Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.005%
Price spread now: Injective against Bybit+1.449%58s7-day average −0.485% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.016%−$2 on $10k
+Price spread, last 4 days (all we have)−1.965%−$196 · spread now +1.449%, 7d avg −0.485%
=The price spread pays, funding is against you. Injective is 1.934% dearer against Bybit than usual: you sell high and buy low (spread +1.449% now, against its 7-day average of −0.485%): +$193 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3 months. At the pace of the last 7 days (−0.016% in total) that is about years. The two prices were read 58 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 | Bybit ALGOUSDT | 0.1104 | 0.0100 | pay 0.0100% / 8h | 3h 08m | $11.1M | $12.5M | 75x |
| Short | Injective ALGO/USDC PERP | 0.1120 | 0.0033 | get 0.0004% / 1h | 8m 18s | $834 | $233K | 12x |
Bybit ALGOUSDT
Injective ALGO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. 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
- −$14
- Price spread: +1.449% → −0.485%
- $193.44
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $168.42
- Costs to cover
- 0.110%
- Break-even
- from the start
Slippage unknown: Bybit: live order book, 5 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 Bybit live order book, 5 min ago | 0.90 bp | 15.2 bp −$15 | 38.3 bp −$383 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1106 | +0.139% | $16K | — | 150x | as long as short |
| Deribit ALGO_USDC-PERPETUAL | 0.0000% | 1h | 0.1106 | +0.145% | $87K | $45K | 25x | as long as short |
| Injective ALGO/USDC PERPshort | +0.0033% | 1h | 0.1120 | +1.449% | $834 | $233K | 12x | |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1107 | +0.272% | $3.6M | $2.0M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1106 | +0.177% | $44K | $36K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1105 | +0.109% | $9.6M | $34.5M | 75x | as long as short |
| Bybit ALGOUSDTlong | +0.0100% | 8h | 0.1104 | long leg | $11.1M | $12.5M | 75x | |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1105 | +0.109% | $2.7M | $7.7M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1106 | +0.181% | $853K | $907K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1105 | +0.100% | $23.0M | $3.1M | 200x | as long as short |
gTrade (Gains Network) ALGO/USD
Deribit ALGO_USDC-PERPETUAL
Hyperliquid ALGO
Aster ALGOUSDT
Binance 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 | 0.1105 | +0.054% | $3.5M | $1.4M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1105 | +0.091% | $5.5M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1105 | +0.091% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1108 | +0.335% | $61K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1105 | +0.136% | $60K | $135K | 75x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1106 | +0.144% | $4K | $195K | 10x | as long as short |
| Phemex ALGOUSDT | +0.0120% | 8h | 0.1108 | +0.362% | $3.7M | $1.8M | 50x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0132% | 1h | 0.1107 | +0.227% | $834K | $1.1M | 50x | as long as short |
| Coinbase International ALGO-PERP-INTX | +0.0168% | 1h | 0.1112 | +0.697% | $64K | $304K | 50x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1104 | −0.027% | $477K | $867K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0318% / S −0.0264% | 1h | 0.1105 | +0.120% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1199% | 1h | 0.1106 | +0.164% | $159K | $4K | 5x | as long as short |
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
Variational Omni ALGO
HTX ALGO-USDT
Extended ALGO-USD
Phemex ALGOUSDT
Kraken Futures PF_ALGOUSD
Coinbase International ALGO-PERP-INTX
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD