Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.038%

Price spread now: HTX against Coinbase International−0.214%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$970.966% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.421%+$42 on $10k

Price spread, last 3 days (all we have)+0.212%+$21 · spread now −0.214%, 7d avg +0.007%

Together, before fees+0.634%+$63 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.221% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.214% now, against its 7-day average of +0.007%). If the spread goes back, that is −$22 on $10k: about 4.7 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ALGO-PERP-INTX	0.1121	−0.0056	get 0.0007% / 1h	25m 20s	$62K	$332K	50x
Short	HTX ALGO-USDT	0.1118	0.0100	get 0.0100% / 8h	1h 25m	$66K	$109K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.214%Rate

Funding earned: $32.76
Price spread: −0.214% → +0.007%: −$22.12
Slippage, 4 orders: −$74.6
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$85.96
Costs to cover: 0.966%
Break-even: 25.4 days

Slippage from Coinbase International: live order book, 58 min ago; HTX: live order book, 56 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, 58 min ago	4.89 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 56 min ago	7.58 bp	14.2 bp −$14	doesn't fit	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	−0.0552%	1h	0.1121	+0.009%	$102K	$50K	25x	as long as short
Injective ALGO/USDC PERP	−0.0295%	1h	0.1120	−0.054%	$834	$233K	12x	as long as short
Kraken Futures PF_ALGOUSD	−0.0287%	1h	0.1121	+0.004%	$835K	$1.2M	50x	as long as short
Bybit ALGOUSDT	−0.0104%	8h	0.1120	−0.089%	$11.3M	$12.3M	75x	as long as short
Variational Omni ALGO	−0.0080%	8h	0.1119	−0.155%	$65K	$10K	—	as long as short
Coinbase International ALGO-PERP-INTXlong	−0.0056%	1h	0.1121	long leg	$62K	$332K	50x
gTrade (Gains Network) ALGO/USD	L +0.0001% / S +0.0003%	1h	0.1121	+0.036%	$6K	—	150x	as long as short
Hyperliquid ALGO	+0.0100%	1h	0.1121	+0.045%	$3.7M	$1.9M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	0.1120	−0.041%	$44K	$36K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	0.1121	+0.003%	$9.8M	$34.9M	75x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ALGO-USDT-SWAP	+0.0100%	8h	0.1119	−0.107%	$3.0M	$7.7M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	0.1120	−0.045%	$889K	$853K	50x	as long as short
MEXC ALGO_USDT	+0.0100%	8h	0.1119	−0.125%	$23.3M	$2.8M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	0.1120	−0.062%	$3.6M	$1.5M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	0.1121	+0.036%	$5.6M	$3.6M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	0.1119	−0.107%	—	$3.3M	—	as long as short
HTX ALGO-USDTshort	+0.0100%	8h	0.1118	−0.214%	$66K	$109K	75x
Phemex ALGOUSDT	+0.0100%	8h	0.1122	+0.125%	$3.8M	$1.8M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	0.1120	−0.017%	$7K	$210K	10x	as long as short
BloFin ALGO-USDT	+0.0220%	8h	0.1119	−0.116%	$488K	$793K	75x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0255% / S −0.0189%	1h	0.1121	+0.044%	$5K	—	100x	as long as short
dYdX ALGO-USD	+0.1509%	1h	0.1120	−0.056%	$161K	$3K	5x	as long as short