Funding you earn now, next payment 06:00 UTC−0.0233%/8h= −25.5% APRpaid last 24h −0.115%
Price spread now: Deribit against Phemex−0.199%7-day average −0.156% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−1.164%−$116 on $10k
+Price spread, last 4 days (all we have)+0.117%+$12 · spread now −0.199%, 7d avg −0.156%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Deribit is 0.043% cheaper against Phemex than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.156%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex ALGOUSDT | 0.1107 | 0.0121 | pay 0.0121% / 8h | 2h 49m | $3.7M | $1.8M | 50x |
| Short | Deribit ALGO_USDC-PERPETUAL | 0.1105 | −0.0112 | pay 0.0014% / 1h | 49m 41s | $87K | $44K | 25x |
Phemex ALGOUSDT
Deribit ALGO_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phemex. 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
- −$48.93
- Price spread: −0.199% → −0.156%
- −$4.29
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$72.22
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 4 min ago; Deribit: no order-book sample. 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 Phemex live order book, 4 min ago | 4.53 bp | 23.3 bp −$23 | 59.4 bp −$594 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
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-PERPETUALshort | −0.0112% | 1h | 0.1105 | −0.199% | $87K | $44K | 25x | |
| gTrade (Gains Network) ALGO/USD | L −0.0001% / S +0.0003% | 1h | 0.1105 | −0.154% | $16K | — | 150x | as long as short |
| Injective ALGO/USDC PERP | +0.0033% | 1h | 0.1120 | +1.174% | $834 | $233K | 12x | as long as short |
| Hyperliquid ALGO | +0.0100% | 1h | 0.1105 | −0.145% | $3.6M | $2.0M | 5x | as long as short |
| Aster ALGOUSDT | +0.0100% | 8h | 0.1104 | −0.246% | $44K | $37K | 5x | as long as short |
| Binance ALGOUSDT | +0.0100% | 8h | 0.1104 | −0.274% | $9.5M | $34.6M | 75x | as long as short |
| Bybit ALGOUSDT | +0.0100% | 8h | 0.1104 | −0.316% | $11.1M | $12.5M | 75x | as long as short |
| OKX ALGO-USDT-SWAP | +0.0100% | 8h | 0.1105 | −0.217% | $2.7M | $7.8M | 50x | as long as short |
| Gate ALGO_USDT | +0.0100% | 8h | 0.1103 | −0.361% | $850K | $911K | 50x | as long as short |
| MEXC ALGO_USDT | +0.0100% | 8h | 0.1104 | −0.280% | $22.9M | $3.1M | 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 | −0.307% | $3.4M | $1.5M | 50x | as long as short |
| Bitget ALGOUSDT | +0.0100% | 8h | 0.1104 | −0.271% | $5.5M | $3.6M | 75x | as long as short |
| BingX ALGO-USDT | +0.0100% | 8h | 0.1104 | −0.235% | — | $3.3M | — | as long as short |
| Variational Omni ALGO | +0.0100% | 8h | 0.1100 | −0.659% | $60K | $12K | — | as long as short |
| HTX ALGO-USDT | +0.0100% | 8h | 0.1101 | −0.515% | $59K | $135K | 75x | as long as short |
| Extended ALGO-USD | +0.0104% | 1h | 0.1103 | −0.353% | $4K | $195K | 10x | as long as short |
| Kraken Futures PF_ALGOUSD | +0.0112% | 1h | 0.1105 | −0.197% | $833K | $1.1M | 50x | as long as short |
| Phemex ALGOUSDTlong | +0.0121% | 8h | 0.1107 | long leg | $3.7M | $1.8M | 50x | |
| Coinbase International ALGO-PERP-INTX | +0.0144% | 1h | 0.1106 | −0.090% | $63K | $287K | 50x | as long as short |
| BloFin ALGO-USDT | +0.0220% | 8h | 0.1100 | −0.650% | $475K | $866K | 75x | as long as short |
| GMX ALGO/USD [WBTC.b-USDC] | L +0.0318% / S −0.0264% | 1h | 0.1105 | −0.174% | $6K | — | 100x | as long as short |
| dYdX ALGO-USD | +0.1897% | 1h | 0.1105 | −0.192% | $159K | $4K | 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