LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0485%/8h= −53.1% APRnext payment −$4.85 per $10,000 · paid last 24h −0.076%

Price spread now: SunX against Phemex−0.025%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$570.568% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.236%−$24 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.025%, 7d avg +0.003%

Together, before fees−0.224%−$22 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 SunX is 0.028% cheaper against Phemex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.236% in total (about -12.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.85 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	12.898	0.0585	pay 0.0585% / 8h	1h 29m	$19.9M	$11.3M	50x
Short	SunX LINK-USDT	12.895	0.0100	get 0.0100% / 8h	1h 29m	$33K	$1.4M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$101.79
Price spread: −0.025% → +0.003%: −$2.79
Slippage, 4 orders: −$36.75
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$161.33
Costs to cover: 0.568%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; SunX: 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, 4 min ago	1.17 bp	9.5 bp −$9	14.3 bp −$143	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	13.69 bp	19.2 bp −$19	doesn't fit	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 −0.0088% / S +0.0166%	1h	12.873	−0.196%	$1.8M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0008%	8h	12.871	−0.209%	$94K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.880	−0.140%	$510K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.873	−0.195%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.861%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0093%	1h	12.855	−0.336%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.879	−0.150%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.880	−0.137%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.871	−0.205%	$350K	$340K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.881	−0.136%	$1.3M	$2.4M	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica LINK	+0.0100%	1h	12.879	−0.150%	$274K	$184K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.881	−0.134%	$118.9M	$301.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.875	−0.178%	$83.2M	$73.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.877	−0.163%	$26.9M	$80.7M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.895	−0.023%	$180K	$94K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.875	−0.178%	$124.0M	$15.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.881	−0.132%	$34.4M	$58.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.882	−0.124%	$22.7M	$12.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.877	−0.163%	$53.9M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.879	−0.147%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	12.867	−0.238%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.858	−0.310%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.869	−0.226%	$580K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.863	−0.271%	$132K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.880	−0.140%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.852	−0.357%	$16K	$22K	10x	as long as short
SunX LINK-USDTshort	+0.0100%	8h	12.895	−0.025%	$33K	$1.4M	30x
SoDEX LINK-USD	+0.0100%	1h	12.880	−0.140%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.820	−0.608%	$629K	$783K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.876	−0.171%	$626K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.883	−0.114%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	12.869	−0.225%	$933K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0124%	1h	12.887	−0.085%	$336K	$388K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0193%	1h	12.884	−0.112%	$6.6M	$8.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.874	−0.186%	$5.2M	$15.8M	75x	as long as short
Hyperliquid LINK	+0.0339%	1h	12.893	−0.039%	$80.4M	$27.7M	10x	as long as short
Reya LINKRUSDPERP	+0.0398%	1h	12.874	−0.184%	$4K	—	20x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0488%	1h	12.887	−0.086%	$806K	$266K	50x	as long as short
Phemex LINKUSDTlong	+0.0585%	8h	12.898	long leg	$19.9M	$11.3M	50x
dYdX LINK-USD	+0.0900%	1h	12.873	−0.196%	$343K	$33K	10x	as long as short