LINK

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0026%/8h= −2.8% APRnext payment −$0.03 per $10,000 · paid last 24h −0.019%

Price spread now: Phoenix against SoDEX−0.214%70s7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.214% cheaper against SoDEX than usual: you would sell low and buy high (−$21 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. 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	SoDEX LINK-USD	12.870	0.0100	pay 0.0013% / 1h	17m 55s	$10K	$62K	10x
Short	Phoenix LINK	12.842	0.0074	get 0.0009% / 1h	17m 55s	$3K	$85K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SoDEX. 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 SoDEXbpFee PhoenixbpOrdersPrice spread, now −0.214%Rate

Funding earned: −$5.4
Price spread: −0.214% → 0.000%: −$21.37
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$41.76
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Phoenix: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

SoDEX and 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 −0.0087% / S +0.0165%	1h	12.866	−0.028%	$1.7M	—	200x	as long as short
Orderly PERP_LINK_USDC	−0.0085%	8h	12.859	−0.085%	$90K	$1.0M	20x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.870	+0.002%	$503K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.867	−0.024%	$154K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.652%	$4K	$48K	12x	as long as short
Phoenix LINKshort	+0.0074%	1h	12.842	−0.214%	$3K	$85K	10x
Lighter LINK	+0.0096%	1h	12.867	−0.027%	$1.9M	$2.9M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.870	−0.001%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.864	−0.047%	$346K	$342K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.878	+0.062%	$80.4M	$28.1M	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	12.871	+0.008%	$1.2M	$2.4M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.869	−0.009%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.870	0.000%	$119.0M	$299.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.863	−0.054%	$83.2M	$73.2M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.870	0.000%	$27.0M	$80.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.883	+0.101%	$180K	$99K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.868	−0.016%	$132.3M	$17.8M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.870	0.000%	$34.5M	$58.6M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.873	+0.023%	$22.9M	$12.3M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.864	−0.047%	$53.7M	$30.2M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.866	−0.031%	—	$23.3M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.875	+0.039%	$334K	$386K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.823	−0.363%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.838	−0.248%	$43K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.830	−0.310%	$575K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.845	−0.194%	$131K	$672K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.868	−0.016%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.865	−0.037%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.883	+0.105%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USDlong	+0.0100%	1h	12.870	long leg	$10K	$62K	10x
HTX LINK-USDT	+0.0100%	8h	12.837	−0.254%	$627K	$776K	75x	as long as short
Kraken Futures PF_LINKUSD	+0.0102%	1h	12.872	+0.014%	$6.4M	$8.4M	50x	as long as short
Extended LINK-USD	+0.0104%	1h	12.863	−0.057%	$618K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.873	+0.020%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0160%	1h	12.832	−0.295%	$929K	$2.9M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.870	0.000%	$5.3M	$15.8M	75x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0278%	1h	12.877	+0.051%	$805K	$268K	50x	as long as short
Reya LINKRUSDPERP	+0.0401%	1h	12.858	−0.093%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0549%	8h	12.882	+0.093%	$19.9M	$11.4M	50x	as long as short
dYdX LINK-USD	+0.0651%	1h	12.861	−0.068%	$343K	$45K	10x	as long as short