LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0508%/8h= +55.6% APRnext payment +$5.08 per $10,000 · paid last 24h +0.086%

Price spread now: Phemex against Gate+0.223%7-day average +0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$540.541% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.322%+$32 on $10k

Price spread, last 3 days (all we have)−0.110%−$11 · spread now +0.223%, 7d avg +0.108%

Together, before fees+0.212%+$21 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 0.116% dearer against Gate than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.108%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.322% in total (about 16.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.08 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	Gate LINK_USDT	12.990	0.0100	pay 0.0100% / 8h	6h 20m	$128.1M	$12.8M	75x
Short	Phemex LINKUSDT	13.019	0.0608	get 0.0608% / 8h	6h 20m	$20.1M	$11.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Gate. 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 GatebpFee PhemexbpOrdersPrice spread, now +0.223%Rate

Funding earned: $106.58
Price spread: +0.223% → +0.108%: $11.55
Slippage, 4 orders: −$27.15
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: $63.98
Costs to cover: 0.541%
Break-even: 2.8 days

Slippage from Gate: live order book, 3 min ago; Phemex: live order book, 3 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 Gate live order book, 3 min ago	0.77 bp	19.3 bp −$19	26.9 bp −$269	35.8 bp −$3,577	78.6 bp −$39.3K
Sell Phemex live order book, 3 min ago	2.68 bp	11.3 bp −$11	15.4 bp −$154	doesn't fit	doesn't fit

LINK on 39 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	13.009	+0.150%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.024	+0.259%	$474K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.010	+0.151%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.542%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0042%	1h	13.012	+0.168%	$773K	$212K	50x	as long as short
Phoenix LINK	+0.0049%	1h	13.024	+0.262%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0068%	8h	13.003	+0.100%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.049	+0.454%	$957K	$2.7M	50x	as long as short
Lighter LINK	+0.0096%	1h	12.995	+0.038%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.993	+0.020%	$31K	$2K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.013	+0.181%	$396K	$322K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.002	+0.092%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.995	+0.037%	$275K	$170K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.993	+0.023%	$119.3M	$303.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.989	−0.008%	$83.9M	$72.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.995	+0.038%	$27.4M	$84.3M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.011	+0.162%	$182K	$166K	10x	as long as short
Gate LINK_USDTlong	+0.0100%	8h	12.990	long leg	$128.1M	$12.8M	75x
MEXC LINK_USDT	+0.0100%	8h	12.993	+0.023%	$33.0M	$59.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.997	+0.054%	$22.5M	$14.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.991	+0.008%	$54.0M	$30.9M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.993	+0.023%	—	$23.0M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.005	+0.116%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.033	+0.334%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.032	+0.323%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.038	+0.370%	$134K	$675K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.018	+0.216%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.006	+0.123%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.026	+0.277%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.005	+0.115%	$14K	$41K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.004	+0.106%	$641K	$859K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.989	−0.007%	$703K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.009	+0.146%	$546K	$2K	3x	as long as short
Backpack LINK_USDC_PERP	+0.0115%	1h	13.007	+0.131%	$338K	$386K	15x	as long as short
dYdX LINK-USD	+0.0298%	1h	12.993	+0.022%	$344K	$45K	10x	as long as short
Reya LINKRUSDPERP	+0.0384%	1h	13.010	+0.153%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0448%	1h	13.011	+0.161%	$80.4M	$26.4M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0501%	1h	13.009	+0.147%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDTshort	+0.0608%	8h	13.019	+0.223%	$20.1M	$11.5M	50x