Funding you earn now, next payment 08:00 UTC−0.0120%/8h= −13.1% APRnext payment −$1.20 per $10,000 · paid last 24h −0.036%
Price spread now: Phemex against BloFin+0.117%7-day average +0.164% · you sell dearer than you buy
Net, funding: paid 7d − costs−$98as in the Funding arb table
Net, price: spread back to 7d avg − costs−$86as in the Price arb table
costs, in and out, $10k−$810.815% of the position
Funding, last 7 days−0.165%−$17 on $10k
+Price spread, last 4 days (all we have)+0.013%+$1 · spread now +0.117%, 7d avg +0.164%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phemex is 0.046% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.164%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin ALGO-USDT | 0.1107 | 0.0220 | pay 0.0220% / 8h | 1h 14m | $470K | $874K | 75x |
| Short | Phemex ALGOUSDT | 0.1108 | 0.0100 | get 0.0100% / 8h | 1h 14m | $3.7M | $1.8M | 50x |
BloFin ALGO-USDT
Phemex ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BloFin. 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
- −$25.2
- Price spread: +0.117% → +0.164%
- −$4.64
- Slippage, 4 orders
- −$57.46
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$111.3
- Costs to cover
- 0.815%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 7 min ago; Phemex: 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 BloFin live order book, 7 min ago | 1.36 bp | 11.2 bp −$11 | 24.2 bp −$242 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 4.50 bp | 28.8 bp −$29 | 65.0 bp −$650 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ALGOUSD | −0.0273% | 1h | 0.1106 | −0.037% | $822K | $1.1M | 50x | as long as short |
| Deribit ALGO_USDC-PERPETUAL | −0.0202% | 1h | 0.1106 | −0.099% | $87K | $45K | 25x | as long as short |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1106 | −0.070% | $16K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +1.202% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1107 | +0.045% | $3.4M | $2.3M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1106 | −0.100% | $44K | $36K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1106 | −0.072% | $9.4M | $34.5M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1105 | −0.163% | $10.9M | $12.8M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1105 | −0.117% | $2.7M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1105 | −0.181% | $834K | $944K | 50x | as long as short |
Kraken Futures PF_ALGOUSD
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_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1106 | −0.072% | $23.0M | $3.2M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1105 | −0.127% | $3.5M | $1.4M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1106 | −0.063% | $5.5M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1105 | −0.136% | — | $3.4M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1105 | −0.194% | $60K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1106 | −0.054% | $60K | $135K | 75x | as long as short |
| Phemex ALGOUSDTshort | +0.0100% | 8h | 0.1108 | +0.117% | $3.7M | $1.8M | 50x | |
| Extended ALGO-USD | +0.0104% | 1h | 0.1106 | −0.100% | $4K | $199K | 10x | as long as short |
| Coinbase International ALGO-PERP-INTX | +0.0136% | 1h | 0.1109 | +0.253% | $63K | $195K | 50x | as long as short |
| BloFin ALGO-USDTlong | +0.0220% | 8h | 0.1107 | long leg | $470K | $874K | 75x | |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0318% / S −0.0264% | 1h | 0.1106 | −0.063% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.0916% | 1h | 0.1107 | +0.014% | $160K | $5K | 5x | as long as short |
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
Variational Omni ALGO
HTX ALGO-USDT
Extended ALGO-USD
Coinbase International ALGO-PERP-INTX
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD