Funding you earn now, next payment 04:00 UTC+0.0736%/8h= +80.6% APRnext payment +$0.92 per $10,000 · paid last 24h +0.067%
Price spread now: dYdX against Phoenix−0.324%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.496%+$50 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding pays, the price is against you. dYdX is 0.324% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.324% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$32 on $10k: about 35 hours of funding at the current rate (+$22 a day). At the pace of the last 7 days (+0.496% in total) that is about 4.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.496% in total (about 25.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.92 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 | Phoenix LINK | 12.990 | 0.0074 | pay 0.0009% / 1h | 25m 27s | $3K | $82K | 10x |
| Short | dYdX LINK-USD | 12.948 | 0.0810 | get 0.0101% / 1h | 25m 27s | $344K | $31K | 10x |
Phoenix LINK
dYdX LINK-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $154.57
- Price spread: −0.324% → 0.000%
- −$32.36
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- $105.21
- Costs to cover
- 0.170%
- Break-even
- 2.2 days
Slippage unknown: Phoenix: no order-book sample; dYdX: live order book, 29 min ago. Net counts fees only.
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 Phoenix no order-book sample | — | — | — | — | — |
| Sell dYdX live order book, 29 min ago | 33.30 bp | 38.3 bp −$38 | 149.8 bp −$1,498 | 173.8 bp −$17.4K | 212.3 bp −$106.1K |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 −0.0089% / S +0.0166% | 1h | 12.943 | −0.360% | $1.8M | — | 200x | as long as short |
| Kalshi KXLINKPERP | 0.0000% | 8h | 12.953 | −0.282% | $493K | $2.3M | 3.7x | as long as short |
| gTrade (Gains Network) LINK/USD | L +0.0004% / S −0.0006% | 1h | 12.941 | −0.375% | $184K | — | 150x | as long as short |
| Injective LINK/USDC PERP | +0.0033% | 1h | 12.400 | −4.540% | $4K | $48K | 12x | as long as short |
| Orderly PERP_LINK_USDC | +0.0049% | 8h | 12.940 | −0.383% | $117K | $1.1M | 20x | as long as short |
| Phoenix LINKlong | +0.0074% | 1h | 12.990 | long leg | $3K | $82K | 10x | |
| Lighter LINK | +0.0096% | 1h | 12.947 | −0.326% | $1.9M | $2.8M | 10x | as long as short |
| Paradex LINK-USD-PERP | +0.0100% | 8h | 12.948 | −0.323% | $31K | $2K | 20x | as long as short |
| Nado LINK-PERP | +0.0100% | 1h | 12.943 | −0.360% | $391K | $308K | 10x | as long as short |
| Aster LINKUSDT | +0.0100% | 8h | 12.945 | −0.345% | $1.2M | $2.4M | 50x | as long as short |
GMX LINK/USD [LINK-USDC]
Kalshi KXLINKPERP
gTrade (Gains Network) LINK/USD
Injective LINK/USDC PERP
Orderly PERP_LINK_USDC
Lighter LINK
Paradex LINK-USD-PERP
Nado LINK-PERP
Aster LINKUSDTShow all 40 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica LINK | +0.0100% | 1h | 12.950 | −0.308% | $276K | $181K | 10x | as long as short |
| Binance LINKUSDT | +0.0100% | 8h | 12.941 | −0.372% | $120.1M | $299.9M | 75x | as long as short |
| Bybit LINKUSDT | +0.0100% | 8h | 12.941 | −0.376% | $83.6M | $72.5M | 75x | as long as short |
