Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.017%
Price spread now: Kraken Futures against Coinbase International−0.171%7-day average +0.105% · you buy dearer than you sell
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$105as in the Price arb table
costs, in and out, $10k−$780.777% of the position
Funding, last 7 days+0.024%+$2 on $10k
+Price spread, last 4 days (all we have)+0.397%+$40 · spread now −0.171%, 7d avg +0.105%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.276% cheaper against Coinbase International than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of +0.105%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International ALGO-PERP-INTX | 0.1106 | 0.0144 | pay 0.0018% / 1h | 4m 09s | $62K | $248K | 50x |
| Short | Kraken Futures PF_ALGOUSD | 0.1104 | 0.0112 | get 0.0014% / 1h | 4m 09s | $820K | $1.1M | 50x |
Coinbase International ALGO-PERP-INTX
Kraken Futures PF_ALGOUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$6.73
- Price spread: −0.171% → +0.105%
- −$27.56
- Slippage, 4 orders
- −$57.75
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$112.03
- Costs to cover
- 0.777%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 44 min ago; Kraken Futures: 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 Coinbase International live order book, 44 min ago | 9.07 bp | 15.0 bp −$15 | 19.9 bp −$199 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 7.69 bp | 25.7 bp −$26 | 49.5 bp −$495 | 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 | −0.226% | $87K | $44K | 25x | as long as short |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1104 | −0.166% | $16K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +1.257% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1105 | −0.072% | $3.4M | $2.3M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1104 | −0.222% | $44K | $37K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1104 | −0.196% | $9.4M | $34.6M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1102 | −0.344% | $11.0M | $12.6M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1104 | −0.199% | $2.7M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1105 | −0.118% | $835K | $935K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1104 | −0.181% | $23.0M | $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
Bybit 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 | −0.172% | $3.5M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1104 | −0.190% | $5.5M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1103 | −0.244% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1104 | −0.225% | $60K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1104 | −0.217% | $60K | $135K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1106 | −0.009% | $3.7M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1103 | −0.295% | $7K | $196K | 10x | as long as short |
| Kraken Futures PF_ALGOUSDshort | +0.0112% | 1h | 0.1104 | −0.171% | $820K | $1.1M | 50x | |
| Coinbase International ALGO-PERP-INTXlong | +0.0144% | 1h | 0.1106 | long leg | $62K | $248K | 50x | |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1104 | −0.208% | $465K | $877K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0318% / S −0.0264% | 1h | 0.1104 | −0.182% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1280% | 1h | 0.1105 | −0.137% | $159K | $5K | 5x | as long as short |
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
Variational Omni ALGO
HTX ALGO-USDT
Phemex ALGOUSDT
Extended ALGO-USD
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD