LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0317%/8h= +34.7% APRnext payment +$0.40 per $10,000 · paid last 24h +0.111%

Price spread now: Reya against Phoenix+0.809%59s7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Reya is 0.809% dearer against Phoenix than usual: you sell high and buy low: +$81 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 59 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	12.845	0.0087	pay 0.0011% / 1h	21m 54s	$3K	$85K	10x
Short	Reya LINKRUSDPERP	12.949	0.0404	get 0.0050% / 1h	21m 54s	$4K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.809%Rate

Funding earned: $66.51
Price spread: +0.809% → 0.000%: $80.9
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: $134.41
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Reya: 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 Reya no order-book sample	—	—	—	—	—

Phoenix and Reya: 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
Orderly PERP_LINK_USDC	−0.0122%	8h	12.951	+0.828%	$91K	$936K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.934	+0.696%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.951	+0.830%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0002%	1h	12.953	+0.846%	$106K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.462%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.953	+0.846%	$6.4M	$8.4M	50x	as long as short
Bybit LINKUSDT	+0.0065%	8h	12.952	+0.835%	$83.7M	$72.5M	75x	as long as short
Phoenix LINKlong	+0.0087%	1h	12.845	long leg	$3K	$85K	10x
Lighter LINK	+0.0096%	1h	12.951	+0.826%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.953	+0.840%	$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	12.942	+0.761%	$349K	$335K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.960	+0.898%	$80.9M	$27.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.960	+0.896%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.950	+0.820%	$275K	$178K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.954	+0.853%	$119.6M	$294.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.954	+0.851%	$27.2M	$79.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.965	+0.937%	$181K	$96K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.956	+0.867%	$134.5M	$17.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.955	+0.859%	$35.1M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.961	+0.905%	$22.9M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.955	+0.859%	$54.1M	$29.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.953	+0.843%	—	$23.0M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.961	+0.905%	$336K	$384K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.835	−0.076%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.860	+0.118%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.865	+0.159%	$588K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.850	+0.041%	$131K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.952	+0.835%	$83K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.822	−0.175%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.967	+0.955%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.953	+0.843%	$11K	$58K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.933	+0.690%	$632K	$698K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.949	+0.812%	$617K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.954	+0.848%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0167%	1h	12.961	+0.908%	$811K	$266K	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.961	+0.905%	$926K	$3.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.929	+0.656%	$5.3M	$15.9M	75x	as long as short
Phemex LINKUSDT	+0.0281%	8h	12.965	+0.937%	$20.0M	$11.4M	50x	as long as short
Reya LINKRUSDPERPshort	+0.0404%	1h	12.949	+0.809%	$4K	—	20x
dYdX LINK-USD	+0.1255%	1h	12.953	+0.846%	$348K	$49K	10x	as long as short