LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0383%/8h= +41.9% APRnext payment +$3.83 per $10,000 · paid last 24h +0.065%

Price spread now: Phemex against HTX+0.225%7-day average +0.175% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$690.693% of the position

Long on HTX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 3 days (all we have)−0.048%−$5 · spread now +0.225%, 7d avg +0.175%

Together, before fees+0.153%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Phemex is 0.050% dearer against HTX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.175%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.202% in total (about 10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.83 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	HTX LINK-USDT	13.110	0.0100	pay 0.0100% / 8h	24m 27s	$645K	$884K	75x
Short	Phemex LINKUSDT	13.139	0.0483	get 0.0483% / 8h	24m 27s	$20.3M	$11.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against HTX. 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 HTXbpFee PhemexbpOrdersPrice spread, now +0.225%Rate

Funding earned: $80.37
Price spread: +0.225% → +0.175%: $5.03
Slippage, 4 orders: −$45.34
Fee HTX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: $16.06
Costs to cover: 0.693%
Break-even: 5.6 days

Slippage from HTX: live order book, 54 min ago; Phemex: live order book, 5 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 HTX live order book, 54 min ago	18.77 bp	24.9 bp −$25	41.7 bp −$417	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.14 bp	8.6 bp −$9	14.1 bp −$141	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 −0.0091% / S +0.0167%	1h	13.121	+0.091%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.128	+0.139%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.129	+0.146%	$724K	$136K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.121	+0.091%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.152	+0.324%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.412%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.121	+0.088%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.117	+0.058%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.108	−0.009%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.118	+0.065%	$400K	$311K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.119	+0.075%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.116	+0.050%	$276K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.109	−0.004%	$121.8M	$304.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.107	−0.019%	$84.4M	$71.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.111	+0.011%	$27.7M	$85.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.128	+0.141%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.110	+0.004%	$129.9M	$12.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.119	+0.072%	$36.4M	$57.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.122	+0.095%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.108	−0.011%	$54.5M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.110	+0.004%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.138	+0.217%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.140	+0.233%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.144	+0.261%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.148	+0.294%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.114	+0.034%	$81K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.122	+0.097%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.132	+0.175%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.125	+0.118%	$5K	$36K	10x	as long as short
HTX LINK-USDTlong	+0.0100%	8h	13.110	long leg	$645K	$884K	75x
Extended LINK-USD	+0.0104%	1h	13.105	−0.036%	$667K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.127	+0.131%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.128	+0.141%	$994K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.115	+0.042%	$5.2M	$17.2M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0229%	1h	13.134	+0.187%	$363K	$377K	15x	as long as short
Hyperliquid LINK	+0.0281%	1h	13.128	+0.141%	$77.8M	$24.0M	10x	as long as short
Reya LINKRUSDPERP	+0.0379%	1h	13.108	−0.014%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0478%	1h	13.135	+0.198%	$7.0M	$8.2M	50x	as long as short
Phemex LINKUSDTshort	+0.0483%	8h	13.139	+0.225%	$20.3M	$11.6M	50x
dYdX LINK-USD	+0.0629%	1h	13.113	+0.026%	$347K	$48K	10x	as long as short