Funding you earn now, next payment 08:00 UTC+0.0044%/8h= +4.9% APRnext payment +$0.44 per $10,000 · paid last 24h 0.000%
Price spread now: Phemex against Bitget−0.182%46s7-day average +0.135% · you buy dearer than you sell
Net, funding: paid 7d − costs−$91as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$920.915% of the position
Funding, last 7 days+0.010%+$1 on $10k
+Price spread, last 4 days (all we have)+0.335%+$34 · spread now −0.182%, 7d avg +0.135%
=Funding pays, the price is against you. Phemex is 0.317% cheaper against Bitget than usual: you would sell low and buy high (spread −0.182% now, against its 7-day average of +0.135%). If the spread goes back, that is −$32 on $10k: about 24 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.010% in total) that is about 7 months. The two prices were read 46 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 | Bitget ALGOUSDT | 0.1097 | 0.0100 | pay 0.0100% / 8h | 2h 21m | $5.4M | $3.6M | 75x |
| Short | Phemex ALGOUSDT | 0.1095 | 0.0144 | get 0.0144% / 8h | 2h 21m | $3.7M | $1.8M | 50x |
Bitget ALGOUSDT
Phemex ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bitget. 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
- $9.34
- Price spread: −0.182% → +0.135%
- −$31.74
- Slippage, 4 orders
- −$67.55
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$113.95
- Costs to cover
- 0.915%
- Break-even
- 92.4 days
Slippage from Bitget: live order book, 2 min ago; Phemex: live order book, 2 min ago.
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 Bitget live order book, 2 min ago | 4.58 bp | 19.2 bp −$19 | 38.5 bp −$385 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 4.57 bp | 24.4 bp −$24 | 62.8 bp −$628 | doesn't fit | doesn't fit |
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 | −0.0024% | 1h | 0.1094 | −0.292% | $86K | $44K | 25x | as long as short |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1093 | −0.390% | $16K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +2.097% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1098 | +0.055% | $3.4M | $2.3M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1097 | −0.013% | $44K | $37K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1097 | −0.011% | $9.4M | $35.0M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1096 | −0.109% | $10.9M | $12.7M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1097 | −0.036% | $2.7M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1094 | −0.319% | $834K | $928K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1096 | −0.091% | $22.8M | $3.2M | 200x | as long as short |
Deribit ALGO_USDC-PERPETUAL
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
Hyperliquid ALGO
Aster ALGOUSDT
Binance ALGOUSDT
Bybit ALGOUSDT
OKX ALGO-USDT-SWAP
Gate ALGO_USDT
MEXC ALGO_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1095 | −0.210% | $3.4M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDTlong | +0.0100% | 8h | 0.1097 | long leg | $5.4M | $3.6M | 75x | |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1096 | −0.091% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1088 | −0.819% | $60K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1093 | −0.383% | $59K | $136K | 75x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1096 | −0.102% | $7K | $196K | 10x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0113% | 1h | 0.1095 | −0.185% | $822K | $1.1M | 50x | as long as short |
| Coinbase International ALGO-PERP-INTX | +0.0144% | 1h | 0.1093 | −0.383% | $62K | $285K | 50x | as long as short |
| Phemex ALGOUSDTshort | +0.0144% | 8h | 0.1095 | −0.182% | $3.7M | $1.8M | 50x | |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1091 | −0.510% | $469K | $868K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0317% / S −0.0264% | 1h | 0.1093 | −0.366% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1545% | 1h | 0.1094 | −0.246% | $158K | $5K | 5x | as long as short |
KuCoin ALGOUSDTM
BingX ALGO-USDT
Variational Omni ALGO
HTX ALGO-USDT
Extended ALGO-USD
Kraken Futures PF_ALGOUSD
Coinbase International ALGO-PERP-INTX
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD