Funding you earn now, next payment 03:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h 0.000%
Price spread now: Phemex against Hyperliquid+0.106%7-day average +0.053% · you sell dearer than you buy
Net, funding: paid 7d − costs−$67as in the Funding arb table
Net, price: spread back to 7d avg − costs−$69as in the Price arb table
costs, in and out, $10k−$740.741% of the position
Funding, last 7 days+0.074%+$7 on $10k
+Price spread, last 4 days (all we have)+0.114%+$11 · spread now +0.106%, 7d avg +0.053%
=Together, before fees+0.188%+ Points / potential airdropHyperliquid: Season 2 · farm board+$19 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.053% dearer against Hyperliquid than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.053%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ALGO | 0.1130 | 0.0100 | pay 0.0013% / 1h | 15m 47s | $3.8M | $2.0M | 5x |
| Short | Phemex ALGOUSDT | 0.1131 | 0.0101 | get 0.0101% / 8h | 5h 15m | $3.8M | $1.8M | 50x |
Hyperliquid ALGO
Phemex ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Hyperliquid. 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
- $0.25
- Price spread: +0.106% → +0.053%
- $5.3
- Slippage, 4 orders
- −$53.12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$68.57
- Costs to cover
- 0.741%
- Break-even
- 1927.7 days
Slippage from Hyperliquid: live order book, 6 min ago; Phemex: 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 Hyperliquid live order book, 6 min ago | 0.44 bp | 14.8 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 4.41 bp | 20.2 bp −$20 | 60.0 bp −$600 | 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 | −0.0016% | 1h | 0.1129 | −0.053% | $90K | $45K | 25x | as long as short |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1129 | −0.062% | $17K | — | 150x | as long as short |
| Coinbase International ALGO-PERP-INTX | +0.0032% | 1h | 0.1131 | +0.142% | $70K | $275K | 50x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | −0.867% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGOlong | +0.0100% | 1h | 0.1130 | long leg | $3.8M | $2.0M | 5x | |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1129 | −0.108% | $45K | $40K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1128 | −0.143% | $9.9M | $34.6M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1128 | −0.195% | $11.8M | $12.5M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1128 | −0.186% | $2.9M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1128 | −0.124% | $875K | $899K | 50x | as long as short |
Deribit ALGO_USDC-PERPETUAL
gTrade (Gains Network) ALGO/USD
Coinbase International ALGO-PERP-INTX
Injective ALGO/USDC PERP
Aster ALGOUSDT
Binance ALGOUSDT
Bybit ALGOUSDT
OKX ALGO-USDT-SWAP
Gate ALGO_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1128 | −0.159% | $23.1M | $3.0M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1128 | −0.159% | $3.6M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1128 | −0.159% | $5.6M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1127 | −0.230% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1129 | −0.064% | $62K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1129 | −0.027% | $60K | $140K | 75x | as long as short |
| Phemex ALGOUSDTshort | +0.0101% | 8h | 0.1131 | +0.106% | $3.8M | $1.8M | 50x | |
| Extended ALGO-USD | +0.0104% | 1h | 0.1128 | −0.171% | $4K | $227K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1128 | −0.133% | $491K | $918K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0344% / S −0.0313% | 1h | 0.1129 | −0.029% | $7K | — | 100x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0350% | 1h | 0.1130 | +0.016% | $836K | $1.0M | 50x | as long as short |
| dYdX ALGO-USD | +0.2046% | 1h | 0.1128 | −0.153% | $163K | $4K | 5x | as long as short |
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
Variational Omni ALGO
HTX ALGO-USDT
Extended ALGO-USD
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
Kraken Futures PF_ALGOUSD
dYdX ALGO-USD