LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0358%/8h= −39.2% APRnext payment −$3.58 per $10,000 · paid last 24h −0.074%

Price spread now: Gate against Phemex−0.098%7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$460.456% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.299%−$30 on $10k

Price spread, last 3 days (all we have)−0.067%−$7 · spread now −0.098%, 7d avg −0.105%

Together, before fees−0.366%−$37 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.105%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LINKUSDT	13.199	0.0458	pay 0.0458% / 8h	2h 15m	$20.4M	$11.5M	50x
Short	Gate LINK_USDT	13.186	0.0100	get 0.0100% / 8h	2h 15m	$130.9M	$12.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.098%Rate

Funding earned: −$75.15
Price spread: −0.098% → −0.105%: $0.64
Slippage, 4 orders: −$18.63
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$120.13
Costs to cover: 0.456%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Gate: 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	2.65 bp	9.8 bp −$10	16.4 bp −$164	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	0.38 bp	15.6 bp −$16	20.3 bp −$203	35.3 bp −$3,532	77.6 bp −$38.8K

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 −0.0092% / S +0.0167%	1h	13.185	−0.105%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.191	−0.063%	$493K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.188	−0.080%	$717K	$122K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.186	−0.095%	$134K	—	150x	as long as short
dYdX LINK-USD	+0.0016%	1h	13.187	−0.092%	$349K	$60K	10x	as long as short
Phoenix LINK	+0.0018%	1h	13.185	−0.108%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.053%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0042%	8h	13.183	−0.121%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.190	−0.071%	$2.1M	$2.4M	10x	as long as short
Variational Omni LINK	+0.0097%	8h	13.185	−0.107%	$3.3M	$1.5M	—	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	13.184	−0.110%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.184	−0.112%	$401K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.200	+0.008%	$78.0M	$23.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.189	−0.079%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.187	−0.091%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.179	−0.152%	$122.4M	$301.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.177	−0.167%	$84.9M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.179	−0.152%	$27.9M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.198	−0.008%	$185K	$172K	10x	as long as short
Gate LINK_USDTshort	+0.0100%	8h	13.186	−0.098%	$130.9M	$12.8M	75x
MEXC LINK_USDT	+0.0100%	8h	13.184	−0.114%	$37.4M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.188	−0.083%	$22.0M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.185	−0.106%	$54.6M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.186	−0.098%	—	$6.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.188	−0.081%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.187	−0.091%	$595K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.197	−0.015%	$154K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.184	−0.114%	$81K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.182	−0.130%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.196	−0.026%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.183	−0.121%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.172	−0.203%	$648K	$907K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.182	−0.129%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.187	−0.089%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.200	+0.008%	$993K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.196	−0.023%	$366K	$372K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.179	−0.152%	$5.3M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0374%	1h	13.179	−0.148%	$5K	—	20x	as long as short
Phemex LINKUSDTlong	+0.0458%	8h	13.199	long leg	$20.4M	$11.5M	50x
Kraken Futures PF_LINKUSD	+0.0502%	1h	13.192	−0.055%	$7.0M	$7.9M	50x	as long as short