Funding you earn now, next payment 05:00 UTC−0.1226%/8h= −134.2% APRpaid last 24h −0.543%
Price spread now: Phemex against dYdX+0.170%7-day average +0.116% · you sell dearer than you buy
Net, funding: paid 7d − costs−$316as in the Funding arb table
Net, price: spread back to 7d avg − costs−$161as in the Price arb table
costs, in and out, $10k−$1661.659% of the position
Funding, last 7 days−1.501%−$150 on $10k
+Price spread, last 4 days (all we have)+0.041%+$4 · spread now +0.170%, 7d avg +0.116%
=The price spread pays, funding is against you. Phemex is 0.054% dearer against dYdX than usual: you sell high and buy low (spread +0.170% now, against its 7-day average of +0.116%): +$5 on $10k if it goes back. Holding the pair costs −$37 a day in funding at the current rate, which eats that in about 4 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | dYdX ALGO-USD | 0.1117 | 0.1334 | pay 0.0167% / 1h | 52m 05s | $161K | $4K | 5x |
| Short | Phemex ALGOUSDT | 0.1119 | 0.0108 | get 0.0108% / 8h | 3h 52m | $3.8M | $1.8M | 50x |
dYdX ALGO-USD
Phemex ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against dYdX. 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
- −$257.37
- Price spread: +0.170% → +0.116%
- $5.42
- Slippage, 4 orders
- −$143.92
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$417.87
- Costs to cover
- 1.659%
- Break-even
- never at this rate
Slippage from dYdX: live order book, 2 min ago; Phemex: 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 dYdX live order book, 2 min ago | 37.92 bp | 49.4 bp −$49 | 132.4 bp −$1,324 | 176.6 bp −$17.7K | 1368.3 bp −$684.2K |
| Sell Phemex live order book, 2 min ago | 8.93 bp | 34.7 bp −$35 | 73.7 bp −$737 | 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 | −0.0108% | 1h | 0.1116 | −0.107% | $88K | $44K | 25x | as long as short |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1117 | +0.009% | $16K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +0.260% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1118 | +0.054% | $3.6M | $2.0M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1117 | −0.051% | $44K | $36K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1116 | −0.081% | $9.7M | $34.3M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1115 | −0.188% | $11.2M | $12.5M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1116 | −0.072% | $2.8M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1115 | −0.170% | $863K | $900K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1116 | −0.116% | $23.1M | $3.1M | 200x | as long as short |
Deribit ALGO_USDC-PERPETUAL
gTrade (Gains Network) ALGO/USD
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 | −0.054% | $3.5M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1116 | −0.098% | $5.5M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1116 | −0.072% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1115 | −0.223% | $61K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1117 | +0.027% | $60K | $135K | 75x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1116 | −0.061% | $4K | $231K | 10x | as long as short |
| Phemex ALGOUSDTshort | +0.0108% | 8h | 0.1119 | +0.170% | $3.8M | $1.8M | 50x | |
| Kraken Futures PF_ALGOUSD | +0.0131% | 1h | 0.1116 | −0.063% | $829K | $1.0M | 50x | as long as short |
| Coinbase International ALGO-PERP-INTX | +0.0168% | 1h | 0.1117 | −0.045% | $88K | $284K | 50x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1116 | −0.063% | $478K | $876K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0319% / S −0.0264% | 1h | 0.1117 | −0.046% | $6K | — | 100x | as long as short |
| dYdX ALGO-USDlong | +0.1334% | 1h | 0.1117 | long leg | $161K | $4K | 5x |
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
Variational Omni ALGO
HTX ALGO-USDT
Extended ALGO-USD
Kraken Futures PF_ALGOUSD
Coinbase International ALGO-PERP-INTX
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]