LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0458%/8h= −50.1% APRnext payment −$4.58 per $10,000 · paid last 24h −0.076%

Price spread now: KuCoin against Phemex−0.132%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$420.425% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.319%−$32 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.132%, 7d avg −0.096%

Together, before fees−0.303%−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and KuCoin is 0.036% cheaper against Phemex than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.096%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.319% in total (about -16.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.58 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	Phemex LINKUSDT	12.865	0.0558	pay 0.0558% / 8h	35m 23s	$19.9M	$11.3M	50x
Short	KuCoin LINKUSDTM	12.848	0.0100	get 0.0100% / 8h	35m 23s	$22.7M	$12.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.132%Rate

Funding earned: −$96.18
Price spread: −0.132% → −0.096%: −$3.58
Slippage, 4 orders: −$18.5
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$142.25
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; KuCoin: live order book, 3 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, 4 min ago	0.77 bp	8.0 bp −$8	14.9 bp −$149	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	0.78 bp	8.9 bp −$9	16.5 bp −$165	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 −0.0087% / S +0.0165%	1h	12.845	−0.158%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0071%	8h	12.835	−0.233%	$90K	$1.1M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.870	+0.037%	$504K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.842	−0.182%	$154K	—	150x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0007%	1h	12.849	−0.125%	$804K	$268K	50x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.614%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0074%	1h	12.862	−0.023%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.848	−0.129%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.846	−0.148%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.842	−0.175%	$345K	$344K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid LINK	+0.0100%	1h	12.854	−0.086%	$80.3M	$28.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.848	−0.130%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.851	−0.111%	$273K	$183K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.842	−0.179%	$118.6M	$299.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.839	−0.202%	$83.1M	$73.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.841	−0.187%	$27.0M	$79.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.862	−0.023%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.844	−0.163%	$132.4M	$17.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.845	−0.155%	$34.4M	$58.2M	300x	as long as short
KuCoin LINKUSDTMshort	+0.0100%	8h	12.848	−0.132%	$22.7M	$12.2M	75x
Bitget LINKUSDT	+0.0100%	8h	12.841	−0.187%	$53.8M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.841	−0.187%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.865	0.000%	$334K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.851	−0.109%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.862	−0.024%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.887	+0.169%	$585K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.864	−0.008%	$132K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.848	−0.132%	$80K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.856	−0.069%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.856	−0.069%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.846	−0.148%	$10K	$62K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.845	−0.159%	$628K	$778K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0103%	1h	12.854	−0.087%	$6.4M	$8.5M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.839	−0.202%	$628K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.848	−0.135%	$539K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.875	+0.078%	$929K	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.851	−0.109%	$5.2M	$15.8M	75x	as long as short
Reya LINKRUSDPERP	+0.0400%	1h	12.841	−0.190%	$4K	—	20x	as long as short
Phemex LINKUSDTlong	+0.0558%	8h	12.865	long leg	$19.9M	$11.3M	50x
dYdX LINK-USD	+0.0578%	1h	12.852	−0.104%	$342K	$45K	10x	as long as short