LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0510%/8h= −55.8% APRnext payment −$5.09 per $10,000 · paid last 24h −0.084%

Price spread now: OKX against Phemex−0.124%7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.304%−$30 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now −0.124%, 7d avg −0.113%

Together, before fees−0.358%−$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.113%, so right now this pair is about funding alone: −$15 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.304% in total (about -15.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.09 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	12.890	0.0609	pay 0.0609% / 8h	4h 47m	$19.9M	$11.4M	50x
Short	OKX LINK-USDT-SWAP	12.874	0.0100	get 0.0100% / 8h	4h 47m	$27.2M	$81.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.124%Rate

Funding earned: −$107
Price spread: −0.124% → −0.113%: −$1.07
Slippage, 4 orders: −$13.04
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$143.1
Costs to cover: 0.350%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; OKX: 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	1.16 bp	9.1 bp −$9	14.2 bp −$142	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.39 bp	6.8 bp −$7	15.8 bp −$158	33.9 bp −$3,393	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	12.880	−0.079%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.890	+0.003%	$489K	$2.2M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	12.881	−0.067%	$769K	$189K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.881	−0.072%	$158K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.801%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0060%	8h	12.875	−0.116%	$116K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.872	−0.136%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.878	−0.093%	$938K	$2.7M	50x	as long as short
Phoenix LINK	+0.0099%	1h	12.925	+0.272%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.879	−0.087%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.870	−0.155%	$389K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.877	−0.098%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.880	−0.077%	$273K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.881	−0.068%	$119.1M	$297.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.874	−0.124%	$83.1M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAPshort	+0.0100%	8h	12.874	−0.124%	$27.2M	$81.2M	50x
Arcus LINK-USD	+0.0100%	1h	12.907	+0.132%	$181K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.877	−0.101%	$127.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.879	−0.085%	$31.9M	$56.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.877	−0.101%	$22.7M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.880	−0.078%	$53.5M	$29.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.882	−0.062%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.882	−0.062%	$337K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.903	+0.103%	$3.4M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.887	−0.022%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.885	−0.038%	$580K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.890	0.000%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.889	−0.008%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.877	−0.098%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.896	+0.048%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.873	−0.132%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.871	−0.146%	$630K	$703K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.880	−0.077%	$629K	$2.1M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.886	−0.034%	$540K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.886	−0.031%	$5.2M	$15.6M	75x	as long as short
Hyperliquid LINK	+0.0363%	1h	12.887	−0.023%	$80.7M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0389%	1h	12.880	−0.078%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0397%	1h	12.874	−0.122%	$6.7M	$8.1M	50x	as long as short
Phemex LINKUSDTlong	+0.0609%	8h	12.890	long leg	$19.9M	$11.4M	50x
dYdX LINK-USD	+0.0743%	1h	12.875	−0.120%	$341K	$30K	10x	as long as short