LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0003%/8h= −0.3% APRnext payment −$0.00 per $10,000 · paid last 24h +0.021%

Price spread now: Injective against Phoenix−5.829%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+1.185%+$118 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Injective is 5.829% cheaper against Phoenix than usual: you would sell low and buy high, −$583 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LINK	13.168	0.0036	pay 0.0005% / 1h	19m 19s	$4K	$89K	10x
Short	Injective LINK/USDC PERP	12.400	0.0033	get 0.0004% / 1h	19m 19s	$4K	$48K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phoenix. 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 PhoenixbpFee InjectivebpOrdersPrice spread, now −5.829%Rate

Funding earned: −$0.65
Price spread: −5.829% → 0.000%: −$582.87
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$590.54
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Injective: no order-book sample. Net counts fees only.

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 Phoenix no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Phoenix and Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 +0.0167%	1h	13.150	−0.133%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.154	−0.100%	$475K	$2.2M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.133	−0.260%	$780K	$211K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.148	−0.149%	$133K	—	150x	as long as short
Injective LINK/USDC PERPshort	+0.0033%	1h	12.400	−5.829%	$4K	$48K	12x
Phoenix LINKlong	+0.0036%	1h	13.168	long leg	$4K	$89K	10x
Orderly PERP_LINK_USDC	+0.0066%	8h	13.138	−0.224%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.120	−0.363%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.212	+0.335%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.146	−0.159%	$403K	$307K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.149	−0.140%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.151	−0.128%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.121	−0.355%	$121.9M	$300.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.118	−0.376%	$84.6M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.118	−0.376%	$27.5M	$83.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.164	−0.027%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.149	−0.140%	$130.3M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.153	−0.110%	$36.8M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.154	−0.103%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.129	−0.292%	$54.7M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.150	−0.133%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.157	−0.077%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.155	−0.097%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.158	−0.069%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.158	−0.072%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.154	−0.103%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.141	−0.202%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.158	−0.070%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.122	−0.346%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.100	−0.513%	$644K	$850K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.136	−0.239%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.141	−0.201%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.140	−0.209%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0181%	1h	13.167	−0.004%	$364K	$367K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.134	−0.254%	$5.2M	$15.4M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0366%	1h	13.130	−0.287%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.150	−0.136%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0419%	1h	13.146	−0.165%	$348K	$48K	10x	as long as short
Hyperliquid LINK	+0.0557%	1h	13.169	+0.011%	$81.3M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0695%	8h	13.141	−0.201%	$20.3M	$11.6M	50x	as long as short