| OKX LINK-USDT-SWAP | +0.0100% | 8h | 12.943 | −0.360% | $27.4M | $80.7M | 50x | as long as short |
| Arcus LINK-USD | +0.0100% | 1h | 12.962 | −0.214% | $181K | $167K | 10x | as long as short |
| Gate LINK_USDT | +0.0100% | 8h | 12.947 | −0.329% | $128.3M | $12.9M | 75x | as long as short |
| MEXC LINK_USDT | +0.0100% | 8h | 12.942 | −0.368% | $32.7M | $56.9M | 300x | as long as short |
| KuCoin LINKUSDTM | +0.0100% | 8h | 12.947 | −0.329% | $22.7M | $13.4M | 75x | as long as short |
| Bitget LINKUSDT | +0.0100% | 8h | 12.946 | −0.337% | $54.0M | $29.4M | 75x | as long as short |
| BingX LINK-USDC | +0.0100% | 8h | 12.940 | −0.383% | — | $6.6M | — | as long as short |
| Backpack LINK_USDC_PERP | +0.0100% | 1h | 12.947 | −0.329% | $340K | $390K | 15x | as long as short |
| Variational Omni LINK | +0.0100% | 8h | 12.938 | −0.398% | $3.3M | $1.6M | — | as long as short |
| edgeX LINKUSDC | +0.0100% | 4h | 12.952 | −0.293% | $43K | $306K | 20x | as long as short |
| GRVT LINK_USDT_Perp | +0.0100% | 8h | 12.976 | −0.106% | $591K | $2.8M | 10x | as long as short |
| ApeX Omni LINKUSDT | +0.0100% | 1h | 12.955 | −0.268% | $132K | $673K | 50x | as long as short |
| Polymarket Perps LINK-USD | +0.0100% | 1h | 12.949 | −0.314% | $81K | $70K | 10x | as long as short |
| Derive LINK-PERP | +0.0100% | 1h | 12.941 | −0.377% | $16K | $22K | 10x | as long as short |
| SunX LINK-USDT | +0.0100% | 8h | 12.957 | −0.252% | $33K | $1.5M | 30x | as long as short |
| SoDEX LINK-USD | +0.0100% | 1h | 12.943 | −0.360% | $11K | $64K | 10x | as long as short |
| HTX LINK-USDT | +0.0100% | 8h | 12.924 | −0.504% | $634K | $694K | 75x | as long as short |
| Extended LINK-USD | +0.0104% | 1h | 12.939 | −0.393% | $631K | $2.0M | 25x | as long as short |
| Aevo LINK-PERP | +0.0104% | 1h | 12.944 | −0.355% | $543K | $2K | 3x | as long as short |
| Coinbase International LINK-PERP-INTX | +0.0104% | 1h | 12.975 | −0.114% | $924K | $2.7M | 50x | as long as short |
| Deribit LINK_USDC-PERPETUAL | +0.0136% | 1h | 12.947 | −0.326% | $786K | $210K | 50x | as long as short |
| BloFin LINK-USDT | +0.0220% | 8h | 12.951 | −0.299% | $5.3M | $15.7M | 75x | as long as short |
| Kraken Futures PF_LINKUSD | +0.0244% | 1h | 12.946 | −0.337% | $6.7M | $8.1M | 50x | as long as short |
| Hyperliquid LINK | +0.0329% | 1h | 12.957 | −0.253% | $80.9M | $27.5M | 10x | as long as short |
| Reya LINKRUSDPERP | +0.0392% | 1h | 12.939 | −0.390% | $4K | — | 20x | as long as short |
| Phemex LINKUSDT | +0.0554% | 8h | 12.961 | −0.222% | $20.0M | $11.3M | 50x | as long as short |
| dYdX LINK-USDshort | +0.0810% | 1h | 12.948 | −0.324% | $344K | $31K | 10x |
Pacifica LINK
Binance LINKUSDT
Bybit LINKUSDT
OKX LINK-USDT-SWAP
Arcus LINK-USD
Gate LINK_USDT
MEXC LINK_USDT
KuCoin LINKUSDTM
Bitget LINKUSDT
BingX LINK-USDC
Backpack LINK_USDC_PERP
Variational Omni LINK
edgeX LINKUSDC
GRVT LINK_USDT_Perp
ApeX Omni LINKUSDT
Polymarket Perps LINK-USD
Derive LINK-PERP
SunX LINK-USDT
SoDEX LINK-USD
HTX LINK-USDT
Extended LINK-USD
Aevo LINK-PERP
Coinbase International LINK-PERP-INTX
Deribit LINK_USDC-PERPETUAL
BloFin LINK-USDT
Kraken Futures PF_LINKUSD
Hyperliquid LINK
Reya LINKRUSDPERP
Phemex LINKUSDT