LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0355%/8h= −38.8% APRnext payment −$0.44 per $10,000 · paid last 24h −0.113%

Price spread now: Phoenix against Reya−0.330%59s7-day average — · you buy dearer than you sell

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

Long on Reya Short on Phoenix

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

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Phoenix is 0.330% cheaper against Reya than usual: you would sell low and buy high (−$33 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 59 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	Reya LINKRUSDPERP	13.115	0.0373	pay 0.0047% / 1h	34m 22s	$5K	—	20x
Short	Phoenix LINK	13.072	0.0018	get 0.0002% / 1h	34m 22s	$3K	$84K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Reya. 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 ReyabpFee PhoenixbpOrdersPrice spread, now −0.330%Rate

Funding earned: −$74.46
Price spread: −0.330% → 0.000%: −$32.99
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$120.45
Costs to cover: 0.130%
Break-even: never at this rate

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

Reya 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 −0.0091% / S +0.0165%	1h	13.114	−0.007%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.120	+0.041%	$466K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.114	−0.011%	$711K	$119K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.115	−0.001%	$83K	—	150x	as long as short
Phoenix LINKshort	+0.0018%	1h	13.072	−0.330%	$3K	$84K	10x
dYdX LINK-USD	+0.0028%	1h	13.122	+0.055%	$348K	$60K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.452%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0048%	8h	13.106	−0.069%	$134K	$1.6M	20x	as long as short
Variational Omni LINK	+0.0059%	8h	13.098	−0.130%	$3.3M	$1.5M	—	as long as short
Lighter LINK	+0.0096%	1h	13.116	+0.003%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.121	+0.042%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.118	+0.026%	$398K	$318K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.127	+0.091%	$77.6M	$23.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.127	+0.091%	$1.6M	$2.7M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.123	+0.061%	$275K	$152K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.115	+0.002%	$121.2M	$299.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.111	−0.031%	$84.5M	$69.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.112	−0.023%	$27.6M	$84.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.133	+0.137%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.118	+0.022%	$130.6M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.117	+0.015%	$35.9M	$56.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.120	+0.038%	$22.0M	$15.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.110	−0.039%	$54.2M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.117	+0.015%	—	$21.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.124	+0.068%	$362K	$369K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.077	−0.293%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.112	−0.023%	$592K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.110	−0.039%	$153K	$664K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.122	+0.053%	$80K	$65K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.109	−0.050%	$16K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.123	+0.063%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.112	−0.023%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.107	−0.062%	$644K	$911K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.108	−0.053%	$664K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.115	−0.001%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.113	−0.016%	$988K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.103	−0.092%	$5.2M	$16.8M	75x	as long as short
Reya LINKRUSDPERPlong	+0.0373%	1h	13.115	long leg	$5K	—	20x
Phemex LINKUSDT	+0.0489%	8h	13.126	+0.083%	$20.3M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0505%	1h	13.120	+0.035%	$7.0M	$7.8M	50x	as long as short