LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0189%/8h= +20.6% APRnext payment +$0.24 per $10,000 · paid last 24h +0.011%

Price spread now: Phoenix against GMX−0.174%7-day average — · you buy dearer than you sell

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

Long on GMX 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

Funding pays, the price is against you. Phoenix is 0.174% cheaper against GMX than usual: you would sell low and buy high (spread −0.174% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 3.1 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX LINK/USD [LINK-USDC]	12.942	L −0.0090% / S +0.0167%	get 0.0011% / 1h	52m 52s	$1.8M	—	200x
Short	Phoenix LINK	12.920	0.0099	get 0.0012% / 1h	52m 52s	$3K	$84K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against GMX. 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 GMXbpFee PhoenixbpOrdersPrice spread, now −0.174%Rate

Funding earned: $39.59
Price spread: −0.174% → 0.000%: −$17.42
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $3.17
Costs to cover: 0.190%
Break-even: 6.4 days

Slippage unknown: GMX: no order-book sample; 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 GMX no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

GMX and 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]long	L −0.0090% / S +0.0167%	1h	12.942	long leg	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	12.950	+0.056%	$489K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.943	+0.002%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.190%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0051%	1h	12.947	+0.040%	$773K	$189K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0061%	8h	12.942	−0.003%	$117K	$1.4M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.940	−0.017%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.954	+0.090%	$943K	$2.7M	50x	as long as short
Phoenix LINKshort	+0.0099%	1h	12.920	−0.174%	$3K	$84K	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.942	−0.004%	$31K	$2K	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	12.943	+0.001%	$391K	$310K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.945	+0.021%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.946	+0.027%	$273K	$173K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.935	−0.057%	$119.7M	$297.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.931	−0.088%	$83.5M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.935	−0.057%	$27.3M	$81.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.959	+0.129%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.938	−0.034%	$127.8M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.936	−0.049%	$32.3M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.944	+0.013%	$22.8M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.935	−0.057%	$53.8M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.936	−0.049%	—	$22.4M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.956	+0.108%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.951	+0.066%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.944	+0.013%	$583K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.911	−0.242%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.949	+0.051%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.944	+0.014%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.957	+0.110%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.943	+0.005%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.933	−0.072%	$633K	$703K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.936	−0.053%	$637K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.944	+0.012%	$543K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0137%	1h	12.947	+0.036%	$339K	$388K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.937	−0.041%	$5.3M	$15.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	12.941	−0.011%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0395%	1h	12.945	+0.021%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0445%	1h	12.957	+0.113%	$81.5M	$27.2M	10x	as long as short
dYdX LINK-USD	+0.0483%	1h	12.949	+0.049%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0611%	8h	12.956	+0.106%	$20.0M	$11.4M	50x	as long as short