Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.030%
Price spread now: Binance against Injective−0.938%47s7-day average +0.577% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.052%+$5 on $10k
+Price spread, last 3 days (all we have)+1.427%+$143 · spread now −0.938%, 7d avg +0.577%
=Funding pays, the price is against you. Binance is 1.515% cheaper against Injective than usual: you would sell low and buy high (spread −0.938% now, against its 7-day average of +0.577%). If the spread goes back, that is −$151 on $10k: about 3 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.052% in total) that is about 7 months. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective ALGO/USDC PERP | 0.1120 | 0.0033 | pay 0.0004% / 1h | 58m 40s | $834 | $233K | 12x |
| Short | Binance ALGOUSDT | 0.1109 | 0.0100 | get 0.0100% / 8h | 5h 58m | $9.7M | $34.6M | 75x |
Injective ALGO/USDC PERP
Binance ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Injective. 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
- $14
- Price spread: −0.938% → +0.577%
- −$151.49
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$147.51
- Costs to cover
- 0.100%
- Break-even
- 80.8 days
Slippage unknown: Injective: no order-book sample; Binance: live order book, 13 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 Injective no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 13 min ago | 1.79 bp | 12.8 bp −$13 | 34.4 bp −$344 | 246.7 bp −$24.7K | doesn't fit |
Injective: 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 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 | −0.0470% | 1h | 0.1110 | −0.893% | $100K | $49K | 25x | as long as short |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1111 | −0.764% | $17K | — | 150x | as long as short |
| Coinbase International ALGO-PERP-INTX | +0.0032% | 1h | 0.1120 | +0.009% | $71K | $285K | 50x | as long as short |
| Injective ALGO/USDC PERPlong | +0.0033% | 1h | 0.1120 | long leg | $834 | $233K | 12x | |
| Variational Omni ALGO | +0.0067% | 8h | 0.1113 | −0.633% | $61K | $12K | — | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1112 | −0.714% | $3.7M | $2.0M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1111 | −0.839% | $44K | $41K | 5x | as long as short |
| Binance ALGOUSDTshort | +0.0100% | 8h | 0.1109 | −0.938% | $9.7M | $34.6M | 75x | |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1109 | −1.009% | $11.4M | $12.2M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1108 | −1.054% | $2.9M | $7.6M | 50x | as long as short |
Deribit ALGO_USDC-PERPETUAL
gTrade (Gains Network) ALGO/USD
Coinbase International ALGO-PERP-INTX
Variational Omni ALGO
Hyperliquid ALGO
Aster 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 | 0.1111 | −0.804% | $870K | $846K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1110 | −0.929% | $22.7M | $2.9M | 200x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1111 | −0.839% | $3.5M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1109 | −0.982% | $5.5M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1109 | −0.973% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1110 | −0.893% | $60K | $140K | 75x | as long as short |
| Phemex ALGOUSDT | +0.0100% | 8h | 0.1112 | −0.714% | $3.8M | $1.8M | 50x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1109 | −0.961% | $4K | $232K | 10x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0342% / S −0.0313% | 1h | 0.1111 | −0.821% | $7K | — | 100x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0356% | 1h | 0.1110 | −0.878% | $822K | $1.1M | 50x | as long as short |
| dYdX ALGO-USD | +0.1687% | 1h | 0.1110 | −0.901% | $160K | $4K | 5x | as long as short |
Gate ALGO_USDT
MEXC ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
HTX ALGO-USDT
Phemex ALGOUSDT
Extended ALGO-USD
GMX ALGO/USD [WBTC.b-USDC]
Kraken Futures PF_ALGOUSD
dYdX ALGO-USD