Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%
Price spread now: Phemex against Injective−0.089%7-day average +0.767% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.138%+$14 on $10k
+Price spread, last 3 days (all we have)+0.725%+$72 · spread now −0.089%, 7d avg +0.767%
=Funding pays, the price is against you. Phemex is 0.857% cheaper against Injective than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of +0.767%). If the spread goes back, that is −$86 on $10k: about 43 days of funding at the current rate (+$2 a day).
| 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 | 26m 40s | $834 | $233K | 12x |
| Short | Phemex ALGOUSDT | 0.1119 | 0.0100 | get 0.0100% / 8h | 7h 26m | $3.8M | $1.8M | 50x |
Injective ALGO/USDC PERP
Phemex ALGOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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: −0.089% → +0.767%
- −$85.66
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$83.68
- Costs to cover
- 0.120%
- Break-even
- 48.8 days
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 2 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 Phemex live order book, 2 min ago | 8.90 bp | 24.0 bp −$24 | 53.1 bp −$531 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ALGOUSD | −0.0567% | 1h | 0.1117 | −0.283% | $831K | $1.1M | 50x | as long as short |
| Deribit ALGO_USDC-PERPETUAL | −0.0287% | 1h | 0.1116 | −0.348% | $101K | $50K | 25x | as long as short |
| Variational Omni ALGO | −0.0119% | 8h | 0.1119 | −0.056% | $62K | $11K | — | as long as short |
| Coinbase International ALGO-PERP-INTX | −0.0104% | 1h | 0.1120 | −0.018% | $67K | $255K | 50x | as long as short |
| gTrade (Gains Network) ALGO/USD | L +0.0001% / S +0.0003% | 1h | 0.1117 | −0.288% | $6K | — | 150x | as long as short |
| Injective ALGO/USDC PERPlong | +0.0033% | 1h | 0.1120 | long leg | $834 | $233K | 12x | |
| MEXC ALGO_USDT | +0.0095% | 8h | 0.1118 | −0.188% | $23.0M | $3.0M | 200x | as long as short |
| Binance ALGOUSDT | +0.0096% | 8h | 0.1118 | −0.189% | $9.9M | $34.1M | 75x | as long as short |
| Extended ALGO-USD | +0.0096% | 1h | 0.1119 | −0.122% | $4K | $228K | 10x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1121 | +0.089% | $3.7M | $1.8M | 5x | as long as short |
Kraken Futures PF_ALGOUSD
Deribit ALGO_USDC-PERPETUAL
Variational Omni ALGO
Coinbase International ALGO-PERP-INTX
gTrade (Gains Network) ALGO/USD
MEXC ALGO_USDT
Binance ALGOUSDT
Extended ALGO-USD
Hyperliquid ALGOShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster ALGOUSDT | +0.0100% | 8h | 0.1119 | −0.103% | $44K | $38K | 5x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1116 | −0.313% | $11.3M | $11.8M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1117 | −0.295% | $2.9M | $7.5M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1118 | −0.223% | $877K | $819K | 50x | as long as short |
| KuCoin ALGOUSDTM | +0.0100% | 8h | 0.1119 | −0.089% | $3.6M | $1.4M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1119 | −0.089% | $5.6M | $3.5M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1119 | −0.134% | — | $3.3M | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1116 | −0.313% | $68K | $110K | 75x | as long as short |
| Phemex ALGOUSDTshort | +0.0100% | 8h | 0.1119 | −0.089% | $3.8M | $1.8M | 50x | |
| BloFin ALGO-USDT | +0.0216% | 8h | 0.1119 | −0.107% | $486K | $768K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0341% / S −0.0351% | 1h | 0.1116 | −0.323% | $7K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1336% | 1h | 0.1118 | −0.172% | $160K | $3K | 5x | as long as short |
Aster ALGOUSDT
Bybit ALGOUSDT
OKX ALGO-USDT-SWAP
Gate ALGO_USDT
KuCoin ALGOUSDTM
Bitget ALGOUSDT
BingX ALGO-USDT
HTX ALGO-USDT
BloFin ALGO-USDT
GMX ALGO/USD [WBTC.b-USDC]
dYdX ALGO-USD