Funding you earn now, next payment 04:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.030%
Price spread now: Phemex against Injective−0.536%7-day average +0.721% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.138%+$14 on $10k
+Price spread, last 4 days (all we have)+1.150%+$115 · spread now −0.536%, 7d avg +0.721%
=Funding pays, the price is against you. Phemex is 1.256% cheaper against Injective than usual: you would sell low and buy high (spread −0.536% now, against its 7-day average of +0.721%). If the spread goes back, that is −$126 on $10k: about 48 days of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective ALGO/USDC PERP | 0.1120 | 0.0033 | pay 0.0004% / 1h | 24m 59s | $834 | $233K | 12x |
| Short | Phemex ALGOUSDT | 0.1114 | 0.0121 | get 0.0121% / 8h | 4h 24m | $3.8M | $1.8M | 50x |
Injective ALGO/USDC PERP
Phemex ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $18.47
- Price spread: −0.536% → +0.721%
- −$125.64
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$119.19
- Costs to cover
- 0.120%
- Break-even
- 52.2 days
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 4 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 Phemex live order book, 4 min ago | 4.49 bp | 18.4 bp −$18 | 68.2 bp −$682 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1111 | −0.821% | $16K | — | 150x | as long as short |
| Deribit ALGO_USDC-PERPETUAL | 0.0000% | 1h | 0.1111 | −0.795% | $88K | $44K | 25x | as long as short |
| Injective ALGO/USDC PERPlong | +0.0033% | 1h | 0.1120 | long leg | $834 | $233K | 12x | |
| Coinbase International ALGO-PERP-INTX | +0.0080% | 1h | 0.1116 | −0.321% | $88K | $290K | 50x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1111 | −0.804% | $3.6M | $2.1M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1111 | −0.844% | $44K | $38K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1110 | −0.911% | $9.6M | $34.6M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1109 | −0.991% | $11.1M | $12.6M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1110 | −0.902% | $2.8M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1110 | −0.875% | $863K | $905K | 50x | as long as short |
gTrade (Gains Network) ALGO/USD
Deribit ALGO_USDC-PERPETUAL
Coinbase International ALGO-PERP-INTX
Hyperliquid ALGO
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 | 0.1110 | −0.920% | $23.0M | $3.1M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1110 | −0.884% | $3.5M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1110 | −0.893% | $5.5M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1110 | −0.875% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1109 | −1.014% | $61K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1110 | −0.866% | $60K | $136K | 75x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1110 | −0.908% | $6K | $231K | 10x | as long as short |
| Phemex ALGOUSDTshort | +0.0121% | 8h | 0.1114 | −0.536% | $3.8M | $1.8M | 50x | |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1111 | −0.804% | $477K | $876K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0318% / S −0.0264% | 1h | 0.1111 | −0.788% | $6K | — | 100x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0377% | 1h | 0.1112 | −0.751% | $821K | $1.0M | 50x | as long as short |
| dYdX ALGO-USD | +0.0912% | 1h | 0.1111 | −0.822% | $160K | $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