LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0455%/8h= −49.8% APRnext payment −$4.55 per $10,000 · paid last 24h −0.076%

Price spread now: BingX against Phemex−0.155%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$400.405% of the position

Long on Phemex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.257%−$26 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and BingX is 0.155% cheaper against Phemex than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.257% in total (about -13.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.55 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	Phemex LINKUSDT	12.909	0.0555	pay 0.0555% / 8h	53m 10s	$19.9M	$11.3M	50x
Short	BingX LINK-USDC	12.889	0.0100	get 0.0100% / 8h	53m 10s	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Phemex. 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 PhemexbpFee BingXbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$95.49
Price spread: −0.155% → 0.000%: −$15.49
Slippage, 4 orders: −$18.5
Fee Phemex: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$151.49
Costs to cover: 0.405%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; BingX: live order book, 14 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 Phemex live order book, 6 min ago	0.39 bp	8.9 bp −$9	13.6 bp −$136	doesn't fit	doesn't fit
Sell BingX live order book, 14 min ago	0.77 bp	11.0 bp −$11	19.7 bp −$197	80.0 bp −$8,003	409.2 bp −$204.6K

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 −0.0087% / S +0.0165%	1h	12.892	−0.130%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0053%	8h	12.886	−0.178%	$91K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.903	−0.050%	$513K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	12.899	−0.081%	$806K	$268K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.892	−0.129%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.943%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.902	−0.055%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.895	−0.109%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.899	−0.077%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.897	−0.093%	$354K	$339K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.904	−0.039%	$80.8M	$28.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.900	−0.071%	$1.3M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.899	−0.074%	$274K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.895	−0.108%	$119.1M	$299.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.891	−0.139%	$83.3M	$73.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.894	−0.116%	$27.0M	$79.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.912	+0.023%	$180K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.895	−0.108%	$133.5M	$17.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.895	−0.108%	$33.6M	$57.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.899	−0.077%	$22.8M	$12.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.895	−0.108%	$53.9M	$30.2M	75x	as long as short
BingX LINK-USDCshort	+0.0100%	8h	12.889	−0.155%	—	$6.6M	—
Backpack LINK_USDC_PERP	+0.0100%	1h	12.911	+0.015%	$335K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.873	−0.278%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.900	−0.071%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.896	−0.101%	$581K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.900	−0.070%	$132K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.900	−0.070%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.901	−0.061%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.911	+0.015%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.892	−0.132%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.896	−0.105%	$630K	$778K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.896	−0.100%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.885	−0.185%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.893	−0.125%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.903	−0.046%	$929K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.898	−0.085%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0399%	1h	12.888	−0.164%	$4K	—	20x	as long as short
Phemex LINKUSDTlong	+0.0555%	8h	12.909	long leg	$19.9M	$11.3M	50x
dYdX LINK-USD	+0.0575%	1h	12.902	−0.056%	$344K	$45K	10x	as long as short