LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0403%/8h= −44.1% APRnext payment −$4.03 per $10,000 · paid last 24h −0.085%

Price spread now: GRVT against Phemex−0.245%7-day average −0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$400.398% of the position

Long on Phemex Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.313%−$31 on $10k

Price spread, last 3 days (all we have)−0.008%−$1 · spread now −0.245%, 7d avg −0.114%

Together, before fees−0.320%+ Points / potential airdropGRVT: Active · farm board−$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and GRVT is 0.131% cheaper against Phemex than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.114%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LINKUSDT	13.108	0.0503	pay 0.0503% / 8h	2h 47m	$20.2M	$11.5M	50x
Short	GRVT LINK_USDT_Perp	13.076	0.0100	get 0.0100% / 8h	2h 47m	$588K	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.245%Rate

Funding earned: −$84.65
Price spread: −0.245% → −0.114%: −$13.14
Slippage, 4 orders: −$18.85
Fee Phemex: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$137.63
Costs to cover: 0.398%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; GRVT: live order book, 1 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	4.58 bp	14.1 bp −$14	29.1 bp −$291	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	0.76 bp	6.6 bp −$7	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 −0.0091% / S +0.0165%	1h	13.092	−0.121%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.099	−0.072%	$456K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.095	−0.101%	$702K	$111K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.095	−0.102%	$82K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.073	−0.265%	$3K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.401%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0037%	8h	13.058	−0.385%	$3.2M	$1.5M	—	as long as short
Orderly PERP_LINK_USDC	+0.0055%	8h	13.084	−0.183%	$134K	$1.6M	20x	as long as short
dYdX LINK-USD	+0.0059%	1h	13.092	−0.122%	$347K	$60K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.094	−0.108%	$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	13.090	−0.140%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.089	−0.145%	$397K	$317K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.096	−0.092%	$77.3M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.094	−0.109%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.090	−0.134%	$274K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.088	−0.151%	$121.0M	$300.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.089	−0.145%	$84.5M	$69.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.088	−0.153%	$27.6M	$84.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.103	−0.038%	$184K	$171K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.090	−0.137%	$130.5M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.086	−0.168%	$35.6M	$55.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.089	−0.145%	$21.9M	$15.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.088	−0.153%	$54.1M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.090	−0.137%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.101	−0.053%	$363K	$369K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.075	−0.250%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perpshort	+0.0100%	8h	13.076	−0.245%	$588K	$2.8M	10x
ApeX Omni LINKUSDT	+0.0100%	1h	13.060	−0.366%	$152K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.091	−0.130%	$80K	$63K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.090	−0.138%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.106	−0.012%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.091	−0.130%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.084	−0.183%	$640K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.088	−0.153%	$664K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.093	−0.111%	$549K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.099	−0.069%	$988K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.081	−0.206%	$5.2M	$16.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.087	−0.157%	$5K	—	20x	as long as short
Phemex LINKUSDTlong	+0.0503%	8h	13.108	long leg	$20.2M	$11.5M	50x
Kraken Futures PF_LINKUSD	+0.0506%	1h	13.103	−0.036%	$7.0M	$7.7M	50x	as long as short