Funding you earn now, next payment 06:00 UTC+0.0309%/8h= +33.8% APRpaid last 24h +0.115%
Price spread now: Phemex against Deribit+0.109%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+1.164%+$116 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Phemex is 0.109% dearer against Deribit than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit ALGO_USDC-PERPETUAL | 0.1105 | −0.0202 | get 0.0025% / 1h | 8m 43s | $87K | $44K | 25x |
| Short | Phemex ALGOUSDT | 0.1106 | 0.0107 | get 0.0107% / 8h | 2h 08m | $3.7M | $1.8M | 50x |
Deribit ALGO_USDC-PERPETUAL
Phemex ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Deribit. 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
- $64.89
- Price spread: +0.109% → 0.000%
- $10.86
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $56.75
- Costs to cover
- 0.190%
- Break-even
- 0.9 days
Slippage unknown: Deribit: no order-book sample; Phemex: live order book, 5 min ago. 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 5 min ago | 4.53 bp | 22.7 bp −$23 | 70.1 bp −$701 | doesn't fit | doesn't fit |
Deribit: 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit ALGO_USDC-PERPETUALlong | −0.0202% | 1h | 0.1105 | long leg | $87K | $44K | 25x | |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1106 | +0.078% | $16K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +1.376% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1105 | −0.027% | $3.4M | $2.3M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1105 | −0.025% | $44K | $37K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1105 | −0.027% | $9.4M | $34.6M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1104 | −0.100% | $11.0M | $12.6M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1105 | −0.009% | $2.7M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1103 | −0.190% | $833K | $933K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1104 | −0.036% | $23.0M | $3.2M | 200x | as long as short |
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 | −0.063% | $3.4M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1105 | +0.018% | $5.5M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1104 | −0.081% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1103 | −0.140% | $60K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1105 | +0.054% | $60K | $135K | 75x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1105 | −0.019% | $7K | $196K | 10x | as long as short |
| Phemex ALGOUSDTshort | +0.0107% | 8h | 0.1106 | +0.109% | $3.7M | $1.8M | 50x | |
| Kraken Futures PF_ALGOUSD | +0.0112% | 1h | 0.1104 | −0.092% | $820K | $1.1M | 50x | as long as short |
| Coinbase International ALGO-PERP-INTX | +0.0144% | 1h | 0.1106 | +0.118% | $62K | $248K | 50x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1105 | −0.009% | $467K | $885K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0318% / S −0.0264% | 1h | 0.1105 | +0.033% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1315% | 1h | 0.1105 | +0.004% | $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