LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC+0.0287%/8h= +31.5% APRnext payment +$2.87 per $10,000 · paid last 24h +0.118%

Price spread now: Phemex against Bybit+0.124%7-day average +0.120% · you sell dearer than you buy

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.361%+$36 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now +0.124%, 7d avg +0.120%

Together, before fees+0.401%+$40 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.120%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit LINKUSDT	12.897	0.0100	pay 0.0100% / 8h	5h 08m	$83.9M	$66.6M	75x
Short	Phemex LINKUSDT	12.913	0.0387	get 0.0387% / 8h	5h 08m	$20.0M	$10.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.124%Rate

Funding earned: $60.37
Price spread: +0.124% → +0.120%: $0.42
Slippage, 4 orders: −$9.04
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: $28.76
Costs to cover: 0.320%
Break-even: 3.7 days

Slippage from Bybit: 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 Bybit live order book, 4 min ago	0.39 bp	7.4 bp −$7	12.7 bp −$127	36.0 bp −$3,600	doesn't fit
Sell Phemex live order book, 4 min ago	0.39 bp	8.0 bp −$8	14.1 bp −$141	doesn't fit	doesn't fit

LINK on 39 exchanges

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
Orderly PERP_LINK_USDC	−0.0240%	8h	12.893	−0.031%	$84K	$842K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.886	−0.084%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.902	+0.040%	$479K	$2.0M	3.7x	as long as short
Phoenix LINK	0.0000%	1h	12.891	−0.043%	$3K	$81K	10x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.899	+0.016%	$114K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.854%	$4K	$48K	12x	as long as short
Variational Omni LINK	+0.0075%	8h	12.874	−0.177%	$3.4M	$1.7M	—	as long as short
Lighter LINK	+0.0096%	1h	12.902	+0.035%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	12.897	0.000%	$31K	$600	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.895	−0.016%	$345K	$274K	10x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.907	+0.078%	$81.2M	$25.5M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.905	+0.065%	$1.2M	$2.8M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.899	+0.018%	$274K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.904	+0.054%	$120.0M	$265.2M	75x	as long as short
Bybit LINKUSDTlong	+0.0100%	8h	12.897	long leg	$83.9M	$66.6M	75x
OKX LINK-USDT-SWAP	+0.0100%	8h	12.902	+0.039%	$27.4M	$72.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.910	+0.101%	$180K	$84K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.900	+0.023%	$133.1M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.903	+0.047%	$36.0M	$56.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.904	+0.054%	$23.0M	$11.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.899	+0.016%	$54.0M	$25.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.899	+0.016%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.907	+0.078%	$325K	$352K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.884	−0.103%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.885	−0.093%	$585K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.888	−0.070%	$104K	$686K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.898	+0.008%	$82K	$65K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.916	+0.150%	$34K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.902	+0.039%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.871	−0.200%	$604K	$674K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.896	−0.005%	$625K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.900	+0.027%	$541K	$2K	3x	as long as short
Kraken Futures PF_LINKUSD	+0.0174%	1h	12.905	+0.062%	$6.6M	$7.5M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0200%	1h	12.890	−0.054%	$988K	$3.1M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.888	−0.070%	$5.4M	$15.0M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0378%	1h	12.909	+0.096%	$890K	$361K	50x	as long as short
Phemex LINKUSDTshort	+0.0387%	8h	12.913	+0.124%	$20.0M	$10.2M	50x
Reya LINKRUSDPERP	+0.0410%	1h	12.895	−0.014%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0489%	1h	12.899	+0.018%	$347K	$28K	10x	as long as short