Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.030%
Price spread now: Injective against Binance+0.561%57s7-day average −0.577% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.052%−$5 on $10k
+Price spread, last 3 days (all we have)−1.051%−$105 · spread now +0.561%, 7d avg −0.577%
=The price spread pays, funding is against you. Injective is 1.138% dearer against Binance than usual: you sell high and buy low (spread +0.561% now, against its 7-day average of −0.577%): +$114 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 57 days. At the pace of the last 7 days (−0.052% in total) that is about 5 months. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ALGOUSDT | 0.1114 | 0.0100 | pay 0.0100% / 8h | 6h 44m | $9.9M | $35.0M | 75x |
| Short | Injective ALGO/USDC PERP | 0.1120 | 0.0033 | get 0.0004% / 1h | 44m 21s | $834 | $233K | 12x |
Binance ALGOUSDT
Injective ALGO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Binance. 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
- −$14
- Price spread: +0.561% → −0.577%
- $113.85
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $89.83
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Binance: live order book, 12 min ago; Injective: 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 Binance live order book, 12 min ago | 0.91 bp | 12.6 bp −$13 | 30.7 bp −$307 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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: 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International ALGO-PERP-INTX | −0.0064% | 1h | 0.1113 | −0.112% | $86K | $273K | 50x | as long as short |
| Variational Omni ALGO | −0.0029% | 8h | 0.1111 | −0.209% | $61K | $12K | — | as long as short |
| Deribit ALGO_USDC-PERPETUAL | 0.0000% | 1h | 0.1114 | +0.022% | $101K | $49K | 25x | as long as short |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1114 | −0.002% | $6K | — | 150x | as long as short |
| Injective ALGO/USDC PERPshort | +0.0033% | 1h | 0.1120 | +0.561% | $834 | $233K | 12x | |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1115 | +0.130% | $3.6M | $2.0M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1113 | −0.112% | $44K | $38K | 5x | as long as short |
| Binance ALGOUSDTlong | +0.0100% | 8h | 0.1114 | long leg | $9.9M | $35.0M | 75x | |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1114 | −0.014% | $11.4M | $12.3M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1114 | +0.013% | $2.9M | $7.6M | 50x | as long as short |
Coinbase International ALGO-PERP-INTX
Variational Omni ALGO
Deribit ALGO_USDC-PERPETUAL
gTrade (Gains Network) ALGO/USD
Hyperliquid ALGO
Aster ALGOUSDT
Bybit ALGOUSDT
OKX ALGO-USDT-SWAPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ALGO_USDT | +0.0100% | 8h | 0.1112 | −0.121% | $872K | $843K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1114 | −0.005% | $22.8M | $3.0M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1114 | −0.014% | $3.5M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1114 | +0.022% | $5.6M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1113 | −0.049% | — | $3.4M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1112 | −0.121% | $60K | $144K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1113 | −0.067% | $3.8M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1113 | −0.023% | $8K | $229K | 10x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1117 | +0.265% | $489K | $801K | 75x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0262% | 1h | 0.1115 | +0.115% | $827K | $1.1M | 50x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0342% / S −0.0313% | 1h | 0.1114 | +0.010% | $7K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1513% | 1h | 0.1112 | −0.160% | $160K | $4K | 5x | as long as short |
Gate ALGO_USDT
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
HTX ALGO-USDT
Phemex ALGOUSDT
Extended ALGO-USD
BloFin ALGO-USDT
Kraken Futures PF_ALGOUSD
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD