Funding you earn now, next payment 23:00 UTC+0.0171%/8h= +18.8% APRpaid last 24h +0.016%
Price spread now: Bybit against Injective+0.125%98s7-day average +0.553% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.036%+$4 on $10k
+Price spread, last 3 days (all we have)+0.221%+$22 · spread now +0.125%, 7d avg +0.553%
=Funding pays, the price is against you. Bybit is 0.428% cheaper against Injective than usual: you would sell low and buy high (spread +0.125% now, against its 7-day average of +0.553%). If the spread goes back, that is −$43 on $10k: about 8.3 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.036% in total) that is about 3 months. The two prices were read 98 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 | Injective ALGO/USDC PERP | 0.1117 | −0.0295 | get 0.0037% / 1h | 53m 38s | $832 | $202K | 12x |
| Short | Bybit ALGOUSDT | 0.1118 | −0.0124 | pay 0.0124% / 8h | 1h 53m | $11.3M | $12.2M | 75x |
Injective ALGO/USDC PERP
Bybit ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- $35.97
- Price spread: +0.125% → +0.553%
- −$42.8
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$17.85
- Costs to cover
- 0.110%
- Break-even
- 10.5 days
Slippage unknown: Injective: no order-book sample; Bybit: 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 Injective no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 5 min ago | 0.90 bp | 12.5 bp −$13 | 35.9 bp −$359 | doesn't fit | doesn't fit |
Injective: 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-PERPETUAL | −0.0731% | 1h | 0.1120 | +0.313% | $101K | $50K | 25x | as long as short |
| Injective ALGO/USDC PERPlong | −0.0295% | 1h | 0.1117 | long leg | $832 | $202K | 12x | |
| Kraken Futures PF_ALGOUSD | −0.0287% | 1h | 0.1121 | +0.401% | $842K | $1.1M | 50x | as long as short |
| Bybit ALGOUSDTshort | −0.0124% | 8h | 0.1118 | +0.125% | $11.3M | $12.2M | 75x | |
| Variational Omni ALGO | −0.0098% | 8h | 0.1120 | +0.287% | $65K | $10K | — | as long as short |
| Coinbase International ALGO-PERP-INTX | −0.0056% | 1h | 0.1118 | +0.107% | $62K | $331K | 50x | as long as short |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1122 | +0.432% | $6K | — | 150x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1121 | +0.362% | $3.7M | $1.9M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1121 | +0.382% | $44K | $31K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1119 | +0.208% | $9.9M | $34.7M | 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
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 | 0.1119 | +0.134% | $3.0M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1120 | +0.251% | $881K | $843K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1119 | +0.206% | $23.0M | $2.8M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1120 | +0.295% | $3.6M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1119 | +0.179% | $5.6M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1118 | +0.072% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1121 | +0.394% | $66K | $108K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1122 | +0.448% | $3.8M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1119 | +0.190% | $7K | $210K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1121 | +0.322% | $490K | $791K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0238% / S −0.0158% | 1h | 0.1121 | +0.403% | $5K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1721% | 1h | 0.1122 | +0.452% | $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