Funding you earn now, next payment 00:00 UTC−0.0242%/8h= −26.5% APRnext payment −$2.42 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Gate−0.036%7-day average −0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs−$104as in the Funding arb table
Net, price: spread back to 7d avg − costs−$103as in the Price arb table
costs, in and out, $10k−$1000.998% of the position
Funding, last 7 days−0.037%−$4 on $10k
+Price spread, last 4 days (all we have)+0.077%+$8 · spread now −0.036%, 7d avg −0.006%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.030% cheaper against Gate than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.006%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.037% in total (about -1.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.42 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate ALGO_USDT | 0.1124 | 0.0100 | pay 0.0100% / 8h | 9m 53s | $884K | $837K | 50x |
| Short | Bybit ALGOUSDT | 0.1124 | −0.0142 | pay 0.0142% / 8h | 9m 53s | $11.2M | $11.9M | 75x |
Gate ALGO_USDT
Bybit ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Gate. 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
- −$50.77
- Price spread: −0.036% → −0.006%
- −$2.95
- Slippage, 4 orders
- −$73.82
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$153.54
- Costs to cover
- 0.998%
- Break-even
- never at this rate
Slippage from Gate: live order book, 2 min ago; Bybit: live order book, 3 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 Gate live order book, 2 min ago | 7.57 bp | 38.1 bp −$38 | 372.6 bp −$3,726 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 0.45 bp | 7.1 bp −$7 | 27.9 bp −$279 | 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 | −0.0372% | 1h | 0.1125 | +0.133% | $102K | $50K | 25x | as long as short |
| Kraken Futures PF_ALGOUSD | −0.0157% | 1h | 0.1125 | +0.126% | $837K | $1.1M | 50x | as long as short |
| Bybit ALGOUSDTshort | −0.0142% | 8h | 0.1124 | −0.036% | $11.2M | $11.9M | 75x | |
| Variational Omni ALGO | −0.0127% | 8h | 0.1122 | −0.188% | $62K | $12K | — | as long as short |
| Coinbase International ALGO-PERP-INTX | −0.0112% | 1h | 0.1130 | +0.543% | $62K | $300K | 50x | as long as short |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1126 | +0.169% | $6K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0026% | 1h | 0.1120 | −0.347% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1127 | +0.240% | $3.8M | $1.9M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1124 | +0.040% | $44K | $35K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1124 | −0.002% | $10.0M | $34.2M | 75x | as long as short |
Deribit ALGO_USDC-PERPETUAL
Kraken Futures PF_ALGOUSD
Variational Omni ALGO
Coinbase International ALGO-PERP-INTX
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
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 | 0.1123 | −0.044% | $3.0M | $7.6M | 50x | as long as short |
| Gate ALGO_USDTlong | +0.0100% | 8h | 0.1124 | long leg | $884K | $837K | 50x | |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1124 | +0.044% | $23.1M | $3.0M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1125 | +0.125% | $3.6M | $1.4M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1125 | +0.098% | $5.7M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1124 | +0.018% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1125 | +0.089% | $66K | $107K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1127 | +0.276% | $3.8M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1125 | +0.056% | $7K | $210K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1124 | −0.027% | $492K | $796K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0330% / S −0.0329% | 1h | 0.1126 | +0.179% | $7K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1326% | 1h | 0.1124 | −0.021% | $161K | $3K | 5x | as long as short |
OKX ALGO-USDT-SWAP
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