Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.025%
Price spread now: Phemex against Bybit+0.254%7-day average +0.201% · you sell dearer than you buy
Net, funding: paid 7d − costs−$67as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$790.789% of the position
Funding, last 7 days+0.123%+$12 on $10k
+Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.254%, 7d avg +0.201%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.053% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.201%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ALGOUSDT | 0.1102 | 0.0100 | pay 0.0100% / 8h | 2h 03m | $11.0M | $12.6M | 75x |
| Short | Phemex ALGOUSDT | 0.1105 | 0.0100 | get 0.0100% / 8h | 2h 03m | $3.7M | $1.8M | 50x |
Bybit ALGOUSDT
Phemex ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $0
- Price spread: +0.254% → +0.201%
- $5.32
- Slippage, 4 orders
- −$55.92
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$73.6
- Costs to cover
- 0.789%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; Phemex: live order book, 6 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, 5 min ago | 2.27 bp | 14.5 bp −$14 | 53.7 bp −$537 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 6 min ago | 4.51 bp | 24.1 bp −$24 | 58.0 bp −$580 | 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-PERPETUAL | −0.0022% | 1h | 0.1104 | +0.118% | $87K | $44K | 25x | as long as short |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1104 | +0.153% | $16K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +1.615% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1105 | +0.265% | $3.4M | $2.3M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1103 | +0.065% | $44K | $37K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1103 | +0.100% | $9.4M | $34.6M | 75x | as long as short |
| Bybit ALGOUSDTlong | +0.0100% | 8h | 0.1102 | long leg | $11.0M | $12.6M | 75x | |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1104 | +0.136% | $2.7M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1104 | +0.163% | $835K | $935K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1103 | +0.100% | $23.1M | $3.2M | 200x | as long as short |
Deribit ALGO_USDC-PERPETUAL
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
Hyperliquid ALGO
Aster ALGOUSDT
Binance ALGOUSDT
OKX ALGO-USDT-SWAP
Gate ALGO_USDT
MEXC ALGO_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1104 | +0.136% | $3.5M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1104 | +0.163% | $5.5M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1103 | +0.082% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1104 | +0.128% | $60K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1103 | +0.109% | $60K | $135K | 75x | as long as short |
| Phemex ALGOUSDTshort | +0.0100% | 8h | 0.1105 | +0.254% | $3.7M | $1.8M | 50x | |
| Extended ALGO-USD | +0.0104% | 1h | 0.1103 | +0.071% | $7K | $196K | 10x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0112% | 1h | 0.1104 | +0.161% | $820K | $1.1M | 50x | as long as short |
| Coinbase International ALGO-PERP-INTX | +0.0144% | 1h | 0.1106 | +0.354% | $62K | $248K | 50x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1104 | +0.118% | $468K | $877K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0318% / S −0.0264% | 1h | 0.1104 | +0.160% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1283% | 1h | 0.1104 | +0.122% | $159K | $5K | 5x | as long as short |
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
Variational Omni ALGO
HTX ALGO-USDT
Extended ALGO-USD
Kraken Futures PF_ALGOUSD
Coinbase International ALGO-PERP-INTX
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD