LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0447%/8h= +49.0% APRnext payment +$4.47 per $10,000 · paid last 24h +0.076%

Price spread now: Phemex against Bitget+0.139%7-day average +0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.272%+$27 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.139%, 7d avg +0.117%

Together, before fees+0.276%+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Phemex is 0.023% dearer against Bitget than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.117%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.272% in total (about 14.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.47 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget LINKUSDT	12.933	0.0100	pay 0.0100% / 8h	1h 03m	$54.0M	$30.4M	75x
Short	Phemex LINKUSDT	12.951	0.0547	get 0.0547% / 8h	1h 03m	$20.0M	$11.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now +0.139%Rate

Funding earned: $93.95
Price spread: +0.139% → +0.117%: $2.26
Slippage, 4 orders: −$17.41
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: $54.8
Costs to cover: 0.414%
Break-even: 2.9 days

Slippage from Bitget: live order book, 5 min ago; Phemex: live order book, 5 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 Bitget live order book, 5 min ago	0.39 bp	9.5 bp −$9	15.8 bp −$158	24.4 bp −$2,438	doesn't fit
Sell Phemex live order book, 5 min ago	3.47 bp	11.6 bp −$12	16.7 bp −$167	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	12.935	+0.013%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0038%	8h	12.929	−0.031%	$93K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.946	+0.102%	$513K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.936	+0.022%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.121%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.972	+0.301%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.936	+0.020%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.933	−0.001%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.940	+0.050%	$355K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.940	+0.054%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.938	+0.039%	$275K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.937	+0.031%	$119.5M	$299.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.930	−0.023%	$83.6M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.934	+0.008%	$27.0M	$80.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.953	+0.155%	$181K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.937	+0.031%	$134.8M	$17.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.938	+0.039%	$34.4M	$59.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.940	+0.054%	$22.9M	$12.5M	75x	as long as short
Bitget LINKUSDTlong	+0.0100%	8h	12.933	long leg	$54.0M	$30.4M	75x
BingX LINK-USDT	+0.0100%	8h	12.934	+0.008%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.944	+0.085%	$336K	$387K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.954	+0.164%	$3.3M	$1.9M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.953	+0.151%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.952	+0.149%	$584K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.962	+0.224%	$133K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.936	+0.023%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.933	−0.001%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.951	+0.140%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.933	0.000%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.927	−0.047%	$631K	$784K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.930	−0.021%	$634K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.937	+0.027%	$542K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.963	+0.232%	$933K	$2.8M	50x	as long as short
Hyperliquid LINK	+0.0137%	1h	12.946	+0.101%	$81.0M	$28.0M	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0152%	1h	12.940	+0.055%	$809K	$268K	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0192%	1h	12.937	+0.032%	$6.5M	$8.5M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.943	+0.077%	$5.2M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0399%	1h	12.928	−0.035%	$4K	—	20x	as long as short
Phemex LINKUSDTshort	+0.0547%	8h	12.951	+0.139%	$20.0M	$11.3M	50x
dYdX LINK-USD	+0.0569%	1h	12.937	+0.027%	$345K	$45K	10x	as long as short