LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0376%/8h= +41.1% APRnext payment +$3.76 per $10,000 · paid last 24h +0.065%

Price spread now: Phemex against KuCoin+0.038%50s7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$450.453% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.283%+$28 on $10k

Price spread, last 3 days (all we have)+0.118%+$12 · spread now +0.038%, 7d avg +0.101%

Together, before fees+0.401%+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.063% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.038% now, against its 7-day average of +0.101%). If the spread goes back, that is −$6 on $10k: about 13 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.283% in total) that is about 37 hours. 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	KuCoin LINKUSDTM	13.117	0.0100	pay 0.0100% / 8h	1h 30m	$22.4M	$15.6M	75x
Short	Phemex LINKUSDT	13.122	0.0476	get 0.0476% / 8h	1h 30m	$20.3M	$11.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against KuCoin. 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 KuCoinbpFee PhemexbpOrdersPrice spread, now +0.038%Rate

Funding earned: $78.88
Price spread: +0.038% → +0.101%: −$6.31
Slippage, 4 orders: −$21.34
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: $27.23
Costs to cover: 0.453%
Break-even: 4.6 days

Slippage from KuCoin: live order book, 3 min ago; Phemex: live order book, 4 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 KuCoin live order book, 3 min ago	1.14 bp	15.4 bp −$15	20.5 bp −$205	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	0.76 bp	9.6 bp −$10	14.2 bp −$142	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 −0.0090% / S +0.0167%	1h	13.117	−0.002%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.107	−0.075%	$347K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.123	+0.046%	$461K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.106	−0.081%	$716K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.117	−0.002%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.466%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.134	+0.127%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.113	−0.030%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.108	−0.068%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.103	−0.107%	$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	13.106	−0.084%	$398K	$313K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.124	+0.053%	$77.3M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.118	+0.005%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.105	−0.092%	$275K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.115	−0.015%	$121.7M	$302.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.117	0.000%	$84.6M	$70.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.119	+0.015%	$27.5M	$85.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.123	+0.046%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.114	−0.023%	$130.1M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.113	−0.030%	$36.3M	$56.3M	300x	as long as short
KuCoin LINKUSDTMlong	+0.0100%	8h	13.117	long leg	$22.4M	$15.6M	75x
Bitget LINKUSDT	+0.0100%	8h	13.115	−0.015%	$54.6M	$30.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.117	0.000%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.116	−0.009%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.147	+0.228%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.146	+0.221%	$594K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.154	+0.282%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.115	−0.015%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.113	−0.028%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.129	+0.091%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.104	−0.099%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.082	−0.271%	$643K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.104	−0.098%	$675K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.117	+0.002%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.123	+0.046%	$990K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0175%	1h	13.113	−0.030%	$363K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.097	−0.152%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.112	−0.038%	$5K	—	20x	as long as short
Phemex LINKUSDTshort	+0.0476%	8h	13.122	+0.038%	$20.3M	$11.5M	50x
Kraken Futures PF_LINKUSD	+0.0697%	1h	13.112	−0.041%	$6.9M	$8.1M	50x	as long as short