Funding you earn now, next payment 08:00 UTC−0.0102%/8h= −11.1% APRnext payment −$1.02 per $10,000 · paid last 24h −0.036%
Price spread now: Phemex against BloFin+0.273%7-day average +0.159% · you sell dearer than you buy
Net, funding: paid 7d − costs−$82as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$660.657% of the position
Funding, last 7 days−0.165%−$17 on $10k
+Price spread, last 4 days (all we have)−0.164%−$16 · spread now +0.273%, 7d avg +0.159%
=The price spread pays, funding is against you. Phemex is 0.114% dearer against BloFin than usual: you sell high and buy low (spread +0.273% now, against its 7-day average of +0.159%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.7 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin ALGO-USDT | 0.1100 | 0.0220 | pay 0.0220% / 8h | 2h 52m | $478K | $867K | 75x |
| Short | Phemex ALGOUSDT | 0.1103 | 0.0118 | get 0.0118% / 8h | 2h 52m | $3.7M | $1.8M | 50x |
BloFin ALGO-USDT
Phemex ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BloFin. 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
- −$21.35
- Price spread: +0.273% → +0.159%
- $11.36
- Slippage, 4 orders
- −$41.7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$75.69
- Costs to cover
- 0.657%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 39 min ago; Phemex: live order book, 1 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 BloFin live order book, 39 min ago | 0.45 bp | 6.4 bp −$6 | 15.7 bp −$157 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 1 min ago | 4.53 bp | 20.7 bp −$21 | 57.8 bp −$578 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1100 | +0.029% | $16K | — | 150x | as long as short |
| Deribit ALGO_USDC-PERPETUAL | 0.0000% | 1h | 0.1101 | +0.055% | $87K | $44K | 25x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +1.818% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1103 | +0.273% | $3.6M | $2.0M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1102 | +0.193% | $44K | $37K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1102 | +0.193% | $9.5M | $34.5M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1101 | +0.082% | $11.0M | $12.5M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1101 | +0.127% | $2.7M | $7.7M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1100 | +0.009% | $847K | $903K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1102 | +0.209% | $22.9M | $3.1M | 200x | as long as short |
gTrade (Gains Network) ALGO/USD
Deribit ALGO_USDC-PERPETUAL
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 | 0.1101 | +0.091% | $3.4M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1102 | +0.182% | $5.5M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1101 | +0.136% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1100 | +0.037% | $60K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1101 | +0.064% | $59K | $135K | 75x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1102 | +0.189% | $4K | $195K | 10x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0112% | 1h | 0.1101 | +0.127% | $825K | $1.1M | 50x | as long as short |
| Phemex ALGOUSDTshort | +0.0118% | 8h | 0.1103 | +0.273% | $3.7M | $1.8M | 50x | |
| Coinbase International ALGO-PERP-INTX | +0.0144% | 1h | 0.1104 | +0.327% | $64K | $285K | 50x | as long as short |
| BloFin ALGO-USDTlong | +0.0220% | 8h | 0.1100 | long leg | $478K | $867K | 75x | |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0317% / S −0.0264% | 1h | 0.1101 | +0.093% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.2352% | 1h | 0.1102 | +0.182% | $159K | $4K | 5x | as long as short |
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
Variational Omni ALGO
HTX ALGO-USDT
Extended ALGO-USD
Kraken Futures PF_ALGOUSD
Coinbase International ALGO-PERP-INTX
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD