LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0380%/8h= −41.6% APRnext payment −$3.80 per $10,000 · paid last 24h −0.070%

Price spread now: MEXC against Phemex−0.046%7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on Phemex Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.265%−$27 on $10k

Price spread, last 3 days (all we have)−0.120%−$12 · spread now −0.046%, 7d avg −0.095%

Together, before fees−0.386%−$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.049% dearer against Phemex than usual: you sell high and buy low (spread −0.046% now, against its 7-day average of −0.095%): +$5 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.265% in total) that is about 31 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.265% in total (about -13.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.80 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	13.143	0.0480	pay 0.0480% / 8h	2h 30m	$20.3M	$11.5M	50x
Short	MEXC LINK_USDT	13.137	0.0100	get 0.0100% / 8h	2h 30m	$36.4M	$56.3M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$79.85
Price spread: −0.046% → −0.095%: $4.9
Slippage, 4 orders: −$9.56
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$96.51
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; MEXC: live order book, 3 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, 3 min ago	0.38 bp	8.6 bp −$9	13.7 bp −$137	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.38 bp	0.6 bp −$1	3.6 bp −$36	24.5 bp −$2,452	43.9 bp −$21.9K

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 +0.0165%	1h	13.130	−0.097%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.131	−0.094%	$466K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.134	−0.071%	$712K	$120K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.131	−0.091%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.118	−0.189%	$3K	$84K	10x	as long as short
dYdX LINK-USD	+0.0025%	1h	13.124	−0.145%	$348K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.653%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0047%	8h	13.121	−0.167%	$134K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0059%	8h	13.098	−0.342%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.144	+0.011%	$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	13.122	−0.160%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.122	−0.160%	$398K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.152	+0.068%	$77.7M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.138	−0.040%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.126	−0.126%	$275K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.138	−0.037%	$121.4M	$300.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.136	−0.053%	$84.6M	$69.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.142	−0.008%	$27.7M	$84.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.140	−0.023%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.139	−0.030%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDTshort	+0.0100%	8h	13.137	−0.046%	$36.4M	$56.3M	300x
KuCoin LINKUSDTM	+0.0100%	8h	13.136	−0.053%	$22.0M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.138	−0.038%	$54.4M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.137	−0.046%	—	$21.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.141	−0.015%	$364K	$371K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.116	−0.203%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.106	−0.283%	$592K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.121	−0.167%	$153K	$663K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.133	−0.076%	$80K	$67K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.127	−0.124%	$16K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.137	−0.044%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.130	−0.099%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.103	−0.307%	$644K	$911K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.135	−0.061%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.132	−0.084%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.122	−0.160%	$988K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.125	−0.137%	$5.2M	$16.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0373%	1h	13.129	−0.106%	$5K	—	20x	as long as short
Phemex LINKUSDTlong	+0.0480%	8h	13.143	long leg	$20.3M	$11.5M	50x
Kraken Futures PF_LINKUSD	+0.0504%	1h	13.140	−0.024%	$6.9M	$7.8M	50x	as long as short