Funding you earn now, next payment 00:00 UTC−0.0218%/8h= −23.9% APRpaid last 24h −0.039%
Price spread now: Coinbase International against Phemex−0.669%7-day average −0.195% · you buy dearer than you sell
Net, funding: paid 7d − costs−$136as in the Funding arb table
Net, price: spread back to 7d avg − costs−$141as in the Price arb table
costs, in and out, $10k−$940.941% of the position
Funding, last 7 days−0.423%−$42 on $10k
+Price spread, last 3 days (all we have)+0.470%+$47 · spread now −0.669%, 7d avg −0.195%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Coinbase International is 0.474% cheaper against Phemex than usual: you would sell low and buy high (−$47 if the spread goes back to its 7-day average of −0.195%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ALGOUSDT | 0.1121 | 0.0114 | pay 0.0114% / 8h | 7h 09m | $3.8M | $1.8M | 50x |
| Short | Coinbase International ALGO-PERP-INTX | 0.1114 | −0.0104 | pay 0.0013% / 1h | 9m 58s | $87K | $271K | 50x |
Phemex ALGOUSDT
Coinbase International ALGO-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Phemex. 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
- −$45.87
- Price spread: −0.669% → −0.195%
- −$47.42
- Slippage, 4 orders
- −$72.06
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$187.34
- Costs to cover
- 0.941%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; Coinbase International: live order book, 63 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 Phemex live order book, 4 min ago | 13.34 bp | 29.4 bp −$29 | 63.0 bp −$630 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 63 min ago | 8.46 bp | 14.3 bp −$14 | 22.9 bp −$229 | 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_ALGOUSD | −0.0566% | 1h | 0.1119 | −0.146% | $831K | $1.1M | 50x | as long as short |
| Deribit ALGO_USDC-PERPETUAL | −0.0196% | 1h | 0.1119 | −0.143% | $101K | $49K | 25x | as long as short |
| Coinbase International ALGO-PERP-INTXshort | −0.0104% | 1h | 0.1114 | −0.669% | $87K | $271K | 50x | |
| Variational Omni ALGO | −0.0074% | 8h | 0.1119 | −0.204% | $61K | $12K | — | as long as short |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1120 | −0.103% | $6K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | −0.089% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1121 | −0.036% | $3.7M | $1.8M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1120 | −0.131% | $44K | $38K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1119 | −0.134% | $10.0M | $34.6M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1119 | −0.161% | $11.4M | $11.9M | 75x | as long as short |
Kraken Futures PF_ALGOUSD
Deribit ALGO_USDC-PERPETUAL
Variational Omni ALGO
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
Hyperliquid ALGO
Aster ALGOUSDT
Binance ALGOUSDT
Bybit 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% | $2.9M | $7.5M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1120 | −0.116% | $878K | $828K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1120 | −0.125% | $23.0M | $3.0M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1120 | −0.089% | $3.6M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1119 | −0.178% | $5.6M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1120 | −0.107% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1119 | −0.178% | $61K | $142K | 75x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1120 | −0.120% | $8K | $233K | 10x | as long as short |
| Phemex ALGOUSDTlong | +0.0114% | 8h | 0.1121 | long leg | $3.8M | $1.8M | 50x | |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1119 | −0.152% | $492K | $768K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0342% / S −0.0351% | 1h | 0.1120 | −0.111% | $7K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1407% | 1h | 0.1120 | −0.106% | $160K | $3K | 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
Extended ALGO-USD
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD