LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0026%/8h= +2.9% APRnext payment +$0.03 per $10,000 · paid last 24h +0.035%

Price spread now: Nado against Phoenix−0.283%7-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 Nado

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—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding pays, the price is against you. Nado is 0.283% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.283% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$28 on $10k: about 36 days of funding at the current rate (+$1 a day).

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	26m 45s	$3K	$82K	10x
Short	Nado LINK-PERP	12.953	0.0100	get 0.0012% / 1h	26m 45s	$391K	$308K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.283%Rate

Funding earned: $5.49
Price spread: −0.283% → 0.000%: −$28.33
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$36.84
Costs to cover: 0.140%
Break-even: 54.0 days

Slippage unknown: Phoenix: no order-book sample; Nado: live order book, 26 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 Nado live order book, 26 min ago	1.15 bp	7.6 bp −$8	17.6 bp −$176	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 −0.0089% / S +0.0166%	1h	12.949	−0.317%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.961	−0.220%	$493K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.949	−0.311%	$185K	—	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	12.943	−0.360%	$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	12.949	−0.314%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.947	−0.328%	$31K	$2K	20x	as long as short
Nado LINK-PERPshort	+0.0100%	1h	12.953	−0.283%	$391K	$308K	10x
Aster LINKUSDT	+0.0100%	8h	12.948	−0.322%	$1.2M	$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	12.949	−0.312%	$276K	$181K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.945	−0.343%	$120.1M	$299.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.944	−0.353%	$83.6M	$72.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.948	−0.322%	$27.4M	$81.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.963	−0.206%	$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	12.947	−0.329%	$32.7M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.955	−0.268%	$22.7M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.944	−0.353%	$53.9M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.949	−0.314%	—	$22.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.951	−0.299%	$340K	$390K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.006	+0.126%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.981	−0.071%	$43K	$305K	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	12.997	+0.055%	$133K	$674K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.960	−0.229%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.944	−0.355%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.966	−0.182%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.948	−0.322%	$12K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.935	−0.422%	$635K	$694K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.941	−0.374%	$631K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.948	−0.318%	$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	+0.0105%	1h	12.950	−0.307%	$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	12.952	−0.288%	$6.7M	$8.1M	50x	as long as short
Hyperliquid LINK	+0.0333%	1h	12.963	−0.206%	$81.0M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0392%	1h	12.950	−0.305%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0556%	8h	12.965	−0.191%	$20.0M	$11.3M	50x	as long as short
dYdX LINK-USD	+0.0787%	1h	12.948	−0.324%	$344K	$31K	10x	as long as short