Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0025%/8h= +2.8% APRpaid last 24h −0.057%

Price spread now: Deribit against Aster−0.085%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Deribit is 0.085% cheaper against Aster than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 11 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster RENDERUSDT	1.8682	0.0100	pay 0.0050% / 4h	1h 47m	$270K	$139K	20x
Short	Deribit RENDER_USDC-PERPETUAL	1.8666	0.0125	get 0.0016% / 1h	47m 26s	$11K	$30K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AsterbpFee DeribitbpOrdersPrice spread, now −0.085%Rate

Funding earned: $5.28
Price spread: −0.085% → 0.000%: −$8.46
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$18.18
Costs to cover: 0.150%
Break-even: 31.1 days

Slippage unknown: Aster: live order book, 14 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 Aster live order book, 14 min ago	10.81 bp	26.4 bp −$26	doesn't fit	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.

RENDER 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
dYdX RENDER-USD	0.0000%	1h	1.8666	−0.083%	$19K	$21K	5x	as long as short
Injective RENDER/USDC PERP	+0.0036%	1h	1.8590	−0.491%	$6K	$188K	12x	as long as short
Aster RENDERUSDTlong	+0.0100%	4h	1.8682	long leg	$270K	$139K	20x
Binance RENDERUSDT	+0.0100%	4h	1.8650	−0.168%	$12.4M	$44.8M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8646	−0.192%	$12.0M	$12.6M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8670	−0.063%	$3.1M	$8.0M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8669	−0.069%	$577K	$1.1M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8650	−0.170%	$11.2M	$10.7M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8670	−0.063%	$5.1M	$11.8M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8653	−0.154%	$10.1M	$10.3M	50x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX RENDER-USDT	+0.0100%	4h	1.8670	−0.063%	—	$3.5M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8681	−0.002%	$230K	$276K	—	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8690	+0.044%	$1.9M	$3.9M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8649	−0.176%	$27K	$198K	10x	as long as short
Deribit RENDER_USDC-PERPETUALshort	+0.0125%	1h	1.8666	−0.085%	$11K	$30K	25x
Phoenix RENDER	+0.0259%	1h	1.8671	−0.058%	$47K	$246K	5x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0367% / S −0.0912%	1h	1.8650	−0.172%	$16K	—	100x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0456%	1h	1.8730	+0.258%	$152K	$53K	50x	as long as short
ApeX Omni RENDERUSDT	+0.0676%	1h	1.8620	−0.331%	$46K	$252K	50x	as long as short
Hyperliquid RENDER	+0.0959%	1h	1.8687	+0.028%	$4.3M	$3.2M	5x	as long as short
Kraken Futures PF_RENDERUSD	+0.1430%	1h	1.8706	+0.132%	$488K	$1.0M	50x	as long as short