Live data
Chainlink (LINK) perpetual futures
Live funding rates, open interest, and measured trade costs for Chainlink. 30 venues in the PerpFinder venue map list LINK perps.
At a glance
This LINK funding snapshot covers 4 venues: Hyperliquid, Bybit, dYdX, and Binance. It is the server-rendered page seed, not the venue total; the live funding panel below covers every venue that lists LINK.
- Highest annualized funding
- +74.08%dYdX
- Executable spread
- 75.04% annualizeddYdX vs Bybit
More
The highest executable annualized funding rate is +74.08% on dYdX, and the lowest is -0.96% on Bybit.
The executable spread between dYdX and Bybit is 75.04% annualized, from 3 venues that report open interest.
Hyperliquid, Bybit, and dYdX report $158.5m of open interest across the venues in this snapshot that publish it.
The LINK price in this snapshot comes from Binance at $11.77.
Generated from live venue feeds at
Funding rates
Annualized rates across exchanges
dYdXDEX
HyperliquidDEX
BinanceCEX
BybitCEXOpen interest
Per-exchange open interest
HyperliquidBybitdYdXLong/short ratio
Account-level positioning
Long/short ratios are published for BTC, ETH, SOL, and XRP only.
Cost comparison
Fee plus slippage for a $100K trade
The order-book cost engine measures BTC, ETH, SOL, XRP, BNB, DOGE and HYPE. LINK is not measured. Live costs for the measured assets are on the cost comparison tool.
Where to Trade Chainlink (LINK) Perpetual Futures
27 of the 30 venues that list LINK perps have a PerpFinder review page. The table compares fees, leverage, and features for those 27.
| Venue | Maker | Taker | Max leverage | Rating | Trade |
|---|---|---|---|---|---|
| 0.015% | 0.045% | 40x | 9.2 | LINK → | |
| 0.010% | 0.050% | 50x | 9.0 | LINK → | |
| 0.04% or 0.06% when opening and again when closing; rate depends on whether the action improves or worsens pool imbalance | 100x | 8.5 | LINK → | ||
| 0.035% when opening and again when closing; BTC and ETH review rate; other pairs can use different fees and spreads | 1000x | 8.0 | LINK → | ||
| 0.010% | 0.035% | 50x | 8.0 | LINK → | |
| 0.020% | 0.050% | 100x | 8.0 | LINK → | |
| 0.010% | 0.020% | 100x | 7.8 | LINK → | |
| Free | 0.030% | 50x | 7.8 | LINK → | |
| -0.010% | 0.017% | 1000x | 7.8 | LINK → | |
| 0.050% | 0.080% | 20x | 7.5 | LINK → | |
| Free | 0.040% | 100x | 7.5 | LINK → | |
| 0.012% | 0.038% | 100x | 7.5 | LINK → | |
| Free | 0.000% | 50x | 7.5 | LINK → | |
| Free | 0.000% | 50x | 7.5 | LINK → | |
| 0.03% when opening and again when closing; Regular Tier 0 fee for each executed position increase or decrease. Volume tiers can lower it. Price impact and funding are separate. | 100x | 7.5 | LINK → | ||
| 0.01% or 0.045% when opening and again when closing; crypto standard perps; 0.01% improves the open-interest balance, 0.045% worsens it; forex, commodity and equity markets are 0% and Upside Perps use profit sharing | 100x | 7.0 | LINK → | ||
| 0.045% or 0.055% when opening and again when closing; VIP Tier 0; 0.045% when an executed open, increase, close, or decrease improves long-short open-interest balance, and 0.055% when it worsens that balance | 100x | 7.0 | LINK → | ||
| Free | 0.025% | 100x | 7.0 | LINK → | |
| -0.000% | 0.045% | 50x | 7.0 | LINK → | |
| 0.04% or 0.06% when opening and again when closing; rate depends on whether the action improves or worsens the long and short balance | 100x | 6.5 | LINK → | ||
| 0.020% | 0.050% | 100x | 6.5 | LINK → | |
| 0.020% | 0.050% | 50x | 6.5 | LINK → | |
| 0.015% | 0.040% | 50x | 6.5 | LINK → | |
| 0.010% | 0.040% | 40x | 6.5 | LINK → | |
| Free | 0.045% | 50x | 6.5 | LINK → | |
| 0.010% | 0.035% | 100x | 6.0 | LINK → | |
| 0.020% | 0.050% | 100x | 6.0 | LINK → | |
Market Overview
LINK perps have an unusual structural characteristic: Chainlink's price feeds power most of the DEX venues where LINK itself trades as a perpetual. That circularity means when Chainlink oracles slow or are stressed, it directly affects the settlement mechanism of the venues where you would trade LINK risk.
