LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0510%/8h= −55.8% APRnext payment −$5.10 per $10,000 · paid last 24h −0.076%

Price spread now: HTX against Phemex−0.219%7-day average −0.175% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$740.738% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.238%−$24 on $10k

Price spread, last 3 days (all we have)+0.072%+$7 · spread now −0.219%, 7d avg −0.175%

Together, before fees−0.166%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and HTX is 0.045% cheaper against Phemex than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.175%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.238% in total (about -12.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.10 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	13.047	0.0610	pay 0.0610% / 8h	6h 23m	$20.1M	$11.5M	50x
Short	HTX LINK-USDT	13.018	0.0100	get 0.0100% / 8h	6h 23m	$642K	$859K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.219%Rate

Funding earned: −$107.04
Price spread: −0.219% → −0.175%: −$4.46
Slippage, 4 orders: −$49.83
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$185.33
Costs to cover: 0.738%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; HTX: live order book, 45 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	1.15 bp	9.8 bp −$10	15.7 bp −$157	doesn't fit	doesn't fit
Sell HTX live order book, 45 min ago	20.97 bp	27.1 bp −$27	180.0 bp −$1,800	doesn't fit	doesn't fit

LINK on 39 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	13.031	−0.122%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.045	−0.017%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	13.032	−0.117%	$150K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.959%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0049%	1h	13.024	−0.176%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.028	−0.146%	$118K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.044	−0.023%	$957K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0095%	1h	13.038	−0.069%	$774K	$212K	50x	as long as short
Lighter LINK	+0.0096%	1h	13.039	−0.058%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.037	−0.077%	$31K	$2K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.033	−0.103%	$396K	$322K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.039	−0.064%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.041	−0.049%	$276K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.035	−0.093%	$119.7M	$303.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.030	−0.130%	$84.1M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.031	−0.123%	$27.4M	$84.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.051	+0.031%	$183K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.029	−0.138%	$128.5M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.033	−0.107%	$33.2M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.036	−0.084%	$22.6M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.033	−0.107%	$54.2M	$30.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.033	−0.107%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.044	−0.020%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.024	−0.174%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.047	0.000%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.048	+0.008%	$134K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.036	−0.084%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.031	−0.125%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.046	−0.006%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.034	−0.100%	$15K	$41K	10x	as long as short
HTX LINK-USDTshort	+0.0100%	8h	13.018	−0.219%	$642K	$859K	75x
Extended LINK-USD	+0.0104%	1h	13.028	−0.145%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.033	−0.111%	$547K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0116%	1h	13.045	−0.015%	$339K	$386K	15x	as long as short
dYdX LINK-USD	+0.0265%	1h	13.042	−0.039%	$345K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	13.031	−0.123%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0450%	1h	13.048	+0.008%	$80.6M	$26.3M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0500%	1h	13.038	−0.069%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDTlong	+0.0610%	8h	13.047	long leg	$20.1M	$11.5M	50x