Rails, Turbolinks and spinner

I am trying to replace a text link with a spinner on click. I have this:

$(document).on('page:fetch', function(e) {
  $('.spinner').replaceWith( "<img src='<%= asset_path('layout/spinner.gif') %>'>" );
});

But it is obvious that all links with the .spinner class gets the spinner. I want to replace only on the clicked link and only IF it has the spinner class.

Any suggestions?