LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0490%/8h= +53.7% APRnext payment +$4.90 per $10,000 · paid last 24h +0.082%

Price spread now: Phemex against Binance+0.293%7-day average +0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.294%+$29 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now +0.293%, 7d avg +0.099%

Together, before fees+0.317%+$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Phemex is 0.194% dearer against Binance than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.099%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.294% in total (about 15.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.90 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance LINKUSDT	12.981	0.0100	pay 0.0100% / 8h	5h 09m	$120.0M	$296.3M	75x
Short	Phemex LINKUSDT	13.019	0.0590	get 0.0590% / 8h	5h 09m	$20.1M	$11.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Binance. 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 BinancebpFee PhemexbpOrdersPrice spread, now +0.293%Rate

Funding earned: $102.97
Price spread: +0.293% → +0.099%: $19.42
Slippage, 4 orders: −$12.3
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $88.09
Costs to cover: 0.343%
Break-even: 1.0 days

Slippage from Binance: live order book, 4 min ago; Phemex: live order book, 4 min ago.

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 Binance live order book, 4 min ago	0.38 bp	6.6 bp −$7	12.2 bp −$122	34.6 bp −$3,460	117.2 bp −$58.6K
Sell Phemex live order book, 4 min ago	2.69 bp	11.0 bp −$11	16.6 bp −$166	doesn't fit	doesn't fit

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	13.006	+0.190%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.018	+0.281%	$482K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.008	+0.205%	$160K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.476%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0064%	8h	13.004	+0.177%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.024	+0.331%	$964K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.983	+0.017%	$1.9M	$2.8M	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0096%	1h	13.008	+0.209%	$773K	$175K	50x	as long as short
Phoenix LINK	+0.0098%	1h	13.026	+0.344%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.984	+0.022%	$31K	$2K	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	13.013	+0.247%	$394K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.998	+0.130%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.985	+0.027%	$274K	$174K	10x	as long as short
Binance LINKUSDTlong	+0.0100%	8h	12.981	long leg	$120.0M	$296.3M	75x
Bybit LINKUSDT	+0.0100%	8h	12.982	+0.008%	$83.8M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.981	0.000%	$27.4M	$82.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.002	+0.162%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.979	−0.015%	$128.3M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.983	+0.015%	$32.5M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.985	+0.031%	$22.9M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.979	−0.015%	$54.0M	$29.8M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.980	−0.008%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.006	+0.193%	$344K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.989	+0.061%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.009	+0.218%	$43K	$305K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.996	+0.114%	$587K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.017	+0.277%	$133K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.024	+0.331%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.004	+0.174%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.028	+0.363%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.005	+0.185%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.996	+0.118%	$641K	$690K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.976	−0.036%	$647K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.005	+0.181%	$545K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.010	+0.223%	$5.3M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0388%	1h	13.004	+0.181%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.008	+0.210%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDTshort	+0.0590%	8h	13.019	+0.293%	$20.1M	$11.4M	50x
dYdX LINK-USD	+0.0592%	1h	12.987	+0.045%	$344K	$30K	10x	as long as short
Hyperliquid LINK	+0.0647%	1h	13.004	+0.177%	$81.8M	$27.3M	10x	as long as short