Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Phemex against Hyperliquid−0.009%7-day average +0.056% · you buy dearer than you sell
Net, funding: paid 7d − costs−$86as in the Funding arb table
Net, price: spread back to 7d avg − costs−$100as in the Price arb table
costs, in and out, $10k−$940.939% of the position
Funding, last 7 days+0.074%+$7 on $10k
+Price spread, last 3 days (all we have)+0.205%+$21 · spread now −0.009%, 7d avg +0.056%
=Together, before fees+0.280%+ Points / potential airdropHyperliquid: Season 2 · farm board+$28 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.065% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.056%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ALGO | 0.1119 | 0.0100 | pay 0.0013% / 1h | 4m 13s | $3.7M | $2.0M | 5x |
| Short | Phemex ALGOUSDT | 0.1119 | 0.0100 | get 0.0100% / 8h | 6h 04m | $3.8M | $1.8M | 50x |
Hyperliquid ALGO
Phemex ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Hyperliquid. 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: −0.009% → +0.056%
- −$6.5
- Slippage, 4 orders
- −$72.9
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$100.4
- Costs to cover
- 0.939%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 7 min ago; Phemex: live order book, 5 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 Hyperliquid live order book, 7 min ago | 1.79 bp | 12.5 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 8.94 bp | 36.5 bp −$36 | 74.4 bp −$744 | doesn't fit | doesn't fit |
ALGO on 21 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 | −0.0108% | 1h | 0.1116 | −0.232% | $101K | $49K | 25x | as long as short |
| Coinbase International ALGO-PERP-INTX | −0.0064% | 1h | 0.1120 | +0.089% | $71K | $285K | 50x | as long as short |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1117 | −0.201% | $17K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +0.080% | $834 | $233K | 12x | as long as short |
| Variational Omni ALGO | +0.0057% | 8h | 0.1116 | −0.245% | $61K | $12K | — | as long as short |
| Hyperliquid ALGOlong | +0.0100% | 1h | 0.1119 | long leg | $3.7M | $2.0M | 5x | |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1117 | −0.221% | $44K | $41K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1117 | −0.191% | $9.8M | $34.7M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1116 | −0.277% | $11.5M | $12.3M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1117 | −0.214% | $2.9M | $7.7M | 50x | as long as short |
Deribit ALGO_USDC-PERPETUAL
Coinbase International ALGO-PERP-INTX
gTrade (Gains Network) ALGO/USD
Injective ALGO/USDC PERP
Variational Omni ALGO
Aster ALGOUSDT
Binance ALGOUSDT
Bybit ALGOUSDT
OKX ALGO-USDT-SWAPShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ALGO_USDT | +0.0100% | 8h | 0.1117 | −0.188% | $873K | $860K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1117 | −0.206% | $22.9M | $3.0M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1116 | −0.232% | $3.5M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1117 | −0.188% | $5.6M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1116 | −0.232% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1118 | −0.143% | $60K | $140K | 75x | as long as short |
| Phemex ALGOUSDTshort | +0.0100% | 8h | 0.1119 | −0.009% | $3.8M | $1.8M | 50x | |
| Extended ALGO-USD | +0.0104% | 1h | 0.1117 | −0.214% | $4K | $232K | 10x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0262% | 1h | 0.1117 | −0.186% | $827K | $1.1M | 50x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0343% / S −0.0313% | 1h | 0.1116 | −0.239% | $7K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1565% | 1h | 0.1116 | −0.291% | $161K | $4K | 5x | as long as short |
Gate ALGO_USDT
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
HTX ALGO-USDT
Extended ALGO-USD
Kraken Futures PF_ALGOUSD
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD