LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0012%/8h= +1.3% APRnext payment +$0.02 per $10,000 · paid last 24h −0.011%

Price spread now: Phoenix against Deribit−0.047%50s7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.047% cheaper against Deribit than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 13 days of funding at the current rate ($0 a day). At the pace of the last 7 days (0.000% in total) that is about years. The two prices were read 50 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	Deribit LINK_USDC-PERPETUAL	13.115	0	get 0.0000% / 1h	9m 17s	$726K	$139K	50x
Short	Phoenix LINK	13.108	0.0012	get 0.0002% / 1h	9m 17s	$4K	$84K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Deribit. 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 DeribitbpFee PhoenixbpOrdersPrice spread, now −0.047%Rate

Funding earned: $2.54
Price spread: −0.047% → 0.000%: −$4.73
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$16.19
Costs to cover: 0.140%
Break-even: 51.6 days

Slippage unknown: Deribit: live order book, 5 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 Deribit live order book, 5 min ago	1.91 bp	6.2 bp −$6	11.6 bp −$116	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 −0.0091% / S +0.0167%	1h	13.111	−0.029%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.114	−0.003%	$472K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUALlong	0.0000%	1h	13.115	long leg	$726K	$139K	50x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.110	−0.039%	$133K	—	150x	as long as short
Phoenix LINKshort	+0.0012%	1h	13.108	−0.047%	$4K	$84K	10x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.450%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0044%	8h	13.109	−0.043%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.107	−0.061%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.100	−0.113%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.100	−0.108%	$400K	$310K	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	13.108	−0.048%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.108	−0.050%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.109	−0.043%	$121.8M	$305.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.107	−0.059%	$84.5M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.106	−0.066%	$27.6M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.116	+0.010%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.106	−0.066%	$130.0M	$12.9M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.111	−0.028%	$36.1M	$58.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.106	−0.066%	$22.7M	$15.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.107	−0.059%	$54.5M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.111	−0.028%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.083	−0.245%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.101	−0.107%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.087	−0.212%	$586K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.106	−0.066%	$152K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.111	−0.028%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.106	−0.069%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.124	+0.070%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.111	−0.028%	$5K	$35K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.100	−0.110%	$645K	$880K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.097	−0.135%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.112	−0.018%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.116	+0.010%	$994K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0212%	1h	13.119	+0.033%	$362K	$376K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.088	−0.204%	$5.2M	$16.8M	75x	as long as short
Hyperliquid LINK	+0.0295%	1h	13.122	+0.056%	$77.8M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.105	−0.076%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0479%	1h	13.119	+0.030%	$6.9M	$8.2M	50x	as long as short
Phemex LINKUSDT	+0.0484%	8h	13.125	+0.079%	$20.3M	$11.6M	50x	as long as short
dYdX LINK-USD	+0.0530%	1h	13.105	−0.075%	$347K	$48K	10x	as long as short