LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0380%/8h= +41.6% APRnext payment +$3.80 per $10,000 · paid last 24h +0.070%

Price spread now: Phemex against MEXC+0.061%50s7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs+$5as 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−$220.216% of the position

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.265%+$27 on $10k

Price spread, last 3 days (all we have)+0.105%+$11 · spread now +0.061%, 7d avg +0.095%

Together, before fees+0.370%+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.034% cheaper against MEXC than usual: you would sell low and buy high (spread +0.061% now, against its 7-day average of +0.095%). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.265% in total) that is about 21 hours. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.265% in total (about 13.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.80 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	MEXC LINK_USDT	13.135	0.0100	pay 0.0100% / 8h	2h 30m	$36.3M	$56.3M	300x
Short	Phemex LINKUSDT	13.143	0.0480	get 0.0480% / 8h	2h 30m	$20.3M	$11.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against MEXC. 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 MEXCbpFee PhemexbpOrdersPrice spread, now +0.061%Rate

Funding earned: $79.85
Price spread: +0.061% → +0.095%: −$3.37
Slippage, 4 orders: −$9.56
Fee MEXC: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: $54.92
Costs to cover: 0.216%
Break-even: 2.2 days

Slippage from MEXC: live order book, 3 min ago; Phemex: live order book, 3 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 MEXC live order book, 3 min ago	0.38 bp	0.5 bp −$1	4.0 bp −$40	25.0 bp −$2,495	46.9 bp −$23.4K
Sell Phemex live order book, 3 min ago	0.38 bp	11.9 bp −$12	18.2 bp −$182	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 +0.0165%	1h	13.130	−0.036%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.131	−0.033%	$466K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.134	−0.010%	$712K	$120K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.134	−0.008%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.118	−0.128%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0024%	1h	13.138	+0.025%	$348K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.596%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0047%	8h	13.121	−0.107%	$134K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0059%	8h	13.098	−0.281%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.144	+0.072%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.137	+0.018%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.137	+0.015%	$399K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.149	+0.107%	$77.7M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.141	+0.049%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.141	+0.046%	$275K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.132	−0.026%	$121.4M	$300.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.135	0.000%	$84.6M	$69.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.138	+0.023%	$27.7M	$84.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.149	+0.107%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.140	+0.038%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDTlong	+0.0100%	8h	13.135	long leg	$36.3M	$56.3M	300x
KuCoin LINKUSDTM	+0.0100%	8h	13.138	+0.023%	$22.0M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.135	0.000%	$54.3M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.135	0.000%	—	$21.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.141	+0.046%	$364K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.116	−0.142%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.106	−0.222%	$592K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.121	−0.107%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.139	+0.030%	$80K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.127	−0.063%	$16K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.137	+0.017%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.130	−0.038%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.103	−0.247%	$644K	$911K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.135	0.000%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.132	−0.023%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.122	−0.099%	$988K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.125	−0.076%	$5.2M	$16.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0373%	1h	13.136	+0.004%	$5K	—	20x	as long as short
Phemex LINKUSDTshort	+0.0480%	8h	13.143	+0.061%	$20.3M	$11.5M	50x
Kraken Futures PF_LINKUSD	+0.0504%	1h	13.140	+0.037%	$6.9M	$7.8M	50x	as long as short