LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0041%/8h= −4.5% APRnext payment −$0.05 per $10,000 · paid last 24h +0.012%

Price spread now: gTrade (Gains Network) against Phoenix−0.337%63s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and gTrade (Gains Network) is 0.337% cheaper against Phoenix than usual: you would sell low and buy high (−$34 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LINK	12.976	0.0049	pay 0.0006% / 1h	41m 43s	$3K	$86K	10x
Short	gTrade (Gains Network) LINK/USD	12.932	L +0.0004% / S −0.0008%	get 0.0001% / 1h	41m 43s	$159K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Phoenix. 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 PhoenixbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.337%Rate

Funding earned: −$8.66
Price spread: −0.337% → 0.000%: −$33.68
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$59.34
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; gTrade (Gains Network): virtual book (oracle venue), 22 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 gTrade (Gains Network) virtual book (oracle venue), 22 min ago	130.04 bp	142.5 bp −$143	1049.2 bp −$10.5K	doesn't fit	doesn't fit

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 −0.0090% / S +0.0167%	1h	12.933	−0.328%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.944	−0.244%	$466K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USDshort	L +0.0004% / S −0.0008%	1h	12.932	−0.337%	$159K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.437%	$4K	$48K	12x	as long as short
Phoenix LINKlong	+0.0049%	1h	12.976	long leg	$3K	$86K	10x
Orderly PERP_LINK_USDC	+0.0068%	8h	12.930	−0.352%	$117K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.935	−0.314%	$956K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0075%	1h	12.941	−0.269%	$768K	$212K	50x	as long as short
Lighter LINK	+0.0096%	1h	12.930	−0.352%	$1.9M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.017	+0.319%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.931	−0.341%	$390K	$316K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.942	−0.260%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.933	−0.329%	$274K	$164K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.933	−0.330%	$119.5M	$304.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.935	−0.314%	$83.3M	$72.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.939	−0.283%	$27.2M	$84.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.954	−0.167%	$181K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.931	−0.344%	$127.7M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.934	−0.321%	$33.7M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.937	−0.298%	$22.5M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.937	−0.298%	$53.7M	$30.8M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.939	−0.283%	—	$22.8M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.952	−0.183%	$337K	$395K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.988	+0.099%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.009	+0.259%	$43K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.962	−0.108%	$584K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.015	+0.303%	$134K	$683K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.941	−0.267%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.935	−0.311%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.951	−0.187%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.938	−0.291%	$15K	$42K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.932	−0.339%	$638K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.936	−0.307%	$658K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.938	−0.290%	$543K	$2K	3x	as long as short
dYdX LINK-USD	+0.0162%	1h	12.934	−0.324%	$343K	$48K	10x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.004	+0.218%	$5.3M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0383%	1h	12.936	−0.309%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0419%	1h	12.959	−0.129%	$79.6M	$29.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0504%	1h	12.941	−0.270%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0648%	8h	12.957	−0.144%	$20.0M	$11.5M	50x	as long as short