LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0064%/8h= +7.0% APRnext payment +$0.08 per $10,000 · paid last 24h +0.041%

Price spread now: Nado against Phoenix−0.421%57s7-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 Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding pays, the price is against you. Nado is 0.421% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.421% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$42 on $10k: about 22 days of funding at the current rate (+$2 a day). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

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	17m 40s	$4K	$89K	10x
Short	Nado LINK-PERP	13.112	0.0100	get 0.0012% / 1h	17m 40s	$402K	$307K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.421%Rate

Funding earned: $13.35
Price spread: −0.421% → 0.000%: −$42.15
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$42.8
Costs to cover: 0.140%
Break-even: 29.4 days

Slippage unknown: Phoenix: no order-book sample; Nado: live order book, 55 min ago. 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 Nado live order book, 55 min ago	0.38 bp	7.5 bp −$8	17.3 bp −$173	doesn't fit	doesn't fit

Phoenix: 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	13.131	−0.276%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.130	−0.287%	$469K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.134	−0.257%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.829%	$4K	$48K	12x	as long as short
Phoenix LINKlong	+0.0036%	1h	13.168	long leg	$4K	$89K	10x
Orderly PERP_LINK_USDC	+0.0066%	8h	13.139	−0.216%	$133K	$1.5M	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0070%	1h	13.145	−0.168%	$780K	$211K	50x	as long as short
Lighter LINK	+0.0096%	1h	13.143	−0.187%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.184	+0.127%	$32K	$2K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	13.112	−0.421%	$402K	$307K	10x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.147	−0.155%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.144	−0.181%	$275K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.142	−0.191%	$122.0M	$300.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.138	−0.224%	$84.7M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.141	−0.201%	$27.5M	$84.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.158	−0.072%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.147	−0.156%	$130.2M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.143	−0.186%	$36.7M	$58.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.145	−0.171%	$23.0M	$14.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.141	−0.201%	$54.5M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.143	−0.186%	—	$20.9M	—	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	13.123	−0.338%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.139	−0.220%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.123	−0.336%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.141	−0.201%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.107	−0.457%	$645K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.139	−0.215%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.143	−0.185%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.114	−0.406%	$999K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0176%	1h	13.159	−0.065%	$364K	$364K	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	+0.0365%	1h	13.159	−0.067%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.117	−0.387%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0454%	1h	13.141	−0.203%	$348K	$48K	10x	as long as short
Hyperliquid LINK	+0.0553%	1h	13.167	−0.006%	$81.3M	$25.0M	10x	as long as short
Phemex LINKUSDT	+0.0728%	8h	13.161	−0.049%	$20.4M	$11.6M	50x	as long as short