LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0423%/8h= −46.3% APRnext payment −$4.23 per $10,000 · paid last 24h −0.070%

Price spread now: Binance against Phemex−0.099%7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.265%−$26 on $10k

Price spread, last 3 days (all we have)−0.024%−$2 · spread now −0.099%, 7d avg −0.098%

Together, before fees−0.289%−$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.098%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.265% in total (about -13.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.23 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	Phemex LINKUSDT	13.168	0.0523	pay 0.0523% / 8h	7h 55m	$20.4M	$11.6M	50x
Short	Binance LINKUSDT	13.155	0.0100	get 0.0100% / 8h	7h 55m	$122.2M	$306.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now −0.099%Rate

Funding earned: −$88.81
Price spread: −0.099% → −0.098%: −$0.04
Slippage, 4 orders: −$14.94
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$125.79
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Binance: 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 Phemex live order book, 4 min ago	1.52 bp	9.0 bp −$9	13.5 bp −$135	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.38 bp	7.6 bp −$8	13.3 bp −$133	35.7 bp −$3,574	119.7 bp −$59.9K

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
Gate LINK_USDT	−0.0111%	8h	13.153	−0.114%	$130.4M	$12.1M	75x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0167%	1h	13.150	−0.140%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.171	+0.027%	$481K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.154	−0.103%	$747K	$161K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.151	−0.131%	$133K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.172	+0.032%	$4K	$89K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.832%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.147	−0.159%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.152	−0.120%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.153	−0.114%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.154	−0.106%	$402K	$312K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.156	−0.091%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.162	−0.047%	$277K	$151K	10x	as long as short
Binance LINKUSDTshort	+0.0100%	8h	13.155	−0.099%	$122.2M	$306.5M	75x
Bybit LINKUSDT	+0.0100%	8h	13.152	−0.122%	$85.0M	$71.8M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.161	−0.053%	$27.9M	$86.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.172	+0.030%	$185K	$172K	10x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.153	−0.114%	$36.6M	$57.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.157	−0.084%	$22.8M	$14.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.155	−0.099%	$54.7M	$30.7M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.159	−0.068%	—	$21.4M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.175	+0.051%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.166	−0.013%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.169	+0.008%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.169	+0.008%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.155	−0.099%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.148	−0.154%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.167	−0.008%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.151	−0.129%	$5K	$31K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.144	−0.185%	$647K	$875K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.149	−0.146%	$740K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.162	−0.045%	$552K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.152	−0.122%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.166	−0.015%	$5.2M	$16.7M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0285%	1h	13.167	−0.008%	$365K	$373K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0365%	1h	13.157	−0.086%	$6.9M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.146	−0.171%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0419%	1h	13.157	−0.087%	$348K	$48K	10x	as long as short
Hyperliquid LINK	+0.0440%	1h	13.173	+0.038%	$79.2M	$24.6M	10x	as long as short
Phemex LINKUSDTlong	+0.0523%	8h	13.168	long leg	$20.4M	$11.6M	50x