK-USD	13.233	0.0100	pay 0.0013% / 1h	59m 54s	$186K	$172K	10x
Short	Phoenix LINK	13.203	0.0037	get 0.0005% / 1h	59m 54s	$3K	$81K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Arcus. 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 ArcusbpFee PhoenixbpOrdersPrice spread, now −0.226%Rate

Funding earned: −$13.32
Price spread: −0.226% → 0.000%: −$22.6
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$47.41
Costs to cover: 0.115%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 18 min ago; Phoenix: no order-book sample. 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 Arcus live order book, 18 min ago	6.07 bp	21.5 bp −$22	37.5 bp −$375	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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]	L −0.0090% / S +0.0167%	1h	13.222	−0.085%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.231	−0.017%	$488K	$2.4M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.221	−0.091%	$134K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0007%	1h	13.226	−0.053%	$725K	$128K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.295%	$4K	$48K	12x	as long as short
Phoenix LINKshort	+0.0037%	1h	13.203	−0.226%	$3K	$81K	10x
Orderly PERP_LINK_USDC	+0.0041%	8h	13.219	−0.106%	$134K	$1.5M	20x	as long as short
dYdX LINK-USD	+0.0056%	1h	13.223	−0.074%	$350K	$48K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.219	−0.102%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.214	−0.140%	$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	13.215	−0.136%	$404K	$313K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.235	+0.015%	$78.2M	$24.1M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.226	−0.054%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.220	−0.098%	$277K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.221	−0.091%	$123.0M	$303.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.220	−0.098%	$85.4M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.223	−0.076%	$27.9M	$86.0M	50x	as long as short
Arcus LINK-USDlong	+0.0100%	1h	13.233	long leg	$186K	$172K	10x
Gate LINK_USDT	+0.0100%	8h	13.220	−0.098%	$131.0M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.221	−0.091%	$37.0M	$57.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.224	−0.068%	$22.7M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.220	−0.098%	$55.1M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.219	−0.106%	—	$21.2M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.194	−0.297%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.204	−0.216%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.198	−0.264%	$595K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.207	−0.196%	$154K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.226	−0.053%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.219	−0.109%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.236	+0.023%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.222	−0.083%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.200	−0.253%	$649K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.217	−0.120%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.224	−0.068%	$555K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.221	−0.091%	$999K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.206	−0.204%	$5.3M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0223%	1h	13.231	−0.015%	$365K	$380K	15x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.219	−0.102%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0460%	8h	13.234	+0.008%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0691%	1h	13.228	−0.037%	$7.0M	$8.2M	50x	as long as short