Settings8H · net · $10k
Funding arb · Price arb /

LINK

all LINK markets
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Alert: funding
Alert: spread
Funding you earn now, next payment 08:00 UTC−0.0476%/8h= −52.1% APRnext payment $4.76 per $10,000 · paid last 24h −0.082%
Price spread now: Binance against Phemex−0.158%52s7-day average −0.095% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costsprices read too far apart to compare
costs, in and out, $10k−$340.342% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.294%−$29 on $10k
Price spread, last 4 days (all we have)+0.036%+$4 · spread now −0.158%, 7d avg −0.095%
Together, before fees−0.258%−$26 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Binance is 0.063% cheaper against Phemex than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.095%). Swap the legs. The two prices were read 52 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 -0.294% in total (about -15.3% a year). A funding rate is set anew for every payment; at this rate the next one is about $4.76 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex LINKUSDT12.9250.0576pay 0.0576% / 8h1h 55m$19.9M$11.3M50x
ShortBinance LINKUSDT12.9050.0100get 0.0100% / 8h1h 55m$119.0M$301.6M75x

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

Funding earned
−$99.87
Price spread: −0.158% → −0.095%
−$6.32
Slippage, 4 orders
−$12.23
Fee Phemex: 6 bp × 2 orders
−$12
Fee Binance: 5 bp × 2 orders
−$10
Net
−$140.42
Costs to cover
0.342%
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
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 4 min ago0.77 bp10.1 bp −$1017.7 bp −$177doesn't fitdoesn't fit
Sell Binance live order book, 3 min ago0.39 bp6.9 bp −$712.7 bp −$12732.3 bp −$3,231121.3 bp −$60.7K

LINK on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX LINK/USD [LINK-USDC]L −0.0089% / S +0.0166%1h12.902−0.178%$1.8M200xas long as short
Kalshi KXLINKPERP0.0000%8h12.914−0.087%$513K$2.3M3.7xas long as short
gTrade (Gains Network) LINK/USDL +0.0004% / S −0.0005%1h12.907−0.138%$156K150xas long as short
Orderly PERP_LINK_USDC+0.0015%8h12.898−0.209%$94K$1.2M20xas long as short
Injective LINK/USDC PERP+0.0033%1h12.400−4.062%$4K$48K12xas long as short
Phoenix LINK+0.0074%1h12.916−0.066%$3K$85K10xas long as short
Lighter LINK+0.0096%1h12.908−0.128%$1.9M$2.8M10xas long as short
Paradex LINK-USD-PERP+0.0100%8h12.907−0.138%$31K$2K20xas long as short
Nado LINK-PERP+0.0100%1h12.906−0.143%$348K$337K10xas long as short
Aster LINKUSDT+0.0100%8h12.906−0.147%$1.2M$2.4M50xas long as short
Show all 40 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Pacifica LINK+0.0100%1h12.909−0.121%$275K$183K10xas long as short
Binance LINKUSDTshort+0.0100%8h12.905−0.158%$119.0M$301.6M75x
Bybit LINKUSDT+0.0100%8h12.899−0.201%$83.2M$73.5M75xas long as short
OKX LINK-USDT-SWAP+0.0100%8h12.901−0.186%$27.0M$81.0M50xas long as short
Arcus LINK-USD+0.0100%1h12.923−0.015%$180K$94K10xas long as short
Gate LINK_USDT+0.0100%8h12.900−0.193%$124.1M$15.1M75xas long as short
MEXC LINK_USDT+0.0100%8h12.905−0.155%$33.1M$57.5M300xas long as short
KuCoin LINKUSDTM+0.0100%8h12.907−0.139%$22.8M$12.9M75xas long as short
Bitget LINKUSDT+0.0100%8h12.904−0.162%$53.9M$30.4M75xas long as short
BingX LINK-USDC+0.0100%8h12.902−0.178%$6.6Mas long as short
Variational Omni LINK+0.0100%8h12.901−0.184%$3.3M$1.7Mas long as short
edgeX LINKUSDC+0.0100%4h12.938+0.104%$43K$305K20xas long as short
GRVT LINK_USDT_Perp+0.0100%8h12.911−0.110%$586K$2.9M10xas long as short
ApeX Omni LINKUSDT+0.0100%1h12.924−0.008%$132K$673K50xas long as short
Polymarket Perps LINK-USD+0.0100%1h12.908−0.132%$81K$70K10xas long as short
Derive LINK-PERP+0.0100%1h12.902−0.176%$16K$22K10xas long as short
SunX LINK-USDT+0.0100%8h12.921−0.034%$33K$1.4M30xas long as short
SoDEX LINK-USD+0.0100%1h12.905−0.155%$10K$61K10xas long as short
HTX LINK-USDT+0.0100%8h12.894−0.243%$632K$786K75xas long as short
Extended LINK-USD+0.0104%1h12.899−0.198%$628K$2.0M25xas long as short
Aevo LINK-PERP+0.0104%1h12.907−0.136%$541K$2K3xas long as short
Coinbase International LINK-PERP-INTX+0.0120%1h12.914−0.085%$933K$2.8M50xas long as short
Backpack LINK_USDC_PERP+0.0150%1h12.916−0.070%$337K$389K15xas long as short
Kraken Futures PF_LINKUSD+0.0193%1h12.908−0.130%$6.6M$8.3M50xas long as short
BloFin LINK-USDT+0.0220%8h12.908−0.132%$5.2M$15.8M75xas long as short
Deribit LINK_USDC-PERPETUAL+0.0238%1h12.913−0.091%$805K$254K50xas long as short
Hyperliquid LINK+0.0280%1h12.920−0.042%$80.5M$27.7M10xas long as short
Reya LINKRUSDPERP+0.0397%1h12.901−0.185%$4K20xas long as short
Phemex LINKUSDTlong+0.0576%8h12.925long leg$19.9M$11.3M50x
dYdX LINK-USD+0.1145%1h12.908−0.133%$344K$33K10xas long as short