Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0812%/8h= +88.9% APRpaid last 24h +0.150%

Price spread now: GMX against Aster−0.205%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 GMX

What this pair did over the last

the charts below follow

Funding, last 3 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. GMX is 0.205% cheaper against Aster than usual: you would sell low and buy high (spread −0.205% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 20 hours of funding at the current rate (+$24 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster RENDERUSDT	1.8690	0.0100	pay 0.0050% / 4h	1h 47m	$270K	$139K	20x
Short	GMX RENDER/USD [ETH-USDC]	1.8652	L +0.0367% / S −0.0912%	get 0.0114% / 1h	47m 08s	$16K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.205%Rate

Funding earned: $170.57
Price spread: −0.205% → 0.000%: −$20.49
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $130.08
Costs to cover: 0.200%
Break-even: 1.7 days

Slippage unknown: Aster: live order book, 15 min ago; GMX: 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, 15 min ago	10.81 bp	26.4 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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
dYdX RENDER-USD	0.0000%	1h	1.8666	−0.127%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8670	−0.107%	$11K	$30K	25x	as long as short
Injective RENDER/USDC PERP	+0.0036%	1h	1.8650	−0.214%	$6K	$188K	12x	as long as short
Aster RENDERUSDTlong	+0.0100%	4h	1.8690	long leg	$270K	$139K	20x
Binance RENDERUSDT	+0.0100%	4h	1.8690	0.000%	$12.4M	$44.8M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8680	−0.054%	$12.0M	$12.6M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8690	0.000%	$3.1M	$8.0M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8664	−0.139%	$577K	$1.1M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8680	−0.054%	$11.3M	$10.7M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8670	−0.107%	$5.1M	$11.8M	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget RENDERUSDT	+0.0100%	4h	1.8682	−0.043%	$10.1M	$10.3M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8680	−0.054%	—	$3.5M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8681	−0.046%	$230K	$276K	—	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8660	−0.161%	$1.9M	$3.9M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8670	−0.108%	$27K	$198K	10x	as long as short
Phoenix RENDER	+0.0259%	1h	1.8671	−0.102%	$47K	$246K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8650	−0.214%	—	$1.1M	90x	as long as short
GMX RENDER/USD [ETH-USDC]short	L +0.0367% / S −0.0912%	1h	1.8652	−0.205%	$16K	—	100x
Coinbase International RENDER-PERP-INTX	+0.0456%	1h	1.8730	+0.214%	$152K	$53K	50x	as long as short
ApeX Omni RENDERUSDT	+0.0676%	1h	1.8620	−0.375%	$46K	$252K	50x	as long as short
Hyperliquid RENDER	+0.0967%	1h	1.8705	+0.080%	$4.3M	$3.2M	5x	as long as short
Kraken Futures PF_RENDERUSD	+0.1432%	1h	1.8686	−0.019%	$488K	$1.0M	50x	as long as short