Funding you earn now, next payment 06:00 UTC−0.0047%/8h= −5.2% APRpaid last 24h −0.047%
Price spread now: Kraken Futures against Phemex−0.254%7-day average −0.079% · you buy dearer than you sell
Net, funding: paid 7d − costs−$167as in the Funding arb table
Net, price: spread back to 7d avg − costs−$146as in the Price arb table
costs, in and out, $10k−$1281.282% of the position
Funding, last 7 days−0.392%−$39 on $10k
+Price spread, last 4 days (all we have)+0.263%+$26 · spread now −0.254%, 7d avg −0.079%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.175% cheaper against Phemex than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.079%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ALGOUSDT | 0.1094 | 0.0161 | pay 0.0161% / 8h | 2h 31m | $3.7M | $1.8M | 50x |
| Short | Kraken Futures PF_ALGOUSD | 0.1091 | 0.0113 | get 0.0014% / 1h | 31m 13s | $820K | $1.1M | 50x |
Phemex ALGOUSDT
Kraken Futures PF_ALGOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$9.93
- Price spread: −0.254% → −0.079%
- −$17.49
- Slippage, 4 orders
- −$106.2
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$155.62
- Costs to cover
- 1.282%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 3 min ago; Kraken Futures: live order book, 2 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, 3 min ago | 9.17 bp | 24.1 bp −$24 | 64.1 bp −$641 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 15.15 bp | 29.1 bp −$29 | 52.9 bp −$529 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ALGO_USDC-PERPETUAL | −0.0300% | 1h | 0.1091 | −0.283% | $86K | $44K | 25x | as long as short |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1091 | −0.252% | $16K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +2.377% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1092 | −0.165% | $3.4M | $2.3M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1091 | −0.229% | $43K | $37K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1091 | −0.229% | $9.4M | $34.9M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1091 | −0.293% | $10.9M | $12.7M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1091 | −0.238% | $2.7M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1090 | −0.347% | $834K | $926K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1091 | −0.265% | $22.6M | $3.2M | 200x | as long as short |
Deribit ALGO_USDC-PERPETUAL
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
Hyperliquid ALGO
Aster ALGOUSDT
Binance ALGOUSDT
Bybit ALGOUSDT
OKX ALGO-USDT-SWAP
Gate ALGO_USDT
MEXC ALGO_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1091 | −0.311% | $3.4M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1091 | −0.274% | $5.4M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1091 | −0.283% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1094 | +0.016% | $60K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1091 | −0.283% | $59K | $135K | 75x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1090 | −0.320% | $4K | $190K | 10x | as long as short |
| Kraken Futures PF_ALGOUSDshort | +0.0113% | 1h | 0.1091 | −0.254% | $820K | $1.1M | 50x | |
| Coinbase International ALGO-PERP-INTX | +0.0144% | 1h | 0.1093 | −0.110% | $62K | $289K | 50x | as long as short |
| Phemex ALGOUSDTlong | +0.0161% | 8h | 0.1094 | long leg | $3.7M | $1.8M | 50x | |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1091 | −0.283% | $471K | $866K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0317% / S −0.0264% | 1h | 0.1091 | −0.256% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1973% | 1h | 0.1091 | −0.261% | $157K | $5K | 5x | as long as short |
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
Variational Omni ALGO
HTX ALGO-USDT
Extended ALGO-USD
Coinbase International ALGO-PERP-INTX
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD