Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h −0.031%

Price spread now: gTrade (Gains Network) against Phemex+0.093%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.093% dearer against Phemex than usual: you sell high and buy low (spread +0.093% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ALGOUSDT	0.1112	0.0100	pay 0.0100% / 8h	6h 00m	$3.8M	$1.8M	50x
Short	gTrade (Gains Network) ALGO/USD	0.1113	L −0.0001% / S +0.0003%	pay 0.0000% / 1h	0m 02s	$17K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.093%Rate

Funding earned: −$21.61
Price spread: +0.093% → 0.000%: $9.26
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$34.35
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; gTrade (Gains Network): no order-book sample. 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 Phemex live order book, 4 min ago	8.94 bp	25.0 bp −$25	67.5 bp −$675	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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 21 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	−0.0560%	1h	0.1110	−0.144%	$101K	$49K	25x	as long as short
Coinbase International ALGO-PERP-INTX	−0.0064%	1h	0.1120	+0.728%	$71K	$285K	50x	as long as short
gTrade (Gains Network) ALGO/USDshort	L −0.0001% / S +0.0003%	1h	0.1113	+0.093%	$17K	—	150x
Injective ALGO/USDC PERP	+0.0033%	1h	0.1120	+0.719%	$834	$233K	12x	as long as short
Variational Omni ALGO	+0.0067%	8h	0.1113	+0.081%	$61K	$12K	—	as long as short
Hyperliquid ALGO	+0.0100%	1h	0.1112	+0.027%	$3.7M	$2.0M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	0.1112	−0.017%	$44K	$41K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	0.1110	−0.162%	$9.8M	$34.6M	75x	as long as short
Bybit ALGOUSDT	+0.0100%	8h	0.1111	−0.108%	$11.4M	$12.2M	75x	as long as short
OKX ALGO-USDT-SWAP	+0.0100%	8h	0.1111	−0.090%	$2.9M	$7.6M	50x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ALGO_USDT	+0.0100%	8h	0.1111	−0.090%	$868K	$861K	50x	as long as short
MEXC ALGO_USDT	+0.0100%	8h	0.1109	−0.234%	$22.7M	$3.0M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	0.1111	−0.126%	$3.5M	$1.5M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	0.1111	−0.090%	$5.6M	$3.5M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	0.1110	−0.144%	—	$3.3M	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	0.1113	+0.108%	$60K	$140K	75x	as long as short
Phemex ALGOUSDTlong	+0.0100%	8h	0.1112	long leg	$3.8M	$1.8M	50x
Extended ALGO-USD	+0.0104%	1h	0.1111	−0.098%	$4K	$232K	10x	as long as short
Kraken Futures PF_ALGOUSD	+0.0263%	1h	0.1111	−0.124%	$823K	$1.1M	50x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0342% / S −0.0313%	1h	0.1113	+0.070%	$7K	—	100x	as long as short
dYdX ALGO-USD	+0.1614%	1h	0.1114	+0.197%	$161K	$4K	5x	as long as short