LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0598%/8h= −65.5% APRnext payment −$5.98 per $10,000 · paid last 24h −0.106%

Price spread now: Kalshi against Phemex−0.147%7-day average −0.160% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on Phemex Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.446%−$45 on $10k

Price spread, last 4 days (all we have)−0.086%−$9 · spread now −0.147%, 7d avg −0.160%

Together, before fees−0.532%−$53 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.160%, so right now this pair is about funding alone: −$18 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex LINKUSDT	13.009	0.0598	pay 0.0598% / 8h	5h 26m	$20.1M	$11.5M	50x
Short	Kalshi KXLINKPERP	12.990	0	get 0.0000% / 8h	1h 26m	$480K	$2.2M	3.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.147%Rate

Funding earned: −$125.58
Price spread: −0.147% → −0.160%: $1.3
Slippage, 4 orders: −$27.1
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$173.38
Costs to cover: 0.491%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Kalshi: live order book, 2 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, 2 min ago	0.77 bp	8.4 bp −$8	14.1 bp −$141	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	11.19 bp	16.2 bp −$16	19.0 bp −$190	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 −0.0090% / S +0.0167%	1h	12.989	−0.152%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERPshort	0.0000%	8h	12.990	−0.147%	$480K	$2.2M	3.7x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.991	−0.141%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.681%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.003	−0.046%	$936K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0065%	8h	12.987	−0.169%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.005	−0.031%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.044	+0.266%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.007	−0.015%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.016	+0.058%	$394K	$315K	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	13.005	−0.031%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.010	+0.010%	$274K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.020	+0.085%	$120.0M	$296.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.019	+0.077%	$84.1M	$71.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.020	+0.085%	$27.4M	$82.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.030	+0.161%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.013	+0.031%	$128.4M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.014	+0.038%	$32.0M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.008	−0.008%	$23.0M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.017	+0.061%	$54.2M	$29.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.013	+0.031%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.002	−0.054%	$342K	$382K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.029	+0.152%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.014	+0.039%	$43K	$304K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.001	−0.061%	$588K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.034	+0.192%	$134K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.026	+0.131%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.989	−0.157%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.006	−0.023%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.992	−0.131%	$5K	$60K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.979	−0.228%	$640K	$687K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.011	+0.015%	$649K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.993	−0.124%	$545K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0197%	1h	12.995	−0.105%	$772K	$174K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.998	−0.085%	$5.2M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0387%	1h	13.014	+0.040%	$4K	—	20x	as long as short
dYdX LINK-USD	+0.0424%	1h	13.012	+0.020%	$345K	$30K	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	12.995	−0.108%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDTlong	+0.0598%	8h	13.009	long leg	$20.1M	$11.5M	50x
Hyperliquid LINK	+0.0648%	1h	13.030	+0.161%	$81.9M	$27.2M	10x	as long as short