LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0063%/8h= −6.9% APRnext payment −$0.08 per $10,000 · paid last 24h −0.041%

Price spread now: Phoenix against Polymarket Perps−0.098%7-day average — · you buy dearer than you sell

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

Long on Polymarket Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.133%+$13 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.098% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.133%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps LINK-USD	13.216	0.0100	pay 0.0013% / 1h	59m 02s	$82K	$69K	10x
Short	Phoenix LINK	13.203	0.0037	get 0.0005% / 1h	59m 02s	$4K	$81K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Polymarket Perps. 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 Polymarket PerpsbpFee PhoenixbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$13.32
Price spread: −0.098% → 0.000%: −$9.76
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$38.08
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: no order-book sample; Phoenix: 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 Polymarket Perps no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

Polymarket Perps and 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 −0.0090% / S +0.0167%	1h	13.217	+0.010%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.221	+0.038%	$488K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.223	+0.049%	$725K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.217	+0.005%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.174%	$4K	$48K	12x	as long as short
Phoenix LINKshort	+0.0037%	1h	13.203	−0.098%	$4K	$81K	10x
Orderly PERP_LINK_USDC	+0.0041%	8h	13.216	0.000%	$134K	$1.5M	20x	as long as short
dYdX LINK-USD	+0.0055%	1h	13.214	−0.018%	$350K	$48K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.218	+0.016%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.209	−0.053%	$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	13.207	−0.064%	$404K	$313K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.224	+0.057%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.214	−0.016%	$277K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.223	+0.050%	$123.0M	$303.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.218	+0.015%	$85.4M	$70.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.222	+0.045%	$27.9M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.226	+0.076%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.218	+0.015%	$131.0M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.220	+0.030%	$37.0M	$56.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.220	+0.030%	$22.7M	$15.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.217	+0.008%	$55.1M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.223	+0.053%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.194	−0.169%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.204	−0.087%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.203	−0.099%	$596K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.207	−0.068%	$154K	$668K	50x	as long as short
Polymarket Perps LINK-USDlong	+0.0100%	1h	13.216	long leg	$82K	$69K	10x
Derive LINK-PERP	+0.0100%	1h	13.213	−0.026%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.225	+0.071%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.220	+0.030%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.199	−0.126%	$649K	$891K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.214	−0.016%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.220	+0.026%	$554K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.222	+0.045%	$999K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.216	0.000%	$5.3M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0269%	1h	13.231	+0.113%	$365K	$380K	15x	as long as short
Hyperliquid LINK	+0.0282%	1h	13.235	+0.144%	$78.2M	$24.1M	10x	as long as short
Reya LINKRUSDPERP	+0.0377%	1h	13.210	−0.044%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0462%	8h	13.233	+0.129%	$20.5M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0475%	1h	13.229	+0.098%	$7.0M	$8.2M	50x	as long as short