Funding you earn now, next payment 01:00 UTC+0.0666%/8h= +73.0% APRpaid last 24h +0.034%
Price spread now: Phemex against Kraken Futures+0.222%7-day average +0.071% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$78as in the Price arb table
costs, in and out, $10k−$930.931% of the position
Funding, last 7 days+0.422%+$42 on $10k
+Price spread, last 3 days (all we have)−0.231%−$23 · spread now +0.222%, 7d avg +0.071%
=Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Phemex is 0.151% dearer against Kraken Futures than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.071%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.422% in total (about 22.0% a year). A funding rate is set anew for every payment. 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 | Kraken Futures PF_ALGOUSD | 0.1119 | −0.0566 | get 0.0071% / 1h | 54m 39s | $833K | $1.1M | 50x |
| Short | Phemex ALGOUSDT | 0.1121 | 0.0100 | get 0.0100% / 8h | 7h 54m | $3.8M | $1.8M | 50x |
Kraken Futures PF_ALGOUSD
Phemex ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Kraken Futures. 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
- $139.91
- Price spread: +0.222% → +0.071%
- $15.13
- Slippage, 4 orders
- −$71.13
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $61.91
- Costs to cover
- 0.931%
- Break-even
- 3.9 days
Slippage from Kraken Futures: live order book, 4 min ago; Phemex: live order book, 4 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 Kraken Futures live order book, 4 min ago | 11.56 bp | 20.6 bp −$21 | 40.1 bp −$401 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 4.45 bp | 20.4 bp −$20 | 58.9 bp −$589 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ALGOUSDlong | −0.0566% | 1h | 0.1119 | long leg | $833K | $1.1M | 50x | |
| Deribit ALGO_USDC-PERPETUAL | −0.0467% | 1h | 0.1116 | −0.261% | $101K | $50K | 25x | as long as short |
| Bybit ALGOUSDT | −0.0267% | 8h | 0.1122 | +0.303% | $11.3M | $12.0M | 75x | as long as short |
| Variational Omni ALGO | −0.0135% | 8h | 0.1122 | +0.276% | $62K | $12K | — | as long as short |
| Coinbase International ALGO-PERP-INTX | −0.0104% | 1h | 0.1117 | −0.153% | $67K | $303K | 50x | as long as short |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1117 | −0.152% | $6K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +0.133% | $834 | $233K | 12x | as long as short |
| Extended ALGO-USD | +0.0096% | 1h | 0.1122 | +0.354% | $7K | $208K | 10x | as long as short |
| Binance ALGOUSDT | +0.0098% | 8h | 0.1122 | +0.351% | $10.0M | $34.4M | 75x | as long as short |
| MEXC ALGO_USDT | +0.0099% | 8h | 0.1122 | +0.338% | $23.1M | $2.9M | 200x | as long as short |
Deribit ALGO_USDC-PERPETUAL
Bybit ALGOUSDT
Variational Omni ALGO
Coinbase International ALGO-PERP-INTX
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
Extended ALGO-USD
Binance ALGOUSDT
MEXC ALGO_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid ALGO | +0.0100% | 1h | 0.1123 | +0.356% | $3.7M | $1.8M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1122 | +0.279% | $44K | $37K | 5x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1123 | +0.410% | $3.0M | $7.5M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1123 | +0.356% | $882K | $809K | 50x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1123 | +0.428% | $3.6M | $1.4M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1124 | +0.490% | $5.7M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1123 | +0.419% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1117 | −0.144% | $66K | $108K | 75x | as long as short |
| Phemex ALGOUSDTshort | +0.0100% | 8h | 0.1121 | +0.222% | $3.8M | $1.8M | 50x | |
| BloFin ALGO-USDT | +0.0219% | 8h | 0.1115 | −0.314% | $488K | $787K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0336% / S −0.0342% | 1h | 0.1116 | −0.195% | $7K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1524% | 1h | 0.1121 | +0.232% | $161K | $3K | 5x | as long as short |
Hyperliquid ALGO
Aster ALGOUSDT
OKX ALGO-USDT-SWAP
Gate ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
HTX ALGO-USDT
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD