Settings8H · net · $10k
Funding arb · Price arb /

LINK

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Alert: funding
Alert: spread
Funding you earn now, next payment 08:00 UTC+0.0507%/8h= +55.5% APRnext payment +$5.07 per $10,000 · paid last 24h +0.082%
Price spread now: Phemex against Orderly+0.170%7-day average +0.073% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 7 days+0.248%+$25 on $10k
Price spread, last 4 days (all we have)−0.097%−$10 · spread now +0.170%, 7d avg +0.073%
Together, before fees+0.150%+$15 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Phemex is 0.097% dearer against Orderly than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.073%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.248% in total (about 12.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.07 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOrderly PERP_LINK_USDC12.9430.0049pay 0.0049% / 8h3h 27m$117K$1.1M20x
ShortPhemex LINKUSDT12.9650.0556get 0.0556% / 8h3h 27m$20.0M$11.3M50x

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

Funding earned
$106.37
Price spread: +0.170% → +0.073%
$9.65
Slippage, 4 orders
no order book: not counted
Fee Orderly: 3 bp × 2 orders
−$6
Fee Phemex: 6 bp × 2 orders
−$12
Net
$98.03
Costs to cover
0.180%
Break-even
0.5 days
Slippage unknown: Orderly: no order-book sample; Phemex: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Orderly no order-book sample
Sell Phemex live order book, 2 min ago1.54 bp12.7 bp −$1317.1 bp −$171doesn't fitdoesn'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 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX LINK/USD [LINK-USDC]L −0.0089% / S +0.0166%1h12.949+0.044%$1.8M200xas long as short
Kalshi KXLINKPERP0.0000%8h12.961+0.141%$493K$2.3M3.7xas long as short
gTrade (Gains Network) LINK/USDL +0.0004% / S −0.0006%1h12.949+0.049%$185K150xas long as short
Injective LINK/USDC PERP+0.0033%1h12.400−4.195%$4K$48K12xas long as short
Orderly PERP_LINK_USDClong+0.0049%8h12.943long leg$117K$1.1M20x
Phoenix LINK+0.0074%1h12.990+0.362%$3K$82K10xas long as short
Lighter LINK+0.0096%1h12.948+0.038%$1.9M$2.8M10xas long as short
Paradex LINK-USD-PERP+0.0100%8h12.955+0.094%$31K$2K20xas long as short
Nado LINK-PERP+0.0100%1h12.953+0.077%$391K$308K10xas long as short
Aster LINKUSDT+0.0100%8h12.949+0.043%$1.2M$2.4M50xas long as short
Show all 40 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Pacifica LINK+0.0100%1h12.958+0.114%$276K$181K10xas long as short
Binance LINKUSDT+0.0100%8h12.948+0.039%$120.2M$300.0M75xas long as short
Bybit LINKUSDT+0.0100%8h12.946+0.023%$83.7M$72.4M75xas long as short
OKX LINK-USDT-SWAP+0.0100%8h12.947+0.031%$27.4M$81.3M50xas long as short
Arcus LINK-USD+0.0100%1h12.972+0.224%$181K$167K10xas long as short
Gate LINK_USDT+0.0100%8h12.952+0.070%$128.3M$12.9M75xas long as short
MEXC LINK_USDT+0.0100%8h12.947+0.031%$32.6M$56.8M300xas long as short
KuCoin LINKUSDTM+0.0100%8h12.952+0.070%$22.7M$13.4M75xas long as short
Bitget LINKUSDT+0.0100%8h12.947+0.031%$54.0M$29.5M75xas long as short
BingX LINK-USDC+0.0100%8h12.947+0.031%$6.6Mas long as short
Backpack LINK_USDC_PERP+0.0100%1h12.968+0.193%$341K$390K15xas long as short
Variational Omni LINK+0.0100%8h13.006+0.488%$3.4M$1.6Mas long as short
edgeX LINKUSDC+0.0100%4h12.981+0.290%$43K$305K20xas long as short
GRVT LINK_USDT_Perp+0.0100%8h12.976+0.255%$591K$2.8M10xas long as short
ApeX Omni LINKUSDT+0.0100%1h12.997+0.417%$133K$674K50xas long as short
Polymarket Perps LINK-USD+0.0100%1h12.960+0.131%$81K$70K10xas long as short
Derive LINK-PERP+0.0100%1h12.944+0.006%$16K$22K10xas long as short
SunX LINK-USDT+0.0100%8h12.966+0.178%$33K$1.5M30xas long as short
SoDEX LINK-USD+0.0100%1h12.948+0.039%$12K$63K10xas long as short
HTX LINK-USDT+0.0100%8h12.935−0.062%$635K$694K75xas long as short
Extended LINK-USD+0.0104%1h12.941−0.017%$631K$2.0M25xas long as short
Aevo LINK-PERP+0.0104%1h12.948+0.042%$543K$2K3xas long as short
Coinbase International LINK-PERP-INTX+0.0104%1h12.975+0.247%$924K$2.7M50xas long as short
Deribit LINK_USDC-PERPETUAL+0.0105%1h12.950+0.053%$786K$210K50xas long as short
BloFin LINK-USDT+0.0220%8h12.951+0.062%$5.3M$15.7M75xas long as short
Kraken Futures PF_LINKUSD+0.0244%1h12.952+0.072%$6.7M$8.1M50xas long as short
Hyperliquid LINK+0.0336%1h12.968+0.193%$81.0M$27.5M10xas long as short
Reya LINKRUSDPERP+0.0392%1h12.950+0.056%$4K20xas long as short
Phemex LINKUSDTshort+0.0556%8h12.965+0.170%$20.0M$11.3M50x
dYdX LINK-USD+0.0757%1h12.955+0.096%$344K$31K10xas long as short