LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC+0.0541%/8h= +59.2% APRnext payment +$5.41 per $10,000 · paid last 24h +0.131%

Price spread now: Phemex against Orderly+0.100%7-day average +0.079% · you sell dearer than you buy

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

Long on Orderly Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.312%+$31 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now +0.100%, 7d avg +0.079%

Together, before fees+0.325%+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Phemex is 0.021% dearer against Orderly than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.079%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.312% in total (about 16.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.41 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	Orderly PERP_LINK_USDC	13.002	−0.0134	get 0.0134% / 8h	6h 57m	$90K	$908K	20x
Short	Phemex LINKUSDT	13.015	0.0406	get 0.0406% / 8h	6h 57m	$20.1M	$11.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Orderly. 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 OrderlybpFee PhemexbpOrdersPrice spread, now +0.100%Rate

Funding earned: $113.56
Price spread: +0.100% → +0.079%: $2.11
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: $97.67
Costs to cover: 0.180%
Break-even: 1.0 days

Slippage unknown: Orderly: no order-book sample; Phemex: live order book, 6 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	1.53 bp	11.1 bp −$11	15.4 bp −$154	doesn't fit	doesn't fit

Orderly: 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 39 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_USDClong	−0.0134%	8h	13.002	long leg	$90K	$908K	20x
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	13.056	+0.417%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.026	+0.183%	$499K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	13.046	+0.341%	$107K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.630%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0044%	1h	13.003	+0.008%	$6.5M	$8.3M	50x	as long as short
Phoenix LINK	+0.0087%	1h	13.051	+0.379%	$3K	$84K	10x	as long as short
Lighter LINK	+0.0096%	1h	13.005	+0.023%	$1.9M	$2.3M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.002	+0.004%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.005	+0.023%	$350K	$312K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	13.006	+0.031%	$81.2M	$27.6M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.001	−0.011%	$1.3M	$2.5M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.009	+0.054%	$277K	$167K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.994	−0.062%	$120.4M	$286.8M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.994	−0.062%	$84.1M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.996	−0.046%	$27.2M	$77.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.025	+0.177%	$182K	$86K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.994	−0.062%	$134.4M	$17.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.993	−0.069%	$35.9M	$56.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.995	−0.054%	$23.1M	$12.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.991	−0.085%	$54.4M	$28.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.995	−0.054%	—	$22.8M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.003	+0.008%	$338K	$369K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.038	+0.278%	$3.4M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.049	+0.365%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.050	+0.367%	$593K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.058	+0.431%	$134K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.014	+0.092%	$83K	$70K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.014	+0.089%	$34K	$1.3M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.000	−0.015%	$12K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.998	−0.029%	$624K	$689K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.990	−0.089%	$621K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.006	+0.033%	$545K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0208%	1h	13.007	+0.038%	$941K	$3.3M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.013	+0.085%	$5.3M	$15.9M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0334%	1h	13.013	+0.085%	$874K	$331K	50x	as long as short
Reya LINKRUSDPERP	+0.0405%	1h	13.012	+0.074%	$4K	—	20x	as long as short
Phemex LINKUSDTshort	+0.0406%	8h	13.015	+0.100%	$20.1M	$11.0M	50x
dYdX LINK-USD	+0.1647%	1h	13.008	+0.046%	$350K	$48K	10x	as long as short