LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0409%/8h= +44.8% APRnext payment +$4.09 per $10,000 · paid last 24h +0.076%

Price spread now: Phemex against Bitget+0.053%7-day average +0.119% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$430.431% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.272%+$27 on $10k

Price spread, last 3 days (all we have)+0.090%+$9 · spread now +0.053%, 7d avg +0.119%

Together, before fees+0.362%+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.066% cheaper against Bitget than usual: you would sell low and buy high (spread +0.053% now, against its 7-day average of +0.119%). If the spread goes back, that is −$7 on $10k: about 13 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.272% in total) that is about 41 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.272% in total (about 14.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.09 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	Bitget LINKUSDT	13.196	0.0100	pay 0.0100% / 8h	7h 09m	$54.7M	$30.1M	75x
Short	Phemex LINKUSDT	13.203	0.0509	get 0.0509% / 8h	7h 09m	$20.4M	$11.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now +0.053%Rate

Funding earned: $85.96
Price spread: +0.053% → +0.119%: −$6.61
Slippage, 4 orders: −$19.06
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: $36.29
Costs to cover: 0.431%
Break-even: 4.0 days

Slippage from Bitget: live order book, 4 min ago; Phemex: live order book, 4 min ago.

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 Bitget live order book, 4 min ago	0.38 bp	11.0 bp −$11	16.5 bp −$165	28.6 bp −$2,856	doesn't fit
Sell Phemex live order book, 4 min ago	1.89 bp	13.0 bp −$13	18.3 bp −$183	doesn't fit	doesn't fit

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 −0.0091% / S +0.0167%	1h	13.197	+0.004%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.202	+0.048%	$465K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.199	+0.022%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.032%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.187	−0.071%	$4K	$89K	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0038%	1h	13.196	−0.002%	$784K	$212K	50x	as long as short
Orderly PERP_LINK_USDC	+0.0069%	8h	13.193	−0.023%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.199	+0.022%	$2.0M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.247	+0.388%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.200	+0.027%	$405K	$307K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster LINKUSDT	+0.0100%	8h	13.202	+0.048%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.199	+0.020%	$277K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.196	+0.002%	$122.5M	$298.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.193	−0.023%	$85.0M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.193	−0.023%	$27.6M	$84.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.211	+0.114%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.198	+0.015%	$130.7M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.199	+0.023%	$36.7M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.200	+0.030%	$23.0M	$14.4M	75x	as long as short
Bitget LINKUSDTlong	+0.0100%	8h	13.196	long leg	$54.7M	$30.1M	75x
BingX LINK-USDC	+0.0100%	8h	13.200	+0.030%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.169	−0.202%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.174	−0.169%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	−0.092%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.180	−0.121%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.206	+0.076%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.191	−0.041%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.218	+0.166%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.183	−0.099%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.182	−0.104%	$650K	$867K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.196	+0.002%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.190	−0.042%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.188	−0.061%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0171%	1h	13.199	+0.023%	$365K	$361K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.176	−0.152%	$5.2M	$15.4M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.191	−0.038%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.196	+0.001%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0425%	1h	13.200	+0.030%	$350K	$48K	10x	as long as short
Phemex LINKUSDTshort	+0.0509%	8h	13.203	+0.053%	$20.4M	$11.5M	50x
Hyperliquid LINK	+0.0555%	1h	13.217	+0.159%	$81.6M	$25.0M	10x	as long as short