LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0372%/8h= +40.7% APRnext payment +$3.72 per $10,000 · paid last 24h +0.065%

Price spread now: Phemex against HTX+0.079%7-day average +0.175% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$700.697% of the position

Long on HTX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 3 days (all we have)+0.097%+$10 · spread now +0.079%, 7d avg +0.175%

Together, before fees+0.299%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.095% cheaper against HTX than usual: you would sell low and buy high (spread +0.079% now, against its 7-day average of +0.175%). If the spread goes back, that is −$10 on $10k: about 21 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.202% in total) that is about 3.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.202% in total (about 10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.72 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	HTX LINK-USDT	13.229	0.0100	pay 0.0100% / 8h	42m 33s	$651K	$888K	75x
Short	Phemex LINKUSDT	13.240	0.0472	get 0.0472% / 8h	42m 33s	$20.5M	$11.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against HTX. 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 HTXbpFee PhemexbpOrdersPrice spread, now +0.079%Rate

Funding earned: $78.03
Price spread: +0.079% → +0.175%: −$9.54
Slippage, 4 orders: −$45.65
Fee HTX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$1.17
Costs to cover: 0.697%
Break-even: 7.1 days

Slippage from HTX: live order book, 36 min ago; Phemex: live order book, 1 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 HTX live order book, 36 min ago	18.77 bp	24.9 bp −$25	41.7 bp −$417	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	1.88 bp	9.7 bp −$10	14.8 bp −$148	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	13.207	−0.169%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.245	+0.114%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.228	−0.014%	$725K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.208	−0.165%	$134K	—	150x	as long as short
Phoenix LINK	+0.0012%	1h	13.267	+0.286%	$4K	$84K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.270%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.226	−0.026%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.212	−0.129%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.210	−0.148%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.211	−0.140%	$405K	$311K	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	13.217	−0.094%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.217	−0.096%	$277K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.209	−0.155%	$123.0M	$303.9M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.208	−0.163%	$85.3M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.212	−0.132%	$27.9M	$85.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.230	+0.004%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.211	−0.140%	$130.9M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.209	−0.155%	$36.8M	$57.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.215	−0.110%	$22.6M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.207	−0.170%	$55.0M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.208	−0.163%	—	$21.3M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.249	+0.146%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.246	+0.126%	$44K	$310K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.251	+0.164%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.250	+0.155%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.214	−0.117%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.223	−0.046%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.240	+0.080%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.219	−0.079%	$5K	$36K	10x	as long as short
HTX LINK-USDTlong	+0.0100%	8h	13.229	long leg	$651K	$888K	75x
Extended LINK-USD	+0.0104%	1h	13.208	−0.161%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.228	−0.008%	$555K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.242	+0.094%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.229	−0.004%	$5.3M	$17.3M	75x	as long as short
dYdX LINK-USD	+0.0232%	1h	13.216	−0.101%	$350K	$48K	10x	as long as short
Hyperliquid LINK	+0.0292%	1h	13.226	−0.026%	$78.3M	$24.0M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0348%	1h	13.229	−0.004%	$365K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.207	−0.167%	$5K	—	20x	as long as short
Phemex LINKUSDTshort	+0.0472%	8h	13.240	+0.079%	$20.5M	$11.5M	50x
Kraken Futures PF_LINKUSD	+0.0475%	1h	13.227	−0.020%	$7.0M	$8.2M	50x	as long as short