Funding you earn now, next payment 05:00 UTC−0.1071%/8h= −117.2% APRnext payment −$1.34 per $10,000 · paid last 24h −0.068%
Price spread now: Phoenix against dYdX+0.067%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.505%−$50 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Phoenix is 0.067% dearer against dYdX than usual: you sell high and buy low (spread +0.067% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$32 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.505% in total) that is about 22 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.505% in total (about -26.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.34 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 | dYdX LINK-USD | 12.908 | 0.1145 | pay 0.0143% / 1h | 55m 10s | $344K | $33K | 10x |
| Short | Phoenix LINK | 12.916 | 0.0074 | get 0.0009% / 1h | 55m 10s | $3K | $85K | 10x |
dYdX LINK-USD
Phoenix LINKFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against dYdX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$224.83
- Price spread: +0.067% → 0.000%
- $6.72
- Slippage, 4 orders
- no order book: not counted
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$235.11
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: dYdX: live order book, 54 min ago; 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 dYdX live order book, 54 min ago | 36.55 bp | 41.6 bp −$42 | 76.2 bp −$762 | 80.6 bp −$8,060 | 125.3 bp −$62.7K |
| Sell Phoenix no order-book sample | — | — | — | — | — |
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 −0.0089% / S +0.0166% | 1h | 12.902 | −0.045% | $1.8M | — | 200x | as long as short |
| Kalshi KXLINKPERP | 0.0000% | 8h | 12.914 | +0.047% | $513K | $2.3M | 3.7x | as long as short |
| gTrade (Gains Network) LINK/USD | L +0.0004% / S −0.0005% | 1h | 12.904 | −0.027% | $156K | — | 150x | as long as short |
| Orderly PERP_LINK_USDC | +0.0015% | 8h | 12.898 | −0.076% | $94K | $1.2M | 20x | as long as short |
| Injective LINK/USDC PERP | +0.0033% | 1h | 12.400 | −3.934% | $4K | $48K | 12x | as long as short |
| Phoenix LINKshort | +0.0074% | 1h | 12.916 | +0.067% | $3K | $85K | 10x | |
| Lighter LINK | +0.0096% | 1h | 12.903 | −0.034% | $1.9M | $2.8M | 10x | as long as short |
| Paradex LINK-USD-PERP | +0.0100% | 8h | 12.907 | −0.005% | $31K | $2K | 20x | as long as short |
| Nado LINK-PERP | +0.0100% | 1h | 12.906 | −0.010% | $348K | $337K | 10x | as long as short |
| Aster LINKUSDT | +0.0100% | 8h | 12.906 | −0.014% | $1.2M | $2.4M | 50x | as long as short |
GMX LINK/USD [LINK-USDC]
Kalshi KXLINKPERP
gTrade (Gains Network) LINK/USD
Orderly PERP_LINK_USDC
Injective LINK/USDC PERP
Lighter LINK
Paradex LINK-USD-PERP
Nado LINK-PERP
Aster LINKUSDTShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica LINK | +0.0100% | 1h | 12.909 | +0.012% | $275K | $183K | 10x | as long as short |
| Binance LINKUSDT | +0.0100% | 8h | 12.906 | −0.014% | $119.0M | $301.7M | 75x | as long as short |
| Bybit LINKUSDT | +0.0100% | 8h | 12.900 | −0.061% | $83.3M | $73.5M | 75x | as long as short |
| OKX LINK-USDT-SWAP | +0.0100% | 8h | 12.903 | −0.037% | $27.0M | $81.1M | 50x | as long as short |
| Arcus LINK-USD | +0.0100% | 1h | 12.923 | +0.118% | $180K | $94K | 10x | as long as short |
| Gate LINK_USDT | +0.0100% | 8h | 12.900 | −0.061% | $124.1M | $15.1M | 75x | as long as short |
| MEXC LINK_USDT | +0.0100% | 8h | 12.905 | −0.022% | $33.1M | $57.5M | 300x | as long as short |
| KuCoin LINKUSDTM | +0.0100% | 8h | 12.907 | −0.006% | $22.8M | $12.9M | 75x | as long as short |
| Bitget LINKUSDT | +0.0100% | 8h | 12.904 | −0.030% | $53.9M | $30.4M | 75x | as long as short |
| BingX LINK-USDT | +0.0100% | 8h | 12.903 | −0.037% | — | $23.3M | — | as long as short |
| Variational Omni LINK | +0.0100% | 8h | 12.901 | −0.051% | $3.3M | $1.7M | — | as long as short |
| edgeX LINKUSDC | +0.0100% | 4h | 12.938 | +0.237% | $43K | $305K | 20x | as long as short |
| GRVT LINK_USDT_Perp | +0.0100% | 8h | 12.911 | +0.023% | $586K | $2.9M | 10x | as long as short |
| ApeX Omni LINKUSDT | +0.0100% | 1h | 12.924 | +0.125% | $132K | $673K | 50x | as long as short |
| Polymarket Perps LINK-USD | +0.0100% | 1h | 12.908 | +0.001% | $81K | $70K | 10x | as long as short |
| Derive LINK-PERP | +0.0100% | 1h | 12.901 | −0.051% | $16K | $22K | 10x | as long as short |
| SunX LINK-USDT | +0.0100% | 8h | 12.915 | +0.056% | $33K | $1.4M | 30x | as long as short |
| SoDEX LINK-USD | +0.0100% | 1h | 12.903 | −0.037% | $10K | $61K | 10x | as long as short |
| HTX LINK-USDT | +0.0100% | 8h | 12.893 | −0.113% | $632K | $786K | 75x | as long as short |
| Extended LINK-USD | +0.0104% | 1h | 12.897 | −0.082% | $628K | $2.0M | 25x | as long as short |
| Aevo LINK-PERP | +0.0104% | 1h | 12.904 | −0.030% | $541K | $2K | 3x | as long as short |
| Coinbase International LINK-PERP-INTX | +0.0120% | 1h | 12.914 | +0.048% | $933K | $2.8M | 50x | as long as short |
| Backpack LINK_USDC_PERP | +0.0150% | 1h | 12.916 | +0.063% | $337K | $389K | 15x | as long as short |
| Kraken Futures PF_LINKUSD | +0.0193% | 1h | 12.905 | −0.019% | $6.6M | $8.3M | 50x | as long as short |
| BloFin LINK-USDT | +0.0220% | 8h | 12.905 | −0.022% | $5.2M | $15.8M | 75x | as long as short |
| Deribit LINK_USDC-PERPETUAL | +0.0223% | 1h | 12.909 | +0.012% | $805K | $254K | 50x | as long as short |
| Hyperliquid LINK | +0.0280% | 1h | 12.920 | +0.091% | $80.5M | $27.7M | 10x | as long as short |
| Reya LINKRUSDPERP | +0.0397% | 1h | 12.901 | −0.052% | $4K | — | 20x | as long as short |
| Phemex LINKUSDT | +0.0574% | 8h | 12.919 | +0.087% | $19.9M | $11.3M | 50x | as long as short |
| dYdX LINK-USDlong | +0.1145% | 1h | 12.908 | long leg | $344K | $33K | 10x |
Pacifica LINK
Binance LINKUSDT
Bybit LINKUSDT
OKX LINK-USDT-SWAP
Arcus LINK-USD
Gate LINK_USDT
MEXC LINK_USDT
KuCoin LINKUSDTM
Bitget LINKUSDT
BingX LINK-USDT
Variational Omni LINK
edgeX LINKUSDC
GRVT LINK_USDT_Perp
ApeX Omni LINKUSDT
Polymarket Perps LINK-USD
Derive LINK-PERP
SunX LINK-USDT
SoDEX LINK-USD
HTX LINK-USDT
Extended LINK-USD
Aevo LINK-PERP
Coinbase International LINK-PERP-INTX
Backpack LINK_USDC_PERP
Kraken Futures PF_LINKUSD
BloFin LINK-USDT
Deribit LINK_USDC-PERPETUAL
Hyperliquid LINK
Reya LINKRUSDPERP
Phemex LINKUSDT