Funding you earn now, next payment 05:00 UTC+0.0122%/8h= +13.4% APRpaid last 24h +0.119%
Price spread now: OKX against Deribit−0.181%46s7-day average −0.049% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+1.041%+$104 on $10k
+Price spread, last 4 days (all we have)−0.054%−$5 · spread now −0.181%, 7d avg −0.049%
=Funding pays, the price is against you. OKX is 0.132% cheaper against Deribit than usual: you would sell low and buy high (spread −0.181% now, against its 7-day average of −0.049%). If the spread goes back, that is −$13 on $10k: about 3.6 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+1.041% in total) that is about 21 hours. The two prices were read 46 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 | Deribit ALGO_USDC-PERPETUAL | 0.1104 | −0.0022 | get 0.0003% / 1h | 2m 30s | $87K | $45K | 25x |
| Short | OKX ALGO-USDT-SWAP | 0.1102 | 0.0100 | get 0.0100% / 8h | 3h 02m | $2.7M | $7.7M | 50x |
Deribit ALGO_USDC-PERPETUAL
OKX ALGO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $25.62
- Price spread: −0.181% → −0.049%
- −$13.19
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$4.57
- Costs to cover
- 0.170%
- Break-even
- 8.2 days
Slippage unknown: Deribit: no order-book sample; OKX: live order book, 5 min ago. Net counts fees only.
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 no order-book sample | — | — | — | — | — |
| Sell OKX live order book, 5 min ago | 1.36 bp | 16.8 bp −$17 | 63.0 bp −$630 | doesn't fit | doesn't fit |
Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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-PERPETUALlong | −0.0022% | 1h | 0.1104 | long leg | $87K | $45K | 25x | |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1102 | −0.131% | $16K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +1.468% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1104 | −0.009% | $3.6M | $2.0M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1102 | −0.130% | $44K | $37K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1102 | −0.167% | $9.5M | $34.5M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1101 | −0.254% | $11.0M | $12.5M | 75x | as long as short |
| OKX ALGO-USDT-SWAPshort | +0.0100% | 8h | 0.1102 | −0.181% | $2.7M | $7.7M | 50x | |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1103 | −0.118% | $850K | $908K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1102 | −0.154% | $22.9M | $3.2M | 200x | as long as short |
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
Hyperliquid ALGO
Aster ALGOUSDT
Binance ALGOUSDT
Bybit ALGOUSDT
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 | 0.1102 | −0.154% | $3.5M | $1.4M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1102 | −0.163% | $5.4M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1102 | −0.154% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1104 | −0.017% | $60K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1104 | +0.009% | $60K | $135K | 75x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1102 | −0.173% | $4K | $195K | 10x | as long as short |
| Phemex ALGOUSDT | +0.0115% | 8h | 0.1105 | +0.109% | $3.7M | $1.8M | 50x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0132% | 1h | 0.1104 | +0.013% | $830K | $1.1M | 50x | as long as short |
| Coinbase International ALGO-PERP-INTX | +0.0168% | 1h | 0.1105 | +0.145% | $64K | $300K | 50x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1104 | +0.027% | $478K | $876K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0317% / S −0.0264% | 1h | 0.1102 | −0.141% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1333% | 1h | 0.1103 | −0.092% | $159K | $4K | 5x | as long as short |
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
Variational Omni ALGO
HTX ALGO-USDT
Extended ALGO-USD
Phemex ALGOUSDT
Kraken Futures PF_ALGOUSD
Coinbase International ALGO-PERP-INTX
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD