Funding you earn now, next payment 03:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.037%
Price spread now: Binance against Coinbase International−0.423%7-day average +0.040% · you buy dearer than you sell
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$103as in the Price arb table
costs, in and out, $10k−$570.570% of the position
Funding, last 7 days+0.334%+$33 on $10k
+Price spread, last 4 days (all we have)+0.700%+$70 · spread now −0.423%, 7d avg +0.040%
=Funding pays, the price is against you. Binance is 0.463% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.423% now, against its 7-day average of +0.040%). If the spread goes back, that is −$46 on $10k: about 3 months of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.334% in total) that is about 9.7 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International ALGO-PERP-INTX | 0.1116 | 0.0080 | pay 0.0010% / 1h | 51m 38s | $88K | $291K | 50x |
| Short | Binance ALGOUSDT | 0.1112 | 0.0100 | get 0.0100% / 8h | 4h 51m | $9.8M | $34.8M | 75x |
Coinbase International ALGO-PERP-INTX
Binance ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Coinbase International. 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
- $4.2
- Price spread: −0.423% → +0.040%
- −$46.32
- Slippage, 4 orders
- −$37.03
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$99.16
- Costs to cover
- 0.570%
- Break-even
- 172.3 days
Slippage from Coinbase International: live order book, 6 min ago; Binance: live order book, 5 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 Coinbase International live order book, 6 min ago | 8.53 bp | 17.1 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 5 min ago | 0.45 bp | 12.9 bp −$13 | 32.6 bp −$326 | 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 | −0.0200% | 1h | 0.1111 | −0.448% | $88K | $44K | 25x | as long as short |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1112 | −0.402% | $16K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +0.322% | $834 | $233K | 12x | as long as short |
| Coinbase International ALGO-PERP-INTXlong | +0.0080% | 1h | 0.1116 | long leg | $88K | $291K | 50x | |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1113 | −0.278% | $3.7M | $2.0M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1112 | −0.364% | $44K | $38K | 5x | as long as short |
| Binance ALGOUSDTshort | +0.0100% | 8h | 0.1112 | −0.423% | $9.8M | $34.8M | 75x | |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1111 | −0.484% | $11.4M | $12.5M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1112 | −0.394% | $2.8M | $7.7M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1112 | −0.394% | $861K | $885K | 50x | as long as short |
Deribit ALGO_USDC-PERPETUAL
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
Hyperliquid ALGO
Aster ALGOUSDT
Bybit ALGOUSDT
OKX ALGO-USDT-SWAP
Gate ALGO_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1112 | −0.421% | $22.7M | $3.0M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1112 | −0.358% | $3.5M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1112 | −0.394% | $5.5M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1112 | −0.412% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1119 | +0.252% | $61K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1112 | −0.367% | $60K | $140K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1115 | −0.125% | $3.8M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1112 | −0.411% | $4K | $227K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1114 | −0.197% | $493K | $893K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0342% / S −0.0313% | 1h | 0.1112 | −0.426% | $7K | — | 100x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0377% | 1h | 0.1112 | −0.419% | $822K | $1.0M | 50x | as long as short |
| dYdX ALGO-USD | +0.1022% | 1h | 0.1112 | −0.412% | $160K | $4K | 5x | as long as short |
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
Variational Omni ALGO
HTX ALGO-USDT
Phemex ALGOUSDT
Extended ALGO-USD
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
Kraken Futures PF_ALGOUSD
dYdX ALGO-USD