LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0495%/8h= −54.2% APRnext payment −$4.95 per $10,000 · paid last 24h −0.082%

Price spread now: MEXC against Phemex−0.154%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$190.186% of the position

Long on Phemex Short on MEXC

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)−0.162%−$16 · spread now −0.154%, 7d avg −0.097%

Together, before fees−0.456%−$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and MEXC is 0.057% cheaper against Phemex than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.097%). Swap the legs.

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 −$4.95 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	13.021	0.0595	pay 0.0595% / 8h	5h 28m	$20.1M	$11.5M	50x
Short	MEXC LINK_USDT	13.001	0.0100	get 0.0100% / 8h	5h 28m	$32.0M	$57.1M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.154%Rate

Funding earned: −$103.86
Price spread: −0.154% → −0.097%: −$5.7
Slippage, 4 orders: −$6.57
Fee Phemex: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$128.13
Costs to cover: 0.186%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; MEXC: 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 Phemex live order book, 5 min ago	0.77 bp	8.4 bp −$8	14.9 bp −$149	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.38 bp	0.4 bp $0	3.5 bp −$35	28.3 bp −$2,831	48.5 bp −$24.2K

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	13.013	−0.058%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.033	+0.093%	$482K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	13.014	−0.051%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.769%	$4K	$48K	12x	as long as short
Coinbase International LINK-PERP-INTX	+0.0064%	1h	13.023	+0.015%	$938K	$2.7M	50x	as long as short
Orderly PERP_LINK_USDC	+0.0065%	8h	13.009	−0.092%	$117K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.999	−0.169%	$1.9M	$2.8M	10x	as long as short
Phoenix LINK	+0.0098%	1h	13.044	+0.174%	$3K	$84K	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.000	−0.161%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.018	−0.023%	$396K	$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	−0.123%	$1.3M	$2.3M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.001	−0.153%	$274K	$171K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.001	−0.154%	$119.9M	$296.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.997	−0.184%	$83.9M	$71.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.996	−0.192%	$27.4M	$82.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.018	−0.023%	$182K	$165K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.003	−0.138%	$128.3M	$12.7M	75x	as long as short
MEXC LINK_USDTshort	+0.0100%	8h	13.001	−0.154%	$32.0M	$57.1M	300x
KuCoin LINKUSDTM	+0.0100%	8h	13.003	−0.138%	$23.0M	$13.5M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.999	−0.169%	$54.1M	$30.0M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.000	−0.161%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.009	−0.092%	$342K	$382K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.029	+0.060%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.018	−0.025%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.036	+0.114%	$590K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.034	+0.100%	$134K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.022	+0.008%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.009	−0.094%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.031	+0.075%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.006	−0.115%	$5K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.011	−0.081%	$642K	$688K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.994	−0.205%	$649K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.010	−0.084%	$546K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0157%	1h	13.013	−0.065%	$773K	$184K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.014	−0.054%	$5.2M	$15.8M	75x	as long as short
dYdX LINK-USD	+0.0351%	1h	13.002	−0.147%	$344K	$30K	10x	as long as short
Reya LINKRUSDPERP	+0.0387%	1h	13.015	−0.044%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0554%	1h	13.008	−0.101%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDTlong	+0.0595%	8h	13.021	long leg	$20.1M	$11.5M	50x
Hyperliquid LINK	+0.0643%	1h	13.018	−0.023%	$81.8M	$27.2M	10x	as long as short