Venue landscape
LINK perps are available on all major CEX venues and on several DEX platforms. Hyperliquid and dYdX both list LINK perps with meaningful depth. Among CEXes, Binance holds the deepest LINK book, with Bybit and OKX as viable alternatives for larger orders.
DEX venues that use Chainlink oracles for LINK price settlement include GMX and Gains Network. This means a Chainlink oracle manipulation event would affect the settlement price of LINK perps on those platforms. The probability is low given Chainlink's decentralized node architecture, but it is a structural exposure worth knowing. Check the Chainlink documentation for the node operator set and aggregation methodology.
Funding pattern and DeFi correlation
LINK funding is positively correlated with overall DeFi activity. When new protocols launch or expand on Ethereum, DeFi, or EVM-compatible chains, demand for Chainlink oracle integrations grows, which traders read as a revenue catalyst for the network. LINK open interest tracks DeFi activity, because each new oracle integration adds a reason to hold a directional position.
The funding pattern reverses during DeFi contraction cycles: as TVL falls and new protocol launches slow, LINK funding turns negative or flat. This makes LINK a useful DeFi sentiment barometer for cross-asset analysis.
Concentration and liquidity risk
LINK's token distribution includes a significant portion held by the Chainlink team for ecosystem development and node operator payments. Large transfers from these wallets have historically preceded short-term price pressure. Monitoring large LINK wallet movements provides a forward signal for sudden supply events.
LINK perps have thinner depth than BTC, ETH, and SOL, so position sizes above $200k notional warrant checking both Binance and Bybit order books before executing. Use the funding rates tool to compare current LINK funding across venues before entering a position.
Trading Tips for Chainlink Perps
LINK often rallies when new DeFi protocols launch or expand, since most require Chainlink oracle integration. Track protocol launch announcements and new Chainlink integrations as potential catalysts for LINK perp trades.
Frequently Asked Questions — Chainlink (LINK)
What is the current LINK perpetual futures funding rate?
The live Chainlink (LINK) funding-rate panel updates every 2 minutes. It shows annualized rates for each exchange that lists LINK perps. A positive rate means long traders pay short traders, while a negative rate means shorts pay longs.
Which exchange has the lowest LINK perp trading fees?
Among 21 tracked LINK venues with comparable order-book schedules, Paradex lists the lowest taker fee at 0.000%. Lighter lists 0.000%. 6 position-fee venues are excluded from this maker/taker result. Use the cost comparison for total cost.
How does Chainlink open interest compare across exchanges?
The Chainlink (LINK) open-interest chart shows the total value of outstanding LINK derivative contracts on each exchange. Rising open interest indicates new capital entering the market, while declining OI suggests positions are being closed.
What does the LINK long/short ratio indicate?
The Chainlink long/short ratio shows the balance between traders betting on price increases (longs) versus decreases (shorts) across exchanges. An extreme ratio in either direction can signal potential reversals as crowded positioning often leads to liquidation cascades.
Where can I trade LINK perpetual futures?
Chainlink (LINK) perps are listed on 27 exchanges, including Hyperliquid, dYdX, GMX, Gains Network, and Bluefin, plus 22 more. The "Where to Trade Chainlink (LINK) Perpetual Futures" section compares fees and leverage limits and gives a direct trading link for each venue.
Category: Infrastructure · Data updates every 2 minutes · All rates shown are annualized