LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0377%/8h= +41.2% APRnext payment +$3.77 per $10,000 · paid last 24h +0.072%

Price spread now: Phemex against OKX+0.069%7-day average +0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$350.353% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.277%+$28 on $10k

Price spread, last 3 days (all we have)+0.110%+$11 · spread now +0.069%, 7d avg +0.112%

Together, before fees+0.387%+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.044% cheaper against OKX than usual: you would sell low and buy high (spread +0.069% now, against its 7-day average of +0.112%). If the spread goes back, that is −$4 on $10k: about 9 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.277% in total) that is about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LINK-USDT-SWAP	13.138	0.0100	pay 0.0100% / 8h	2h 02m	$27.7M	$85.7M	50x
Short	Phemex LINKUSDT	13.147	0.0477	get 0.0477% / 8h	2h 02m	$20.3M	$11.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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 OKXbpFee PhemexbpOrdersPrice spread, now +0.069%Rate

Funding earned: $79.08
Price spread: +0.069% → +0.112%: −$4.38
Slippage, 4 orders: −$13.3
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $39.39
Costs to cover: 0.353%
Break-even: 3.5 days

Slippage from OKX: live order book, 2 min ago; Phemex: live order book, 2 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 OKX live order book, 2 min ago	0.38 bp	8.5 bp −$9	13.4 bp −$134	28.6 bp −$2,858	doesn't fit
Sell Phemex live order book, 2 min ago	1.52 bp	9.2 bp −$9	13.9 bp −$139	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	13.138	+0.004%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.144	+0.043%	$469K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.139	+0.008%	$717K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.138	−0.003%	$133K	—	150x	as long as short
dYdX LINK-USD	+0.0012%	1h	13.138	+0.003%	$348K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.136	−0.013%	$3K	$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	+0.0041%	8h	13.135	−0.023%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.134	−0.030%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.137	−0.004%	$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	13.138	0.000%	$399K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.149	+0.084%	$77.5M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.139	+0.009%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.139	+0.006%	$275K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.140	+0.015%	$121.7M	$302.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.136	−0.015%	$84.6M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAPlong	+0.0100%	8h	13.138	long leg	$27.7M	$85.7M	50x
Arcus LINK-USD	+0.0100%	1h	13.151	+0.099%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.137	−0.008%	$130.4M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.139	+0.008%	$36.6M	$57.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.142	+0.030%	$22.2M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.135	−0.023%	$54.4M	$30.4M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.137	−0.008%	—	$21.8M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.121	−0.130%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.120	−0.134%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.112	−0.200%	$588K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.126	−0.091%	$153K	$665K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.140	+0.015%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.133	−0.036%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.155	+0.129%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.127	−0.084%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.100	−0.292%	$644K	$907K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.128	−0.079%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.133	−0.040%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.126	−0.091%	$988K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0112%	1h	13.149	+0.084%	$366K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.130	−0.061%	$5.2M	$16.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.138	−0.001%	$5K	—	20x	as long as short
Phemex LINKUSDTshort	+0.0477%	8h	13.147	+0.069%	$20.3M	$11.5M	50x
Kraken Futures PF_LINKUSD	+0.0505%	1h	13.135	−0.026%	$6.9M	$8.0M	50x	as long as short