LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0501%/8h= −54.9% APRnext payment −$5.01 per $10,000 · paid last 24h −0.076%

Price spread now: Bitget against Phemex−0.084%7-day average −0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.272%−$27 on $10k

Price spread, last 4 days (all we have)−0.239%−$24 · spread now −0.084%, 7d avg −0.119%

Together, before fees−0.512%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.035% dearer against Phemex than usual: you sell high and buy low (spread −0.084% now, against its 7-day average of −0.119%): +$3 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.272% in total) that is about 22 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.272% in total (about -14.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.01 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	13.025	0.0601	pay 0.0601% / 8h	5h 45m	$20.1M	$11.6M	50x
Short	Bitget LINKUSDT	13.014	0.0100	get 0.0100% / 8h	5h 45m	$54.1M	$29.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$105.31
Price spread: −0.084% → −0.119%: $3.49
Slippage, 4 orders: −$13.24
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$139.06
Costs to cover: 0.372%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Bitget: 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 Phemex live order book, 4 min ago	1.92 bp	9.0 bp −$9	15.0 bp −$150	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.38 bp	8.4 bp −$8	15.5 bp −$155	32.8 bp −$3,284	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	13.001	−0.185%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.002	−0.174%	$479K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.000	−0.194%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.798%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	12.973	−0.399%	$936K	$2.6M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0067%	8h	13.005	−0.154%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.010	−0.115%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.000	−0.193%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.001	−0.185%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.008	−0.127%	$395K	$316K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.009	−0.125%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.992	−0.256%	$274K	$168K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.015	−0.074%	$119.9M	$296.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.009	−0.123%	$84.1M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.013	−0.092%	$27.4M	$82.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.016	−0.069%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.014	−0.084%	$128.4M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.013	−0.092%	$32.0M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.017	−0.061%	$23.1M	$13.5M	75x	as long as short
Bitget LINKUSDTshort	+0.0100%	8h	13.014	−0.084%	$54.1M	$29.9M	75x
BingX LINK-USDT	+0.0100%	8h	13.011	−0.107%	—	$22.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.971	−0.413%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.974	−0.388%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.965	−0.463%	$581K	$2.6M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.990	−0.269%	$133K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.016	−0.069%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.009	−0.126%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.011	−0.108%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.012	−0.100%	$5K	$45K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.972	−0.408%	$640K	$685K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.004	−0.164%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.011	−0.104%	$546K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0106%	1h	13.024	−0.008%	$340K	$378K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.005	−0.154%	—	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0296%	1h	13.014	−0.088%	$773K	$193K	50x	as long as short
dYdX LINK-USD	+0.0376%	1h	12.993	−0.246%	$344K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0386%	1h	13.006	−0.148%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.013	−0.089%	$6.8M	$8.0M	50x	as long as short
Phemex LINKUSDTlong	+0.0601%	8h	13.025	long leg	$20.1M	$11.6M	50x
Hyperliquid LINK	+0.0737%	1h	13.035	+0.077%	$81.9M	$26.6M	10x	as long as short