LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0296%/8h= +32.4% APRnext payment +$0.37 per $10,000 · paid last 24h +0.058%

Price spread now: Kraken Futures against Phoenix−0.084%71s7-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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.230%+$23 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. Kraken Futures is 0.084% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.084% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 23 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.230% in total) that is about 2.6 days. The two prices were read 71 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	12.961	0.0099	pay 0.0012% / 1h	20m 14s	$3K	$84K	10x
Short	Kraken Futures PF_LINKUSD	12.950	0.0394	get 0.0049% / 1h	20m 14s	$6.7M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.084%Rate

Funding earned: $62.08
Price spread: −0.084% → 0.000%: −$8.44
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $36.63
Costs to cover: 0.170%
Break-even: 2.9 days

Slippage unknown: Phoenix: no order-book sample; Kraken Futures: live order book, 4 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 Kraken Futures live order book, 4 min ago	4.24 bp	10.4 bp −$10	12.4 bp −$124	46.0 bp −$4,604	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 −0.0090% / S +0.0167%	1h	12.946	−0.110%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.951	−0.078%	$520K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0009%	1h	12.947	−0.110%	$159K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.327%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0057%	8h	12.944	−0.130%	$117K	$1.3M	20x	as long as short
Lighter LINK	+0.0096%	1h	12.947	−0.103%	$1.9M	$2.8M	10x	as long as short
Coinbase International LINK-PERP-INTX	+0.0096%	1h	12.955	−0.045%	$942K	$2.7M	50x	as long as short
Phoenix LINKlong	+0.0099%	1h	12.961	long leg	$3K	$84K	10x
Paradex LINK-USD-PERP	+0.0100%	8h	12.955	−0.045%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.950	−0.079%	$391K	$310K	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	12.948	−0.096%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.956	−0.037%	$274K	$176K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.948	−0.102%	$119.8M	$297.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.944	−0.130%	$83.5M	$72.0M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.945	−0.122%	$27.3M	$81.2M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.969	+0.063%	$181K	$166K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.943	−0.137%	$128.0M	$13.0M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.947	−0.106%	$32.7M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.950	−0.083%	$22.7M	$13.4M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.948	−0.099%	$53.8M	$29.5M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.945	−0.122%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.954	−0.052%	$339K	$387K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.939	−0.167%	$3.3M	$1.7M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.960	−0.008%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.961	+0.001%	$592K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.975	+0.110%	$133K	$673K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.950	−0.083%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.943	−0.135%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.967	+0.051%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.946	−0.114%	$11K	$63K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.907	−0.414%	$633K	$693K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.941	−0.156%	$632K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.948	−0.095%	$543K	$2K	3x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0129%	1h	12.951	−0.079%	$779K	$202K	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.949	−0.091%	$5.2M	$15.7M	75x	as long as short
Hyperliquid LINK	+0.0369%	1h	12.961	+0.002%	$81.1M	$27.4M	10x	as long as short
Reya LINKRUSDPERP	+0.0390%	1h	12.941	−0.150%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSDshort	+0.0394%	1h	12.950	−0.084%	$6.7M	$8.1M	50x
dYdX LINK-USD	+0.0427%	1h	12.954	−0.053%	$343K	$30K	10x	as long as short
Phemex LINKUSDT	+0.0533%	8h	12.961	+0.002%	$20.0M	$11.4M	50x	as long as short