ALGO

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0164%/8h= +18.0% APRnext payment +$0.21 per $10,000 · paid last 24h +0.039%

Price spread now: Hyperliquid against Coinbase International−0.348%7-day average +0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$490.486% of the position

Long on Coinbase International Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.347%+$35 on $10k

Price spread, last 3 days (all we have)+0.472%+$47 · spread now −0.348%, 7d avg +0.138%

Together, before fees+0.818%+ Points / potential airdropHyperliquid: Season 2 · farm board+$82 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.486% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.348% now, against its 7-day average of +0.138%). If the spread goes back, that is −$49 on $10k: about 9.9 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	−0.0064	get 0.0008% / 1h	40m 03s	$62K	$339K	50x
Short	Hyperliquid ALGO	0.1117	0.0100	get 0.0013% / 1h	40m 03s	$3.7M	$1.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.348%Rate

Funding earned: $34.44
Price spread: −0.348% → +0.138%: −$48.62
Slippage, 4 orders: −$29.6
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$62.77
Costs to cover: 0.486%
Break-even: 19.8 days

Slippage from Coinbase International: live order book, 48 min ago; Hyperliquid: 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 Coinbase International live order book, 48 min ago	4.47 bp	10.4 bp −$10	16.7 bp −$167	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 1 min ago	1.79 bp	9.7 bp −$10	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	−0.0646%	1h	0.1115	−0.473%	$101K	$49K	25x	as long as short
Injective ALGO/USDC PERP	−0.0212%	1h	0.1115	−0.517%	$830	$175K	12x	as long as short
Bybit ALGOUSDT	−0.0132%	8h	0.1114	−0.598%	$11.2M	$12.3M	75x	as long as short
Variational Omni ALGO	−0.0077%	8h	0.1114	−0.597%	$65K	$10K	—	as long as short
Coinbase International ALGO-PERP-INTXlong	−0.0064%	1h	0.1121	long leg	$62K	$339K	50x
gTrade (Gains Network) ALGO/USD	L +0.0001% / S +0.0003%	1h	0.1116	−0.437%	$6K	—	150x	as long as short
Kraken Futures PF_ALGOUSD	+0.0093%	1h	0.1116	−0.406%	$837K	$1.2M	50x	as long as short
Hyperliquid ALGOshort	+0.0100%	1h	0.1117	−0.348%	$3.7M	$1.9M	5x
Aster ALGOUSDT	+0.0100%	8h	0.1116	−0.413%	$44K	$31K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	0.1115	−0.491%	$9.9M	$35.0M	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	0.1115	−0.517%	$3.0M	$7.8M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	0.1115	−0.491%	$878K	$818K	50x	as long as short
MEXC ALGO_USDT	+0.0100%	8h	0.1115	−0.509%	$23.0M	$2.9M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	0.1115	−0.482%	$3.6M	$1.5M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	0.1116	−0.428%	$5.7M	$3.6M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	0.1115	−0.491%	—	$3.3M	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	0.1114	−0.562%	$66K	$109K	75x	as long as short
Phemex ALGOUSDT	+0.0100%	8h	0.1118	−0.250%	$3.8M	$1.8M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	0.1115	−0.503%	$7K	$210K	10x	as long as short
BloFin ALGO-USDT	+0.0220%	8h	0.1115	−0.482%	$494K	$792K	75x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0237% / S −0.0158%	1h	0.1116	−0.418%	$5K	—	100x	as long as short
dYdX ALGO-USD	+0.1278%	1h	0.1116	−0.428%	$160K	$5K	5x	as long as short