Funding you earn now, next payment 04:00 UTC−0.0037%/8h= −4.1% APRnext payment −$0.05 per $10,000 · paid last 24h −0.013%
Price spread now: Kraken Futures against Coinbase International−0.093%7-day average +0.103% · you buy dearer than you sell
Net, funding: paid 7d − costs−$81as in the Funding arb table
Net, price: spread back to 7d avg − costs−$102as in the Price arb table
costs, in and out, $10k−$830.828% of the position
Funding, last 7 days+0.018%+$2 on $10k
+Price spread, last 4 days (all we have)+0.334%+$33 · spread now −0.093%, 7d avg +0.103%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.196% cheaper against Coinbase International than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.103%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International ALGO-PERP-INTX | 0.1117 | 0.0168 | pay 0.0021% / 1h | 51m 05s | $88K | $284K | 50x |
| Short | Kraken Futures PF_ALGOUSD | 0.1116 | 0.0131 | get 0.0016% / 1h | 51m 05s | $830K | $1.0M | 50x |
Coinbase International ALGO-PERP-INTX
Kraken Futures PF_ALGOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$7.81
- Price spread: −0.093% → +0.103%
- −$19.58
- Slippage, 4 orders
- −$62.78
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$110.17
- Costs to cover
- 0.828%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 2 min ago; Kraken Futures: live order book, 2 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, 2 min ago | 10.29 bp | 20.6 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 12.07 bp | 27.1 bp −$27 | 55.2 bp −$552 | 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 | 0.1116 | −0.055% | $16K | — | 150x | as long as short |
| Deribit ALGO_USDC-PERPETUAL | 0.0000% | 1h | 0.1116 | −0.090% | $88K | $44K | 25x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +0.304% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1116 | −0.054% | $3.6M | $2.0M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1116 | −0.086% | $44K | $36K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1115 | −0.132% | $9.7M | $34.3M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1114 | −0.260% | $11.2M | $12.5M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1115 | −0.143% | $2.8M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1115 | −0.125% | $863K | $900K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1115 | −0.125% | $23.1M | $3.1M | 200x | as long as short |
gTrade (Gains Network) ALGO/USD
Deribit ALGO_USDC-PERPETUAL
Injective ALGO/USDC PERP
Hyperliquid ALGO
Aster ALGOUSDT
Binance ALGOUSDT
Bybit 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 | 0.1116 | −0.090% | $3.5M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1115 | −0.143% | $5.5M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1115 | −0.143% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1115 | −0.174% | $61K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1116 | −0.036% | $60K | $135K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0103% | 8h | 0.1117 | +0.036% | $3.8M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1116 | −0.088% | $4K | $231K | 10x | as long as short |
| Kraken Futures PF_ALGOUSDshort | +0.0131% | 1h | 0.1116 | −0.093% | $830K | $1.0M | 50x | |
| Coinbase International ALGO-PERP-INTXlong | +0.0168% | 1h | 0.1117 | long leg | $88K | $284K | 50x | |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1116 | −0.081% | $480K | $873K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0319% / S −0.0264% | 1h | 0.1116 | −0.066% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1257% | 1h | 0.1116 | −0.054% | $161K | $4K | 5x | as long as short |
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]
dYdX ALGO-USD