Funding you earn now, next payment 22:00 UTC−0.0312%/8h= −34.2% APRpaid last 24h −0.007%
Price spread now: Injective against Binance−0.197%107s7-day average −0.615% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.031%−$3 on $10k
+Price spread, last 3 days (all we have)−0.194%−$19 · spread now −0.197%, 7d avg −0.615%
=The price spread pays, funding is against you. Injective is 0.419% dearer against Binance than usual: you sell high and buy low (spread −0.197% now, against its 7-day average of −0.615%): +$42 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 4.5 days. At the pace of the last 7 days (−0.031% in total) that is about 3 months. The two prices were read 107 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.031% in total (about -1.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ALGOUSDT | 0.1117 | 0.0100 | pay 0.0100% / 8h | 2h 33m | $9.9M | $34.9M | 75x |
| Short | Injective ALGO/USDC PERP | 0.1115 | −0.0212 | pay 0.0027% / 1h | 33m 36s | $830 | $175K | 12x |
Binance ALGOUSDT
Injective ALGO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$65.59
- Price spread: −0.197% → −0.615%
- $41.85
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$33.76
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Binance: live order book, 8 min ago; Injective: 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 Binance live order book, 8 min ago | 0.45 bp | 10.4 bp −$10 | 27.7 bp −$277 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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.
ALGO on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ALGO_USDC-PERPETUAL | −0.0287% | 1h | 0.1117 | −0.027% | $101K | $49K | 25x | as long as short |
| Injective ALGO/USDC PERPshort | −0.0212% | 1h | 0.1115 | −0.197% | $830 | $175K | 12x | |
| Bybit ALGOUSDT | −0.0129% | 8h | 0.1116 | −0.098% | $11.2M | $12.3M | 75x | as long as short |
| Variational Omni ALGO | −0.0087% | 8h | 0.1113 | −0.397% | $65K | $10K | — | as long as short |
| Coinbase International ALGO-PERP-INTX | −0.0064% | 1h | 0.1121 | +0.322% | $62K | $339K | 50x | as long as short |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1117 | −0.030% | $6K | — | 150x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0093% | 1h | 0.1117 | −0.010% | $838K | $1.2M | 50x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1118 | +0.072% | $3.7M | $1.9M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1117 | −0.032% | $44K | $31K | 5x | as long as short |
| Binance ALGOUSDTlong | +0.0100% | 8h | 0.1117 | long leg | $9.9M | $34.9M | 75x |
Deribit ALGO_USDC-PERPETUAL
Bybit ALGOUSDT
Variational Omni ALGO
Coinbase International ALGO-PERP-INTX
gTrade (Gains Network) ALGO/USD
Kraken Futures PF_ALGOUSD
Hyperliquid ALGO
Aster ALGOUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1117 | 0.000% | $3.0M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1116 | −0.098% | $879K | $818K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1116 | −0.072% | $23.0M | $2.9M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1117 | −0.018% | $3.6M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1117 | −0.018% | $5.7M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1116 | −0.072% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1115 | −0.161% | $66K | $109K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1119 | +0.161% | $3.8M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1117 | −0.043% | $7K | $210K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1114 | −0.295% | $491K | $791K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0237% / S −0.0158% | 1h | 0.1117 | +0.006% | $5K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1301% | 1h | 0.1117 | +0.015% | $160K | $5K | 5x | as long as short |
OKX ALGO-USDT-SWAP
Gate ALGO_USDT
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
HTX ALGO-USDT
Phemex ALGOUSDT
Extended ALGO-USD
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD