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Price arb /

LINK

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Spread before costs (cost unknown: a leg has no order-book sample)−0.068%
7d average—if it closes, per $10,000$7funding while held, a day+$2.65
Long on PhoenixShort on MEXC
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix LINK12.947−0.0061get 0.0008% / 1h18m 34s$3K$49K10x
ShortMEXC LINK_USDT12.9380.0027get 0.0027% / 8h7h 18m$32.8M$57.8M300x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$6.8
Funding while held
$2.65
Slippage, 4 orders
no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee MEXC: 0 bp × 2 orders
$0
Net
−$11.14
Spread needed to break even
0.070%
Slippage unknown: Phoenix: no order-book sample; MEXC: live order book, 2 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0088%
Per $10,000 a day
+$2.65
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix no order-book sample—————
Sell MEXC live order book, 2 min ago0.39 bp0.6 bp −$14.1 bp −$4123.7 bp −$2,37442.2 bp −$21.1K
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 price on every exchange

against the cheapest. Click to use as the short leg.
Injective12.400cheapestHTX12.848+3.612%Derive12.905+4.070%Orderly12.906+4.081%SoDEX12.906+4.081%BloFin12.908+4.097%Coinbase International12.910+4.113%Aevo12.911+4.121%Reya12.913+4.141%gTrade (Gains Network)12.914+4.144%Kraken Futures12.915+4.152%GMX12.915+4.155%Nado12.916+4.161%Deribit12.916+4.162%Polymarket Perps12.918+4.177%SunX12.920+4.192%Kalshi12.922+4.213%Aster12.925+4.237%Phemex12.927+4.250%Backpack12.930+4.274%Lighter12.930+4.276%OKX12.931+4.282%Gate12.931+4.282%KuCoin12.931+4.282%BingX12.931+4.282%Extended12.931+4.283%Bybit12.932+4.290%Bitget12.932+4.290%Pacifica12.933+4.298%Paradex12.934+4.304%Hyperliquid12.938+4.339%Binance12.938+4.339%
MEXC12.938+4.339%
dYdX12.944+4.389%Arcus12.946+4.403%
Phoenix12.947+4.410%
ApeX Omni12.953+4.460%Variational Omni12.954+4.467%edgeX12.967+4.575%

LINK on 39 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective LINK/USDC PERP−4.223%+0.0033%1h$4K$75K12xas long as short
HTX LINK-USDT−0.764%−0.0047%8h$631K$977K75xas long as short
Derive LINK-PERP−0.326%+0.0100%1h$28K$10K10xas long as short
Orderly PERP_LINK_USDC−0.315%+0.0078%8h$142K$1.7M20xas long as short
SoDEX LINK-USD−0.315%−0.0131%1h$8K$38K10xas long as short
BloFin LINK-USDT−0.300%+0.0110%8h$5.2M$13.0M75xas long as short
Coinbase International LINK-PERP-INTX−0.284%+0.0072%1h$998K$2.6M50xas long as short
Aevo LINK-PERP−0.277%+0.0088%1h$543K$3403xas long as short
Reya LINKRUSDPERP−0.258%+0.0360%1h$4K$40020xas long as short
gTrade (Gains Network) LINK/USD−0.255%L +0.0004% / S −0.0008%1h$189K—150xas long as short
Show all 39 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Kraken Futures PF_LINKUSD−0.247%−0.0389%1h$6.0M$6.8M50xas long as short
GMX LINK/USD [LINK-USDC]−0.244%L −0.0089% / S +0.0161%1h$1.7M—200xas long as short
Nado LINK-PERP−0.238%+0.0100%1h$425K$350K10xas long as short
Deribit LINK_USDC-PERPETUAL−0.237%0.0000%1h$690K$85K50xas long as short
Polymarket Perps LINK-USD−0.222%+0.0100%1h$78K$51K10xas long as short
SunX LINK-USDT−0.209%+0.0100%8h$33K$1.6M30xas long as short
Kalshi KXLINKPERP−0.188%0.0000%8h$456K$2.2M3.7xas long as short
Aster LINKUSDT−0.166%+0.0100%8h$1.4M$2.4M50xas long as short
Phemex LINKUSDT−0.153%+0.0614%8h$20.1M$11.2M50xas long as short
Backpack LINK_USDC_PERP−0.130%+0.0100%1h$361K$369K15xas long as short
Lighter LINK−0.128%+0.0096%1h$1.9M$2.0M10xas long as short
OKX LINK-USDT-SWAP−0.122%−0.0012%8h$27.0M$90.9M50xas long as short
Gate LINK_USDT−0.122%+0.0037%8h$130.5M$12.0M75xas long as short
KuCoin LINKUSDTM−0.122%+0.0100%8h$21.3M$17.1M75xas long as short
BingX LINK-USDC−0.122%+0.0100%8h—$6.6M—as long as short
Extended LINK-USD−0.121%−0.0056%1h$672K$1.8M25xas long as short
Bybit LINKUSDT−0.114%−0.0019%8h$80.1M$59.5M75xas long as short
Bitget LINKUSDT−0.114%+0.0100%8h$53.7M$30.0M75xas long as short
Pacifica LINK−0.107%+0.0100%1h$270K$165K10xas long as short
Paradex LINK-USD-PERP−0.101%+0.0040%8h$31K$2K20xas long as short
Hyperliquid LINK−0.068%+0.0100%1h$76.3M$22.0M10xas long as short
Binance LINKUSDT−0.068%+0.0025%8h$118.5M$289.2M75xas long as short
MEXC LINK_USDTshort−0.068%+0.0027%8h$32.8M$57.8M300x
dYdX LINK-USD−0.020%+0.0030%1h$343K$60K10xas long as short
Arcus LINK-USD−0.006%+0.0100%1h$182K$192K10xas long as short
Phoenix LINKlong0.000%−0.0061%1h$3K$49K10x
ApeX Omni LINKUSDT+0.048%+0.0100%1h$131K$655K50xas long as short
Variational Omni LINK+0.055%−0.0064%8h$3.2M$1.2M—as long as short
edgeX LINKUSDC+0.158%+0.0100%4h$43K$310K20xas long as short