Funding you earn now, next payment 23:00 UTC+0.0177%/8h= +19.4% APRpaid last 24h +0.132%
Price spread now: Bybit against Deribit−0.133%7-day average −0.043% · you buy dearer than you sell
Net, funding: paid 7d − costs+$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$63as in the Price arb table
costs, in and out, $10k−$540.541% of the position
Funding, last 7 days+1.128%+$113 on $10k
+Price spread, last 3 days (all we have)−0.010%−$1 · spread now −0.133%, 7d avg −0.043%
=Funding pays, the price is against you. Bybit is 0.090% cheaper against Deribit than usual: you would sell low and buy high (spread −0.133% now, against its 7-day average of −0.043%). If the spread goes back, that is −$9 on $10k: about 41 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+1.128% in total) that is about 13 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit ALGO_USDC-PERPETUAL | 0.1125 | −0.0283 | get 0.0035% / 1h | 42m 17s | $102K | $50K | 25x |
| Short | Bybit ALGOUSDT | 0.1123 | −0.0106 | pay 0.0106% / 8h | 1h 42m | $11.3M | $12.2M | 75x |
Deribit ALGO_USDC-PERPETUAL
Bybit ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Deribit. 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
- $37.16
- Price spread: −0.133% → −0.043%
- −$9.05
- Slippage, 4 orders
- −$36.08
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$25.97
- Costs to cover
- 0.541%
- Break-even
- 11.9 days
Slippage from Deribit: live order book, 41 min ago; Bybit: 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 Deribit live order book, 41 min ago | 7.57 bp | 16.4 bp −$16 | 24.8 bp −$248 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 0.44 bp | 11.6 bp −$12 | 32.3 bp −$323 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ALGO/USDC PERP | −0.0295% | 1h | 0.1117 | −0.676% | $832 | $202K | 12x | as long as short |
| Kraken Futures PF_ALGOUSD | −0.0286% | 1h | 0.1125 | +0.020% | $845K | $1.1M | 50x | as long as short |
| Deribit ALGO_USDC-PERPETUALlong | −0.0283% | 1h | 0.1125 | long leg | $102K | $50K | 25x | |
| Bybit ALGOUSDTshort | −0.0106% | 8h | 0.1123 | −0.133% | $11.3M | $12.2M | 75x | |
| Variational Omni ALGO | −0.0090% | 8h | 0.1117 | −0.645% | $65K | $10K | — | as long as short |
| Coinbase International ALGO-PERP-INTX | −0.0056% | 1h | 0.1118 | −0.614% | $62K | $331K | 50x | as long as short |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1125 | +0.011% | $6K | — | 150x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1126 | +0.089% | $3.8M | $1.9M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1124 | −0.009% | $44K | $31K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1124 | −0.018% | $10.0M | $34.7M | 75x | as long as short |
Injective ALGO/USDC PERP
Kraken Futures PF_ALGOUSD
Variational Omni ALGO
Coinbase International ALGO-PERP-INTX
gTrade (Gains Network) ALGO/USD
Hyperliquid ALGO
Aster ALGOUSDT
Binance ALGOUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1124 | −0.098% | $3.0M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1124 | −0.071% | $884K | $845K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1124 | −0.027% | $23.2M | $2.8M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1125 | 0.000% | $3.6M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1124 | −0.053% | $5.7M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1124 | −0.053% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1124 | −0.044% | $66K | $109K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1125 | +0.036% | $3.8M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1124 | −0.023% | $7K | $210K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1124 | −0.062% | $492K | $798K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0252% / S −0.0185% | 1h | 0.1125 | +0.023% | $5K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1603% | 1h | 0.1125 | +0.030% | $161K | $5K | 5x | as long as short |
OKX ALGO-USDT-SWAP
Gate ALGO_USDT
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
HTX ALGO-USDT
Phemex ALGOUSDT
Extended ALGO-USD
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD