LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0370%/8h= −40.5% APRnext payment −$3.70 per $10,000 · paid last 24h −0.076%

Price spread now: Bitget against Phemex−0.159%56s7-day average −0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.431% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.272%−$27 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.159%, 7d avg −0.119%

Together, before fees−0.256%−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Bitget is 0.040% cheaper against Phemex than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.119%). Swap the legs. The two prices were read 56 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	Phemex LINKUSDT	13.201	0.0470	pay 0.0470% / 8h	7h 08m	$20.4M	$11.5M	50x
Short	Bitget LINKUSDT	13.180	0.0100	get 0.0100% / 8h	7h 08m	$54.6M	$30.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phemex. 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 PhemexbpFee BitgetbpOrdersPrice spread, now −0.159%Rate

Funding earned: −$77.65
Price spread: −0.159% → −0.119%: −$3.99
Slippage, 4 orders: −$19.06
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$124.7
Costs to cover: 0.431%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Bitget: live order book, 6 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 Phemex live order book, 6 min ago	1.89 bp	12.4 bp −$12	16.5 bp −$165	doesn't fit	doesn't fit
Sell Bitget live order book, 6 min ago	0.38 bp	6.7 bp −$7	11.6 bp −$116	26.9 bp −$2,692	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	13.182	−0.142%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.201	+0.003%	$465K	$2.2M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.184	−0.127%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.068%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0036%	1h	13.187	−0.109%	$4K	$89K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0070%	8h	13.181	−0.152%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.178	−0.176%	$2.0M	$2.8M	10x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0099%	1h	13.189	−0.094%	$783K	$212K	50x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.228	+0.203%	$32K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.170	−0.231%	$404K	$307K	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	13.174	−0.201%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.179	−0.169%	$276K	$154K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.183	−0.136%	$122.4M	$298.0M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.181	−0.152%	$84.9M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.182	−0.144%	$27.6M	$83.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.194	−0.053%	$185K	$167K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.177	−0.182%	$130.4M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.182	−0.144%	$36.6M	$59.2M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.182	−0.144%	$23.0M	$14.4M	75x	as long as short
Bitget LINKUSDTshort	+0.0100%	8h	13.180	−0.159%	$54.6M	$30.1M	75x
BingX LINK-USDT	+0.0100%	8h	13.184	−0.129%	—	$22.4M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.169	−0.240%	$3.4M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.174	−0.207%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.184	−0.130%	$591K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.180	−0.159%	$153K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.185	−0.121%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.181	−0.153%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.195	−0.042%	$34K	$1.5M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.183	−0.136%	$14K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.182	−0.146%	$649K	$867K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.179	−0.166%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.183	−0.139%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.178	−0.174%	$1.0M	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0170%	1h	13.194	−0.053%	$365K	$361K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.170	−0.235%	$5.2M	$15.5M	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.194	−0.052%	$6.9M	$8.0M	50x	as long as short
Reya LINKRUSDPERP	+0.0382%	1h	13.179	−0.166%	$5K	—	20x	as long as short
dYdX LINK-USD	+0.0425%	1h	13.176	−0.189%	$349K	$48K	10x	as long as short
Phemex LINKUSDTlong	+0.0470%	8h	13.201	long leg	$20.4M	$11.5M	50x
Hyperliquid LINK	+0.0550%	1h	13.198	−0.023%	$81.5M	$25.0M	10x	as long as short