LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0021%/8h= −2.3% APRnext payment −$0.03 per $10,000 · paid last 24h −0.021%

Price spread now: Phoenix against Injective+6.773%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−1.185%−$119 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 6.773% dearer against Injective than usual: you sell high and buy low (spread +6.773% now, against zero (this spread has no 7-day history yet)): +$677 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about years. At the pace of the last 7 days (−1.185% in total) that is about 40 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective LINK/USDC PERP	12.400	0.0033	pay 0.0004% / 1h	49m 56s	$4K	$48K	12x
Short	Phoenix LINK	13.240	0.0012	get 0.0002% / 1h	49m 56s	$4K	$84K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Injective. 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 InjectivebpFee PhoenixbpOrdersPrice spread, now +6.773%Rate

Funding earned: −$4.46
Price spread: +6.773% → 0.000%: $677.34
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $665.86
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; 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 Injective no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

Injective and 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 −0.0090% / S +0.0167%	1h	13.247	+6.832%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.247	+6.829%	$476K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.245	+6.815%	$726K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.248	+6.835%	$135K	—	150x	as long as short
Phoenix LINKshort	+0.0012%	1h	13.240	+6.773%	$4K	$84K	10x
Injective LINK/USDC PERPlong	+0.0033%	1h	12.400	long leg	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0041%	8h	13.241	+6.782%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.238	+6.759%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.257	+6.912%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.259	+6.927%	$406K	$313K	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	13.244	+6.807%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.258	+6.919%	$278K	$149K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.244	+6.806%	$123.3M	$303.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.238	+6.758%	$85.5M	$70.9M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.244	+6.806%	$28.0M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.266	+6.984%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.240	+6.774%	$131.2M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.246	+6.823%	$36.9M	$57.0M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.244	+6.806%	$22.6M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.242	+6.790%	$55.1M	$30.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.239	+6.766%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.238	+6.757%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.250	+6.855%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.248	+6.839%	$598K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.258	+6.919%	$154K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.257	+6.911%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.239	+6.762%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.265	+6.973%	$35K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.242	+6.790%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.239	+6.770%	$651K	$888K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.242	+6.790%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.245	+6.818%	$555K	$2K	3x	as long as short
dYdX LINK-USD	+0.0125%	1h	13.257	+6.908%	$351K	$48K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.244	+6.806%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.240	+6.774%	$5.3M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0286%	1h	13.254	+6.891%	$78.4M	$24.0M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0377%	1h	13.249	+6.847%	$366K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.248	+6.838%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0468%	8h	13.256	+6.903%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0474%	1h	13.247	+6.831%	$7.0M	$8.2M	50x	as long as short