LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0012%/8h= −1.3% APRnext payment −$0.02 per $10,000 · paid last 24h +0.011%

Price spread now: Deribit against Phoenix+0.065%70s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 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. Deribit is 0.065% dearer against Phoenix than usual: you sell high and buy low (spread +0.065% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 18 days. At the pace of the last 7 days (0.000% in total) that is about years. The two prices were read 70 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	Phoenix LINK	13.172	0.0012	pay 0.0002% / 1h	56m 13s	$4K	$89K	10x
Short	Deribit LINK_USDC-PERPETUAL	13.181	0	get 0.0000% / 1h	56m 13s	$743K	$152K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Phoenix. 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 PhoenixbpFee DeribitbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$2.54
Price spread: +0.065% → 0.000%: $6.53
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$10.01
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Deribit: live order book, 18 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 Phoenix no order-book sample	—	—	—	—	—
Sell Deribit live order book, 18 min ago	1.91 bp	10.4 bp −$10	18.1 bp −$181	doesn't fit	doesn't fit

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 −0.0091% / S +0.0167%	1h	13.171	−0.008%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.164	−0.062%	$481K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUALshort	0.0000%	1h	13.181	+0.065%	$743K	$152K	50x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.173	+0.004%	$134K	—	150x	as long as short
Phoenix LINKlong	+0.0012%	1h	13.172	long leg	$4K	$89K	10x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.862%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0043%	8h	13.176	+0.029%	$133K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.181	+0.067%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.174	+0.013%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.173	+0.006%	$403K	$312K	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	13.177	+0.036%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.181	+0.064%	$277K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.185	+0.096%	$122.5M	$306.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.183	+0.082%	$85.2M	$71.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.185	+0.097%	$27.9M	$86.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.190	+0.135%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.169	−0.024%	$130.6M	$12.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.170	−0.017%	$36.7M	$57.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.178	+0.044%	$22.8M	$15.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.175	+0.021%	$54.8M	$30.7M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.171	−0.009%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.175	+0.019%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.179	+0.049%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.183	+0.084%	$597K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.185	+0.097%	$153K	$668K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.178	+0.044%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.175	+0.019%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.194	+0.164%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.181	+0.067%	$5K	$32K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.168	−0.034%	$648K	$875K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.174	+0.012%	$740K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.182	+0.074%	$553K	$2K	3x	as long as short
Phemex LINKUSDT	+0.0105%	8h	13.193	+0.158%	$20.4M	$11.6M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.179	+0.052%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.192	+0.150%	$5.2M	$16.7M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0273%	1h	13.185	+0.097%	$364K	$374K	15x	as long as short
Kraken Futures PF_LINKUSD	+0.0364%	1h	13.191	+0.144%	$6.9M	$8.3M	50x	as long as short
Reya LINKRUSDPERP	+0.0380%	1h	13.166	−0.049%	$5K	—	20x	as long as short
Hyperliquid LINK	+0.0451%	1h	13.193	+0.158%	$79.2M	$24.5M	10x	as long as short
dYdX LINK-USD	+0.0537%	1h	13.176	+0.031%	$349K	$48K	10x	as long as short