LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0070%/8h= +7.7% APRnext payment +$0.09 per $10,000 · paid last 24h −0.003%

Price spread now: Phoenix against gTrade (Gains Network)−0.064%63s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Phoenix

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

Funding pays, the price is against you. Phoenix is 0.064% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.064% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 3.0 days of funding at the current rate (+$2 a day). The two prices were read 63 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	gTrade (Gains Network) LINK/USD	12.893	L +0.0004% / S −0.0005%	pay 0.0001% / 1h	14m 17s	$155K	—	150x
Short	Phoenix LINK	12.884	0.0074	get 0.0009% / 1h	14m 17s	$3K	$85K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhoenixbpOrdersPrice spread, now −0.064%Rate

Funding earned: $14.69
Price spread: −0.064% → 0.000%: −$6.36
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$8.67
Costs to cover: 0.170%
Break-even: 11.1 days

Slippage unknown: gTrade (Gains Network): virtual book (oracle venue), 20 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 gTrade (Gains Network) virtual book (oracle venue), 20 min ago	130.05 bp	141.1 bp −$141	963.5 bp −$9,635	10292.4 bp −$1.03M	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
Orderly PERP_LINK_USDC	−0.0088%	8h	12.888	−0.035%	$90K	$1.0M	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.877	−0.121%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.885	−0.060%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USDlong	L +0.0004% / S −0.0005%	1h	12.893	long leg	$155K	—	150x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.820%	$4K	$48K	12x	as long as short
Phoenix LINKshort	+0.0074%	1h	12.884	−0.064%	$3K	$85K	10x
Lighter LINK	+0.0096%	1h	12.888	−0.035%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.892	−0.003%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.883	−0.078%	$348K	$336K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.901	+0.066%	$80.5M	$28.1M	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	12.894	+0.014%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.892	−0.005%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.895	+0.018%	$119.2M	$299.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.890	−0.019%	$83.4M	$73.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.895	+0.019%	$27.1M	$80.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.902	+0.074%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.890	−0.019%	$132.6M	$17.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.893	+0.004%	$34.5M	$58.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.889	−0.027%	$22.9M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.890	−0.019%	$53.9M	$30.2M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.891	−0.012%	—	$6.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.888	−0.035%	$335K	$386K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.871	−0.171%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.874	−0.147%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.868	−0.187%	$577K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.860	−0.252%	$132K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.894	+0.012%	$82K	$71K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.893	+0.001%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.905	+0.100%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.897	+0.035%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.833	−0.459%	$627K	$776K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.897	+0.036%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.890	−0.020%	$618K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.897	+0.035%	$541K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.878	−0.112%	$932K	$2.9M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.876	−0.128%	$5.2M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0316%	1h	12.904	+0.091%	$807K	$268K	50x	as long as short
Reya LINKRUSDPERP	+0.0401%	1h	12.868	−0.192%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0542%	8h	12.910	+0.136%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0606%	1h	12.891	−0.015%	$343K	$45K	10x	as long as short