ALGO

Alert

Funding spread now, next payment 15:00 UTC+0.0220%/8h

next payment, per $10,000+$0.28paid, last 24h−0.024%paid, last 7 days+0.062%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.062% in total (about 3.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ALGO/USDC PERP	0.1154	−0.0120	get 0.0015% / 1h	50m 34s	$859	$100K	12x
Short	Hyperliquid ALGO	0.1139	0.0100	get 0.0013% / 1h	50m 34s	$3.8M	$3.0M	5x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee HyperliquidbpOrdersRate

Funding earned: $46.27
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $37.25
Break-even: 1.4 days

Slippage unknown: Injective: no order-book sample; Hyperliquid: live order book, 2 min ago. Net counts fees only.

Price risk

price view

Price gap now: −1.274%
Avg gap 7d: +0.826%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Injective no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 2 min ago	1.32 bp	11.9 bp −$12	doesn't fit	doesn't fit	doesn't fit

Injective: 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 22 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_ALGOUSD	−0.1337%	1h	$871K	$1.9M	50x	as long as short
Deribit ALGO_USDC-PERPETUAL	−0.0367%	1h	$103K	$60K	25x	as long as short
Injective ALGO/USDC PERPlong	−0.0120%	1h	$859	$100K	12x
gTrade (Gains Network) ALGO/USD	L +0.0001% / S +0.0003%	1h	$7K	—	150x	as long as short
Coinbase International ALGO-PERP-INTX	+0.0016%	1h	$69K	$505K	50x	as long as short
dYdX ALGO-USD	+0.0071%	1h	$163K	$6K	5x	as long as short
Hyperliquid ALGOshort	+0.0100%	1h	$3.8M	$3.0M	5x
Aster ALGOUSDT	+0.0100%	8h	$43K	$93K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	$10.6M	$42.6M	75x	as long as short
Bybit ALGOUSDT	+0.0100%	8h	$11.8M	$14.3M	75x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
OKX ALGO-USDT-SWAP	+0.0100%	8h	$3.1M	$11.2M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	$860K	$1.2M	50x	as long as short
MEXC ALGO_USDT	+0.0100%	8h	$21.9M	$4.2M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	$3.7M	$1.9M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	$5.7M	$4.5M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	—	$3.3M	—	as long as short
Variational Omni ALGO	+0.0100%	8h	$62K	$193K	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	$67K	$129K	75x	as long as short
Phemex ALGOUSDT	+0.0100%	8h	$4.0M	$2.1M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	$13K	$248K	10x	as long as short
BloFin ALGO-USDT	+0.0220%	8h	$534K	$746K	75x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0239% / S −0.0167%	1h	$5K	—	100x	as long as short