LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0395%/8h= +43.3% APRnext payment +$0.49 per $10,000 · paid last 24h +0.110%

Price spread now: Reya against Phoenix−0.329%59s7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.329% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.329% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$33 on $10k: about 2.8 days of funding at the current rate (+$12 a day). The two prices were read 59 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	13.010	0.0012	pay 0.0002% / 1h	56m 09s	$3K	$81K	10x
Short	Reya LINKRUSDPERP	12.967	0.0407	get 0.0051% / 1h	56m 09s	$4K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.329%Rate

Funding earned: $82.99
Price spread: −0.329% → 0.000%: −$32.87
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Reya: 3 bp × 2 orders: −$6
Net: $37.12
Costs to cover: 0.130%
Break-even: 3.9 days

Slippage unknown: Phoenix: no order-book sample; Reya: 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 Reya no order-book sample	—	—	—	—	—

Phoenix and Reya: 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 39 exchanges

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
Orderly PERP_LINK_USDC	−0.0191%	8h	12.962	−0.367%	$85K	$876K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.972	−0.291%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.988	−0.164%	$489K	$2.1M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0001%	1h	12.986	−0.178%	$115K	—	150x	as long as short
Phoenix LINKlong	+0.0012%	1h	13.010	long leg	$3K	$81K	10x
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.687%	$4K	$48K	12x	as long as short
HTX LINK-USDT	+0.0087%	8h	12.965	−0.347%	$608K	$677K	75x	as long as short
Lighter LINK	+0.0096%	1h	12.972	−0.286%	$1.9M	$2.3M	10x	as long as short
Variational Omni LINK	+0.0097%	8h	12.977	−0.248%	$3.4M	$1.8M	—	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.977	−0.248%	$31K	$600	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.976	−0.255%	$349K	$279K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.984	−0.198%	$81.7M	$25.4M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.979	−0.239%	$1.4M	$2.5M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.986	−0.184%	$275K	$153K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.970	−0.305%	$120.3M	$268.3M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.968	−0.321%	$83.9M	$66.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.971	−0.297%	$27.4M	$74.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.997	−0.098%	$183K	$83K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.972	−0.290%	$134.1M	$17.1M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.970	−0.305%	$35.6M	$54.4M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.976	−0.259%	$22.9M	$11.8M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.976	−0.259%	$54.3M	$26.4M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.973	−0.282%	—	$6.5M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.978	−0.244%	$335K	$352K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.982	−0.216%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.996	−0.106%	$583K	$3.1M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.998	−0.090%	$132K	$669K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.980	−0.228%	$83K	$64K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.999	−0.081%	$34K	$1.2M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.971	−0.297%	$11K	$61K	10x	as long as short
Extended LINK-USD	+0.0104%	1h	12.965	−0.342%	$628K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.972	−0.294%	$544K	$2K	3x	as long as short
Kraken Futures PF_LINKUSD	+0.0173%	1h	12.974	−0.275%	$6.5M	$7.4M	50x	as long as short
Coinbase International LINK-PERP-INTX	+0.0200%	1h	13.000	−0.075%	$977K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.987	−0.174%	$5.4M	$15.3M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0267%	1h	12.978	−0.241%	$889K	$355K	50x	as long as short
Reya LINKRUSDPERPshort	+0.0407%	1h	12.967	−0.329%	$4K	—	20x
Phemex LINKUSDT	+0.0434%	8h	12.987	−0.174%	$20.1M	$10.2M	50x	as long as short
dYdX LINK-USD	+0.0612%	1h	12.993	−0.129%	$349K	$46K	10x	as long as short