Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h +0.075%

Price spread now: BloFin against Coinbase International−0.088%58s7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs+$8as 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−$510.507% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.587%+$59 on $10k

Price spread, last 4 days (all we have)+0.622%+$62 · spread now −0.088%, 7d avg +0.026%

Together, before fees+1.209%+$121 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.115% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.088% now, against its 7-day average of +0.026%). If the spread goes back, that is −$11 on $10k: about 2.0 days of funding at the current rate (+$6 a day). 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	Coinbase International ALGO-PERP-INTX	0.1131	0.0032	pay 0.0004% / 1h	34m 01s	$71K	$274K	50x
Short	BloFin ALGO-USDT	0.1130	0.0220	get 0.0220% / 8h	5h 34m	$490K	$894K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now −0.088%Rate

Funding earned: $39.48
Price spread: −0.088% → +0.026%: −$11.47
Slippage, 4 orders: −$28.7
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$22.69
Costs to cover: 0.507%
Break-even: 11.0 days

Slippage from Coinbase International: live order book, 29 min ago; BloFin: live order book, 8 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, 29 min ago	5.83 bp	14.4 bp −$14	21.6 bp −$216	doesn't fit	doesn't fit
Sell BloFin live order book, 8 min ago	0.45 bp	10.9 bp −$11	25.6 bp −$256	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	0.1130	−0.081%	$17K	—	150x	as long as short
Deribit ALGO_USDC-PERPETUAL	0.0000%	1h	0.1131	+0.027%	$90K	$45K	25x	as long as short
Coinbase International ALGO-PERP-INTXlong	+0.0032%	1h	0.1131	long leg	$71K	$274K	50x
Injective ALGO/USDC PERP	+0.0033%	1h	0.1120	−0.973%	$834	$233K	12x	as long as short
Hyperliquid ALGO	+0.0100%	1h	0.1135	+0.340%	$3.8M	$2.0M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	0.1131	+0.012%	$45K	$40K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	0.1133	+0.141%	$9.9M	$34.5M	75x	as long as short
Bybit ALGOUSDT	+0.0100%	8h	0.1132	+0.124%	$11.8M	$12.4M	75x	as long as short
OKX ALGO-USDT-SWAP	+0.0100%	8h	0.1133	+0.159%	$2.9M	$7.8M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	0.1132	+0.080%	$898K	$862K	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ALGO_USDT	+0.0100%	8h	0.1132	+0.124%	$23.1M	$3.0M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	0.1133	+0.159%	$3.6M	$1.5M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	0.1133	+0.177%	$5.7M	$3.5M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	0.1132	+0.124%	—	$3.3M	—	as long as short
Variational Omni ALGO	+0.0100%	8h	0.1130	−0.108%	$62K	$12K	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	0.1130	−0.071%	$60K	$140K	75x	as long as short
Phemex ALGOUSDT	+0.0100%	8h	0.1133	+0.177%	$3.8M	$1.8M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	0.1130	−0.063%	$4K	$229K	10x	as long as short
BloFin ALGO-USDTshort	+0.0220%	8h	0.1130	−0.088%	$490K	$894K	75x
GMX ALGO/USD [WBTC.b-USDC]	L +0.0344% / S −0.0313%	1h	0.1130	−0.064%	$7K	—	100x	as long as short
Kraken Futures PF_ALGOUSD	+0.0349%	1h	0.1132	+0.106%	$838K	$1.1M	50x	as long as short
dYdX ALGO-USD	+0.2330%	1h	0.1130	−0.113%	$163K	$4K	5x	as long as short