LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0364%/8h= −39.9% APRnext payment −$3.64 per $10,000 · paid last 24h −0.065%

Price spread now: SunX against Phemex+0.011%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$610.613% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.199%−$20 on $10k

Price spread, last 3 days (all we have)−0.069%−$7 · spread now +0.011%, 7d avg +0.003%

Together, before fees−0.269%−$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$11 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 -0.199% in total (about -10.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.64 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	13.174	0.0464	pay 0.0464% / 8h	1h 36m	$20.4M	$11.5M	50x
Short	SunX LINK-USDT	13.175	0.0100	get 0.0100% / 8h	1h 36m	$34K	$1.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$76.43
Price spread: +0.011% → +0.003%: $0.86
Slippage, 4 orders: −$41.26
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$136.82
Costs to cover: 0.613%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; SunX: live order book, 8 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, 2 min ago	2.27 bp	10.9 bp −$11	16.1 bp −$161	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	13.65 bp	19.2 bp −$19	doesn't fit	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 −0.0090% / S +0.0167%	1h	13.161	−0.099%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.150	−0.185%	$348K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.167	−0.051%	$462K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.162	−0.093%	$719K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.161	−0.100%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.875%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.208	+0.261%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.157	−0.129%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.156	−0.137%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.142	−0.241%	$32K	$3K	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	13.160	−0.102%	$400K	$312K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.167	−0.053%	$77.7M	$23.8M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.149	−0.193%	$1.5M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.147	−0.205%	$275K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.141	−0.254%	$121.9M	$302.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.144	−0.228%	$84.7M	$69.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.145	−0.220%	$27.6M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.163	−0.083%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.147	−0.205%	$130.6M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.144	−0.228%	$36.4M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.160	−0.106%	$22.2M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.140	−0.258%	$54.7M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.144	−0.228%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.205	+0.235%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.183	+0.070%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.179	+0.035%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.182	+0.061%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.159	−0.114%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.156	−0.133%	$16K	$22K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	13.175	+0.011%	$34K	$1.6M	30x
SoDEX LINK-USD	+0.0100%	1h	13.159	−0.114%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.149	−0.186%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.142	−0.241%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.161	−0.096%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.183	+0.068%	$995K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0179%	1h	13.172	−0.015%	$365K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.152	−0.167%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.154	−0.153%	$5K	—	20x	as long as short
Phemex LINKUSDTlong	+0.0464%	8h	13.174	long leg	$20.4M	$11.5M	50x
Kraken Futures PF_LINKUSD	+0.0694%	1h	13.167	−0.051%	$6.9M	$8.0M	50x	as long as short