LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0216%/8h= −23.6% APRnext payment −$0.27 per $10,000 · paid last 24h −0.026%

Price spread now: GMX against Phoenix+0.140%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on GMX

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

The price spread pays, funding is against you. GMX is 0.140% dearer against Phoenix than usual: you sell high and buy low (spread +0.140% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.2 days.

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	42m 48s	$3K	$86K	10x
Short	GMX LINK/USD [LINK-USDC]	12.994	L −0.0090% / S +0.0167%	pay 0.0021% / 1h	42m 48s	$1.8M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.140%Rate

Funding earned: −$45.35
Price spread: +0.140% → 0.000%: $14
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: −$50.35
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; GMX: no order-book sample. 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 GMX no order-book sample	—	—	—	—	—

Phoenix and GMX: 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]short	L −0.0090% / S +0.0167%	1h	12.994	+0.140%	$1.8M	—	200x
Kalshi KXLINKPERP	0.0000%	8h	13.005	+0.227%	$467K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.996	+0.154%	$149K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.437%	$4K	$48K	12x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0043%	1h	12.993	+0.134%	$772K	$212K	50x	as long as short
Phoenix LINKlong	+0.0049%	1h	12.976	long leg	$3K	$86K	10x
Orderly PERP_LINK_USDC	+0.0068%	8h	12.985	+0.072%	$118K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	12.986	+0.079%	$954K	$2.7M	50x	as long as short
dYdX LINK-USD	+0.0095%	1h	12.945	−0.237%	$343K	$48K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.942	−0.260%	$1.9M	$2.7M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0099%	8h	13.005	+0.229%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.995	+0.151%	$392K	$311K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.962	−0.106%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.945	−0.235%	$274K	$164K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.942	−0.260%	$119.6M	$304.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.941	−0.267%	$83.4M	$72.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.936	−0.306%	$27.2M	$83.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.011	+0.272%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.961	−0.113%	$128.0M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.945	−0.237%	$33.9M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.971	−0.036%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.941	−0.267%	$53.7M	$30.8M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.943	−0.252%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.987	+0.087%	$341K	$390K	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	13.001	+0.195%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.987	+0.090%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.015	+0.300%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.989	+0.102%	$15K	$42K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.988	+0.095%	$641K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.954	−0.169%	$660K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.992	+0.122%	$545K	$2K	3x	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	12.993	+0.130%	$4K	—	20x	as long as short
Hyperliquid LINK	+0.0429%	1h	12.959	−0.129%	$79.6M	$29.7M	10x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.995	+0.147%	$6.8M	$8.1M	50x	as long as short
Phemex LINKUSDT	+0.0563%	8h	13.000	+0.187%	$20.1M	$11.5M	50x	as long as short