Funding you earn now, next payment 22:00 UTC−0.0291%/8h= −31.9% APRpaid last 24h −0.008%
Price spread now: Bybit against ApeX Omni−0.150%109s7-day average −0.111% · you buy dearer than you sell
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$700.703% of the position
Funding, last 7 days−0.005%$0 on $10k
+Price spread, last 3 days (all we have)−0.281%−$28 · spread now −0.150%, 7d avg −0.111%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bybit is 0.040% cheaper against ApeX Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.111%). Swap the legs. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.005% in total (about -0.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni RENDERUSDT | 1.8618 | 0.0100 | pay 0.0013% / 1h | 41m 43s | $44K | $265K | 50x |
| Short | Bybit RENDERUSDT | 1.8590 | −0.0191 | pay 0.0096% / 4h | 2h 41m | $12.1M | $14.6M | 50x |
ApeX Omni RENDERUSDT
Bybit RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against ApeX Omni. 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
- −$61.14
- Price spread: −0.150% → −0.111%
- −$3.98
- Slippage, 4 orders
- −$49.3
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$135.41
- Costs to cover
- 0.703%
- Break-even
- never at this rate
Slippage from ApeX Omni: live order book, 45 min ago; Bybit: live order book, 2 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 ApeX Omni live order book, 45 min ago | 9.76 bp | 17.5 bp −$17 | 129.0 bp −$1,290 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 2.69 bp | 19.0 bp −$19 | 45.5 bp −$455 | 489.1 bp −$48.9K | doesn't fit |
RENDER 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective RENDER/USDC PERP | −0.0440% | 1h | 1.8630 | +0.064% | $6K | $141K | 12x | as long as short |
| Variational Omni RENDER | −0.0246% | 4h | 1.8580 | −0.204% | $223K | $255K | — | as long as short |
| Bybit RENDERUSDTshort | −0.0191% | 4h | 1.8590 | −0.150% | $12.1M | $14.6M | 50x | |
| Deribit RENDER_USDC-PERPETUAL | −0.0018% | 1h | 1.8636 | +0.097% | $11K | $33K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8613 | −0.027% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8632 | +0.074% | $271K | $189K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8611 | −0.039% | $12.4M | $49.1M | 75x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8620 | +0.011% | $3.2M | $8.8M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8612 | −0.032% | $545K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8610 | −0.043% | $12.1M | $10.2M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Aster RENDERUSDT
Binance RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8610 | −0.043% | $5.2M | $13.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8616 | −0.011% | $10.0M | $10.4M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8610 | −0.043% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDTlong | +0.0100% | 1h | 1.8618 | long leg | $44K | $265K | 50x | |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8610 | −0.043% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8619 | +0.007% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8615 | −0.016% | $40K | $336K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8590 | −0.150% | $602K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0341% / S −0.0785% | 1h | 1.8640 | +0.117% | $14K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8570 | −0.258% | $153K | $68K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0745% | 1h | 1.8653 | +0.185% | $487K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.1002% | 1h | 1.8637 | +0.102% | $4.2M | $4.3M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
Phemex RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER