LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0021%/8h= +2.3% APRnext payment +$0.03 per $10,000 · paid last 24h +0.021%

Price spread now: Injective against Phoenix−6.344%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+1.185%+$119 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 6.344% cheaper against Phoenix than usual: you would sell low and buy high (spread −6.344% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$634 on $10k: about years of funding at the current rate (+$1 a day). At the pace of the last 7 days (+1.185% in total) that is about 37 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix LINK	13.240	0.0012	pay 0.0002% / 1h	47m 47s	$4K	$84K	10x
Short	Injective LINK/USDC PERP	12.400	0.0033	get 0.0004% / 1h	47m 47s	$4K	$48K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −6.344%Rate

Funding earned: $4.46
Price spread: −6.344% → 0.000%: −$634.37
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$636.93
Costs to cover: 0.070%
Break-even: 1006.7 days

Slippage unknown: Phoenix: no order-book sample; Injective: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—

Phoenix and Injective: 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 −0.0090% / S +0.0167%	1h	13.237	−0.022%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.231	−0.069%	$475K	$2.4M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.240	0.000%	$726K	$128K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0007%	1h	13.237	−0.025%	$135K	—	150x	as long as short
Phoenix LINKlong	+0.0012%	1h	13.240	long leg	$4K	$84K	10x
Injective LINK/USDC PERPshort	+0.0033%	1h	12.400	−6.344%	$4K	$48K	12x
Orderly PERP_LINK_USDC	+0.0041%	8h	13.237	−0.022%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.236	−0.033%	$2.0M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.236	−0.028%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.245	+0.039%	$406K	$311K	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	13.237	−0.020%	$1.4M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.244	+0.030%	$278K	$150K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.234	−0.045%	$123.3M	$303.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.231	−0.067%	$85.4M	$71.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.235	−0.037%	$27.9M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.255	+0.114%	$186K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.234	−0.045%	$131.1M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.238	−0.014%	$36.8M	$57.1M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.241	+0.008%	$22.7M	$15.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.232	−0.060%	$55.1M	$30.5M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.235	−0.037%	—	$21.2M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.238	−0.016%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.245	+0.038%	$44K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.244	+0.029%	$599K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.251	+0.084%	$154K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.242	+0.016%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.233	−0.051%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.251	+0.080%	$35K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.236	−0.029%	$5K	$36K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.229	−0.081%	$651K	$888K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.228	−0.089%	$670K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.239	−0.004%	$555K	$2K	3x	as long as short
dYdX LINK-USD	+0.0152%	1h	13.239	−0.006%	$351K	$48K	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	13.233	−0.052%	$1.0M	$2.8M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.236	−0.029%	$5.2M	$17.3M	75x	as long as short
Hyperliquid LINK	+0.0289%	1h	13.251	+0.084%	$78.4M	$24.0M	10x	as long as short
Backpack LINK_USDC_PERP	+0.0364%	1h	13.247	+0.054%	$366K	$379K	15x	as long as short
Reya LINKRUSDPERP	+0.0378%	1h	13.236	−0.031%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0463%	8h	13.252	+0.091%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0474%	1h	13.242	+0.018%	$7.0M	$8.2M	50x	as long as short