LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0385%/8h= +42.2% APRnext payment +$3.85 per $10,000 · paid last 24h +0.077%

Price spread now: Phemex against Bybit+0.167%7-day average +0.123% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$310.314% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.307%+$31 on $10k

Price spread, last 3 days (all we have)−0.026%−$3 · spread now +0.167%, 7d avg +0.123%

Together, before fees+0.281%+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Phemex is 0.044% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.123%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LINKUSDT	13.138	0.0100	pay 0.0100% / 8h	27m 51s	$84.6M	$71.1M	75x
Short	Phemex LINKUSDT	13.160	0.0485	get 0.0485% / 8h	27m 51s	$20.4M	$11.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.167%Rate

Funding earned: $80.95
Price spread: +0.167% → +0.123%: $4.41
Slippage, 4 orders: −$8.36
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: $54
Costs to cover: 0.314%
Break-even: 2.3 days

Slippage from Bybit: live order book, 1 min ago; Phemex: live order book, 6 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 Bybit live order book, 1 min ago	0.38 bp	6.7 bp −$7	10.9 bp −$109	30.6 bp −$3,056	doesn't fit
Sell Phemex live order book, 6 min ago	0.38 bp	9.2 bp −$9	15.6 bp −$156	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 +0.0167%	1h	13.141	+0.025%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.152	+0.107%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.143	+0.042%	$725K	$133K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.142	+0.027%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.171	+0.250%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.617%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.138	0.000%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.138	−0.002%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.142	+0.032%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.146	+0.061%	$401K	$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	13.140	+0.015%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.147	+0.072%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.141	+0.023%	$122.2M	$304.7M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	13.138	long leg	$84.6M	$71.1M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	13.144	+0.046%	$27.7M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.160	+0.167%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.143	+0.038%	$130.2M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.141	+0.023%	$36.6M	$57.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.145	+0.053%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.139	+0.008%	$54.6M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.141	+0.023%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.146	+0.061%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.162	+0.184%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.145	+0.055%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.173	+0.266%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.143	+0.038%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.137	−0.005%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.157	+0.148%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.138	0.000%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.127	−0.083%	$646K	$884K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.138	−0.003%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.142	+0.031%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.146	+0.061%	$995K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.143	+0.038%	$5.3M	$17.3M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0244%	1h	13.148	+0.076%	$363K	$377K	15x	as long as short
Hyperliquid LINK	+0.0280%	1h	13.155	+0.132%	$78.0M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.137	−0.007%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0478%	1h	13.147	+0.066%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDTshort	+0.0485%	8h	13.160	+0.167%	$20.4M	$11.6M	50x
dYdX LINK-USD	+0.0682%	1h	13.151	+0.098%	$348K	$48K	10x	as long as short