Funding you earn now, next payment 16:00 UTC+0.0345%/8h= +37.7% APRnext payment +$3.45 per $10,000 · paid last 24h +0.025%
Price spread now: OKX against Bybit+0.064%7-day average +0.020% · 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−$46as in the Price arb table
costs, in and out, $10k−$500.501% of the position
Funding, last 7 days−0.014%−$1 on $10k
+Price spread, last 7 days−0.007%−$1 · spread now +0.064%, 7d avg +0.020%
=Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and OKX is 0.043% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.020%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.014% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.45 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ALGOUSDT | 0.1097 | −0.0317 | get 0.0317% / 8h | 5h 47m | $10.6M | $13.3M | 75x |
| Short | OKX ALGO-USDT-SWAP | 0.1098 | 0.0028 | get 0.0028% / 8h | 5h 47m | $2.6M | $7.8M | 50x |
Bybit ALGOUSDT
OKX ALGO-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Bybit. 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
- $72.39
- Price spread: +0.064% → +0.020%
- $4.34
- Slippage, 4 orders
- −$29.07
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- $26.67
- Costs to cover
- 0.501%
- Break-even
- 4.4 days
Slippage from Bybit: live order book, 4 min ago; OKX: 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 Bybit live order book, 4 min ago | 0.91 bp | 12.2 bp −$12 | 35.5 bp −$355 | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 0.46 bp | 8.5 bp −$9 | 52.1 bp −$521 | doesn't fit | doesn't fit |
ALGO on 22 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit ALGOUSDTlong | −0.0317% | 8h | 0.1097 | long leg | $10.6M | $13.3M | 75x | |
| Kraken Futures PF_ALGOUSD | −0.0313% | 1h | 0.1098 | +0.064% | $807K | $1.1M | 50x | as long as short |
| Deribit ALGO_USDC-PERPETUAL | −0.0296% | 1h | 0.1098 | +0.046% | $86K | $41K | 25x | as long as short |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1098 | +0.042% | $16K | — | 150x | as long as short |
| Variational Omni ALGO | +0.0017% | 8h | 0.1098 | +0.038% | $59K | $13K | — | as long as short |
| OKX ALGO-USDT-SWAPshort | +0.0028% | 8h | 0.1098 | +0.064% | $2.6M | $7.8M | 50x | |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +2.069% | $834 | $233K | 12x | as long as short |
| Coinbase International ALGO-PERP-INTX | +0.0088% | 1h | 0.1105 | +0.738% | $63K | $176K | 50x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1098 | +0.082% | $3.4M | $2.3M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1098 | +0.075% | $44K | $37K | 5x | as long as short |
Kraken Futures PF_ALGOUSD
Deribit ALGO_USDC-PERPETUAL
gTrade (Gains Network) ALGO/USD
Variational Omni ALGO
Injective ALGO/USDC PERP
Coinbase International ALGO-PERP-INTX
Hyperliquid ALGO
Aster ALGOUSDTShow all 22 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ALGOUSDT | +0.0100% | 8h | 0.1098 | +0.082% | $9.2M | $33.7M | 75x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1096 | −0.082% | $826K | $880K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1097 | −0.009% | $23.5M | $3.2M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1098 | +0.082% | $3.4M | $1.4M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1098 | +0.064% | $5.4M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1097 | −0.055% | — | $3.4M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1097 | +0.009% | $57K | $129K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1099 | +0.155% | $3.7M | $1.7M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1098 | +0.094% | $4K | $179K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1098 | +0.027% | $472K | $807K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0316% / S −0.0264% | 1h | 0.1098 | +0.070% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1375% | 1h | 0.1099 | +0.150% | $159K | $5K | 5x | as long as short |
Binance ALGOUSDT
Gate ALGO_USDT
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
HTX ALGO-USDT
Phemex ALGOUSDT
Extended ALGO-USD
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD