LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.04 per $10,000 · paid last 24h −0.027%

Price spread now: Phoenix against Coinbase International+0.224%72s7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.159%−$16 on $10k

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. Phoenix is 0.224% dearer against Coinbase International than usual: you sell high and buy low (spread +0.224% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 25 days. At the pace of the last 7 days (−0.159% in total) that is about 9.9 days. The two prices were read 72 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	Coinbase International LINK-PERP-INTX	12.893	0.0104	pay 0.0013% / 1h	1m 31s	$918K	$2.8M	50x
Short	Phoenix LINK	12.922	0.0074	get 0.0009% / 1h	1m 31s	$3K	$82K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Coinbase International. 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 Coinbase InternationalbpFee PhoenixbpOrdersPrice spread, now +0.224%Rate

Funding earned: −$6.33
Price spread: +0.224% → 0.000%: $22.42
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$0.92
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Coinbase International: live order book, 2 min ago; Phoenix: 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 Coinbase International live order book, 2 min ago	2.71 bp	12.9 bp −$13	17.2 bp −$172	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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	12.884	−0.071%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.896	+0.022%	$483K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	12.884	−0.069%	$184K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.824%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0053%	8h	12.881	−0.093%	$115K	$1.1M	20x	as long as short
Phoenix LINKshort	+0.0074%	1h	12.922	+0.224%	$3K	$82K	10x
Lighter LINK	+0.0096%	1h	12.888	−0.039%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.888	−0.039%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.883	−0.074%	$389K	$309K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.893	+0.002%	$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	12.890	−0.020%	$276K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.895	+0.016%	$119.5M	$300.5M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.893	0.000%	$83.3M	$73.4M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.892	−0.008%	$27.3M	$80.4M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.909	+0.124%	$180K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.885	−0.062%	$124.3M	$14.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.889	−0.031%	$33.0M	$57.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.893	0.000%	$22.7M	$13.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.893	0.000%	$54.0M	$29.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.892	−0.008%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.889	−0.031%	$338K	$392K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.916	+0.180%	$3.3M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.900	+0.051%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.914	+0.165%	$580K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.896	+0.023%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.890	−0.023%	$81K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.881	−0.089%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.896	+0.025%	$33K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.886	−0.054%	$9K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.876	−0.132%	$632K	$677K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.889	−0.034%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.886	−0.050%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTXlong	+0.0104%	1h	12.893	long leg	$918K	$2.8M	50x
Deribit LINK_USDC-PERPETUAL	+0.0161%	1h	12.890	−0.026%	$788K	$215K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.895	+0.016%	$5.2M	$15.7M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0246%	1h	12.888	−0.038%	$6.6M	$8.2M	50x	as long as short
Hyperliquid LINK	+0.0297%	1h	12.898	+0.039%	$80.5M	$27.5M	10x	as long as short
Reya LINKRUSDPERP	+0.0393%	1h	12.883	−0.078%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0569%	8h	12.904	+0.085%	$19.9M	$11.2M	50x	as long as short
dYdX LINK-USD	+0.0785%	1h	12.884	−0.070%	$342K	$32K	10x	as long as short