LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0305%/8h= +33.3% APRnext payment +$0.38 per $10,000 · paid last 24h +0.113%

Price spread now: Reya against Phoenix−0.240%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 Reya

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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.240% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.240% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$24 on $10k: about 2.6 days of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LINK	12.896	0.0093	pay 0.0012% / 1h	39m 05s	$3K	$85K	10x
Short	Reya LINKRUSDPERP	12.865	0.0397	get 0.0050% / 1h	39m 05s	$4K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.240%Rate

Funding earned: $63.96
Price spread: −0.240% → 0.000%: −$24
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: $26.96
Costs to cover: 0.130%
Break-even: 4.0 days

Slippage unknown: Phoenix: no order-book sample; Reya: 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 Reya no order-book sample	—	—	—	—	—

Phoenix and Reya: 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 −0.0089% / S +0.0166%	1h	12.872	−0.185%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0001%	8h	12.861	−0.271%	$93K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.872	−0.185%	$512K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.867	−0.226%	$156K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.846%	$4K	$48K	12x	as long as short
Phoenix LINKlong	+0.0093%	1h	12.896	long leg	$3K	$85K	10x
Lighter LINK	+0.0096%	1h	12.875	−0.164%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.862	−0.260%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.861	−0.268%	$349K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.878	−0.138%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.866	−0.231%	$274K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.875	−0.161%	$118.9M	$302.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.867	−0.225%	$83.1M	$73.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.866	−0.233%	$27.0M	$80.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.883	−0.101%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.869	−0.209%	$124.1M	$15.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.870	−0.202%	$34.1M	$58.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.876	−0.155%	$22.7M	$12.9M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.867	−0.225%	$53.8M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.871	−0.194%	—	$23.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.878	−0.138%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.888	−0.062%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.884	−0.097%	$578K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.894	−0.016%	$132K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.873	−0.178%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.866	−0.229%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.883	−0.098%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.873	−0.178%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.855	−0.319%	$631K	$787K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.864	−0.249%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.873	−0.178%	$540K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0115%	1h	12.876	−0.155%	$335K	$387K	15x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.868	−0.217%	$933K	$2.8M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.880	−0.128%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.870	−0.202%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0335%	1h	12.883	−0.101%	$80.4M	$27.7M	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0356%	1h	12.877	−0.151%	$805K	$261K	50x	as long as short
Reya LINKRUSDPERPshort	+0.0397%	1h	12.865	−0.240%	$4K	—	20x
Phemex LINKUSDT	+0.0582%	8h	12.885	−0.085%	$19.9M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0843%	1h	12.866	−0.233%	$343K	$33K	10x	as long as short