Funding you earn now, next payment 23:00 UTC−0.0435%/8h= −47.6% APRnext payment −$0.54 per $10,000 · paid last 24h −0.092%
Price spread now: Deribit against Coinbase International+0.678%7-day average +0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$137as in the Funding arb table
Net, price: spread back to 7d avg − costs+$7as in the Price arb table
costs, in and out, $10k−$570.570% of the position
Funding, last 7 days−0.798%−$80 on $10k
+Price spread, last 3 days (all we have)−0.550%−$55 · spread now +0.678%, 7d avg +0.040%
=The price spread pays, funding is against you. Deribit is 0.638% dearer against Coinbase International than usual: you sell high and buy low (spread +0.678% now, against its 7-day average of +0.040%): +$64 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 4.9 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International ALGO-PERP-INTX | 0.1121 | −0.0112 | get 0.0014% / 1h | 46m 22s | $62K | $332K | 50x |
| Short | Deribit ALGO_USDC-PERPETUAL | 0.1128 | −0.0547 | pay 0.0068% / 1h | 46m 22s | $102K | $50K | 25x |
Coinbase International ALGO-PERP-INTX
Deribit ALGO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Coinbase International. 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
- −$91.35
- Price spread: +0.678% → +0.040%
- $63.85
- Slippage, 4 orders
- −$40.03
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$84.53
- Costs to cover
- 0.570%
- Break-even
- from the start
Slippage from Coinbase International: live order book, 32 min ago; Deribit: live order book, 32 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 Coinbase International live order book, 32 min ago | 6.25 bp | 12.1 bp −$12 | 17.7 bp −$177 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 32 min ago | 4.91 bp | 14.6 bp −$15 | 23.7 bp −$237 | 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-PERPETUALshort | −0.0547% | 1h | 0.1128 | +0.678% | $102K | $50K | 25x | |
| Kraken Futures PF_ALGOUSD | −0.0157% | 1h | 0.1129 | +0.743% | $840K | $1.2M | 50x | as long as short |
| Coinbase International ALGO-PERP-INTXlong | −0.0112% | 1h | 0.1121 | long leg | $62K | $332K | 50x | |
| Bybit ALGOUSDT | −0.0095% | 8h | 0.1129 | +0.776% | $11.3M | $12.2M | 75x | as long as short |
| Variational Omni ALGO | −0.0080% | 8h | 0.1127 | +0.545% | $65K | $10K | — | as long as short |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1131 | +0.928% | $6K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0026% | 1h | 0.1120 | −0.054% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1132 | +1.044% | $3.8M | $1.9M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1130 | +0.833% | $45K | $36K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1130 | +0.857% | $10.0M | $34.7M | 75x | as long as short |
Kraken Futures PF_ALGOUSD
Bybit ALGOUSDT
Variational Omni ALGO
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
Hyperliquid ALGO
Aster ALGOUSDT
Binance 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 | 0.1130 | +0.866% | $3.0M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1130 | +0.812% | $892K | $834K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1130 | +0.875% | $23.2M | $2.9M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1130 | +0.839% | $3.6M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1130 | +0.839% | $5.7M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1130 | +0.803% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1129 | +0.723% | $67K | $109K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1131 | +0.928% | $3.9M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1130 | +0.845% | $7K | $210K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1128 | +0.634% | $489K | $797K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0314% / S −0.0298% | 1h | 0.1131 | +0.931% | $7K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1597% | 1h | 0.1131 | +0.908% | $162K | $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
Phemex ALGOUSDT
Extended ALGO-USD
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD