Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.005%
Price spread now: Bybit against Injective−2.313%7-day average +0.455% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.016%+$2 on $10k
+Price spread, last 4 days (all we have)+2.755%+$276 · spread now −2.313%, 7d avg +0.455%
=Funding pays, the price is against you. Bybit is 2.768% cheaper against Injective than usual: you would sell low and buy high (spread −2.313% now, against its 7-day average of +0.455%). If the spread goes back, that is −$277 on $10k: about 5 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.016% in total) that is about years.
| 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 | 34m 52s | $834 | $233K | 12x |
| Short | Bybit ALGOUSDT | 0.1094 | 0.0100 | get 0.0100% / 8h | 2h 34m | $11.0M | $12.6M | 75x |
Injective ALGO/USDC PERP
Bybit ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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: −2.313% → +0.455%
- −$276.77
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$273.79
- Costs to cover
- 0.110%
- Break-even
- 143.9 days
Slippage unknown: Injective: no order-book sample; Bybit: live order book, 8 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 Bybit live order book, 8 min ago | 0.46 bp | 14.3 bp −$14 | 36.7 bp −$367 | doesn't fit | 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 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 | −0.0023% | 1h | 0.1098 | −1.929% | $87K | $44K | 25x | as long as short |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1098 | −1.925% | $16K | — | 150x | as long as short |
| Injective ALGO/USDC PERPlong | +0.0033% | 1h | 0.1120 | long leg | $834 | $233K | 12x | |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1099 | −1.911% | $3.6M | $2.0M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1097 | −2.094% | $44K | $37K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1096 | −2.153% | $9.4M | $34.8M | 75x | as long as short |
| Bybit ALGOUSDTshort | +0.0100% | 8h | 0.1094 | −2.313% | $11.0M | $12.6M | 75x | |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1094 | −2.321% | $2.7M | $7.7M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1096 | −2.170% | $838K | $925K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1096 | −2.170% | $22.8M | $3.2M | 200x | as long as short |
Deribit ALGO_USDC-PERPETUAL
gTrade (Gains Network) ALGO/USD
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 | 0.1096 | −2.125% | $3.4M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1097 | −2.054% | $5.4M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1096 | −2.125% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1094 | −2.305% | $60K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1098 | −1.938% | $59K | $135K | 75x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1096 | −2.153% | $4K | $195K | 10x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0113% | 1h | 0.1099 | −1.902% | $827K | $1.1M | 50x | as long as short |
| Phemex ALGOUSDT | +0.0136% | 8h | 0.1100 | −1.786% | $3.7M | $1.8M | 50x | as long as short |
| Coinbase International ALGO-PERP-INTX | +0.0144% | 1h | 0.1106 | −1.250% | $63K | $287K | 50x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1098 | −2.009% | $475K | $870K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0317% / S −0.0264% | 1h | 0.1098 | −1.934% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.2166% | 1h | 0.1097 | −2.043% | $158K | $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
Phemex ALGOUSDT
Coinbase International ALGO-PERP-INTX
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD