Funding you earn now, next payment 16:00 UTC−0.0219%/8h= −24.0% APRnext payment −$2.19 per $10,000 · paid last 24h −0.018%
Price spread now: Orderly against OKX0.000%50s7-day average +0.032% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.032%+$3 on $10k
+Price spread, last 4 days (all we have)+0.194%+$19 · spread now 0.000%, 7d avg +0.032%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Orderly is 0.032% cheaper against OKX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.032%). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.032% in total (about 1.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.19 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 | OKX LINK-USDT-SWAP | 12.840 | 0.0100 | pay 0.0100% / 8h | 7h 26m | $27.0M | $79.1M | 50x |
| Short | Orderly PERP_LINK_USDC | 12.840 | −0.0119 | pay 0.0119% / 8h | 7h 26m | $90K | $965K | 20x |
OKX LINK-USDT-SWAP
Orderly PERP_LINK_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against OKX. 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
- −$45.96
- Price spread: 0.000% → +0.032%
- −$3.2
- Slippage, 4 orders
- no order book: not counted
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$65.16
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: OKX: live order book, 2 min ago; Orderly: 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 OKX live order book, 2 min ago | 0.39 bp | 6.8 bp −$7 | 14.6 bp −$146 | 31.4 bp −$3,144 | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_LINK_USDCshort | −0.0119% | 8h | 12.840 | 0.000% | $90K | $965K | 20x | |
| GMX LINK/USD [LINK-USDC] | L −0.0087% / S +0.0165% | 1h | 12.851 | +0.082% | $1.7M | — | 200x | as long as short |
| Kalshi KXLINKPERP | 0.0000% | 8h | 12.854 | +0.106% | $504K | $2.3M | 3.7x | as long as short |
| gTrade (Gains Network) LINK/USD | L +0.0004% / S −0.0002% | 1h | 12.823 | −0.133% | $105K | — | 150x | as long as short |
| Bybit LINKUSDT | +0.0016% | 8h | 12.839 | −0.008% | $83.1M | $72.7M | 75x | as long as short |
| Injective LINK/USDC PERP | +0.0033% | 1h | 12.400 | −3.427% | $4K | $48K | 12x | as long as short |
| Kraken Futures PF_LINKUSD | +0.0049% | 1h | 12.847 | +0.055% | $6.4M | $8.4M | 50x | as long as short |
| Phoenix LINK | +0.0087% | 1h | 12.834 | −0.048% | $3K | $85K | 10x | as long as short |
| Lighter LINK | +0.0096% | 1h | 12.843 | +0.023% | $1.9M | $2.9M | 10x | as long as short |
| Paradex LINK-USD-PERP | +0.0100% | 8h | 12.838 | −0.018% | $31K | $2K | 20x | as long as short |
GMX LINK/USD [LINK-USDC]
Kalshi KXLINKPERP
gTrade (Gains Network) LINK/USD
Bybit LINKUSDT
Injective LINK/USDC PERP
Kraken Futures PF_LINKUSD
Phoenix LINK
Lighter LINK
Paradex LINK-USD-PERPShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado LINK-PERP | +0.0100% | 1h | 12.845 | +0.039% | $347K | $335K | 10x | as long as short |
| Hyperliquid LINK | +0.0100% | 1h | 12.848 | +0.062% | $80.2M | $28.1M | 10x | as long as short |
| Aster LINKUSDT | +0.0100% | 8h | 12.848 | +0.063% | $1.2M | $2.4M | 50x | as long as short |
| Pacifica LINK | +0.0100% | 1h | 12.843 | +0.021% | $273K | $178K | 10x | as long as short |
| Binance LINKUSDT | +0.0100% | 8h | 12.841 | +0.008% | $118.5M | $295.5M | 75x | as long as short |
| OKX LINK-USDT-SWAPlong | +0.0100% | 8h | 12.840 | long leg | $27.0M | $79.1M | 50x | |
| Arcus LINK-USD | +0.0100% | 1h | 12.856 | +0.125% | $180K | $100K | 10x | as long as short |
| Gate LINK_USDT | +0.0100% | 8h | 12.842 | +0.016% | $133.2M | $17.7M | 75x | as long as short |
| MEXC LINK_USDT | +0.0100% | 8h | 12.840 | 0.000% | $35.1M | $59.0M | 300x | as long as short |
| KuCoin LINKUSDTM | +0.0100% | 8h | 12.847 | +0.055% | $22.7M | $12.3M | 75x | as long as short |
| Bitget LINKUSDT | +0.0100% | 8h | 12.837 | −0.023% | $53.6M | $29.6M | 75x | as long as short |
| BingX LINK-USDT | +0.0100% | 8h | 12.838 | −0.016% | — | $23.2M | — | as long as short |
| Backpack LINK_USDC_PERP | +0.0100% | 1h | 12.853 | +0.101% | $334K | $385K | 15x | as long as short |
| Variational Omni LINK | +0.0100% | 8h | 12.832 | −0.059% | $3.3M | $1.8M | — | as long as short |
| edgeX LINKUSDC | +0.0100% | 4h | 12.834 | −0.049% | $43K | $309K | 20x | as long as short |
| GRVT LINK_USDT_Perp | +0.0100% | 8h | 12.831 | −0.072% | $575K | $3.0M | 10x | as long as short |
| ApeX Omni LINKUSDT | +0.0100% | 1h | 12.841 | +0.008% | $131K | $671K | 50x | as long as short |
| Polymarket Perps LINK-USD | +0.0100% | 1h | 12.846 | +0.047% | $82K | $70K | 10x | as long as short |
| Derive LINK-PERP | +0.0100% | 1h | 12.822 | −0.138% | $16K | $22K | 10x | as long as short |
| SunX LINK-USDT | +0.0100% | 8h | 12.863 | +0.175% | $33K | $1.4M | 30x | as long as short |
| SoDEX LINK-USD | +0.0100% | 1h | 12.847 | +0.055% | $10K | $58K | 10x | as long as short |
| HTX LINK-USDT | +0.0100% | 8h | 12.828 | −0.093% | $627K | $703K | 75x | as long as short |
| Extended LINK-USD | +0.0104% | 1h | 12.831 | −0.068% | $614K | $2.0M | 25x | as long as short |
| Aevo LINK-PERP | +0.0104% | 1h | 12.846 | +0.047% | $539K | $2K | 3x | as long as short |
| Deribit LINK_USDC-PERPETUAL | +0.0124% | 1h | 12.852 | +0.093% | $804K | $268K | 50x | as long as short |
| Coinbase International LINK-PERP-INTX | +0.0184% | 1h | 12.822 | −0.140% | $922K | $3.2M | 50x | as long as short |
| BloFin LINK-USDT | +0.0220% | 8h | 12.844 | +0.031% | $5.3M | $15.8M | 75x | as long as short |
| Reya LINKRUSDPERP | +0.0403% | 1h | 12.841 | +0.012% | $4K | — | 20x | as long as short |
| Phemex LINKUSDT | +0.0529% | 8h | 12.862 | +0.171% | $19.9M | $11.4M | 50x | as long as short |
| dYdX LINK-USD | +0.1401% | 1h | 12.844 | +0.035% | $345K | $49K | 10x | as long as short |
Nado LINK-PERP
Hyperliquid LINK
Aster LINKUSDT
Pacifica LINK
Binance LINKUSDT
Arcus LINK-USD
Gate LINK_USDT
MEXC LINK_USDT
KuCoin LINKUSDTM
Bitget LINKUSDT
BingX LINK-USDT
Backpack LINK_USDC_PERP
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
Deribit LINK_USDC-PERPETUAL
Coinbase International LINK-PERP-INTX
BloFin LINK-USDT
Reya LINKRUSDPERP
Phemex LINKUSDT
dYdX LINK-USD