Funding you earn now, next payment 02:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.004%
Price spread now: Phoenix against Aster−0.205%7-day average −0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$97as in the Price arb table
costs, in and out, $10k−$770.767% of the position
Funding, last 5 days (all we have)−0.111%−$11 on $10k
+Price spread, last 4 days (all we have)+0.535%+$53 · spread now −0.205%, 7d avg −0.007%
=Together, before fees+0.424%+ Points / potential airdropAster: Stage 5 · farm board+$42 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.198% cheaper against Aster than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.007%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Aster RENDERUSDT | 1.8722 | 0.0315 | pay 0.0158% / 4h | 58m 46s | $271K | $144K | 20x |
| Short | Phoenix RENDER | 1.8684 | 0.0259 | get 0.0032% / 1h | 58m 46s | $48K | $242K | 5x |
Aster RENDERUSDT
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Aster. 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
- −$11.73
- Price spread: −0.205% → −0.007%
- −$19.81
- Slippage, 4 orders
- −$61.72
- Fee Aster: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$108.26
- Costs to cover
- 0.767%
- Break-even
- never at this rate
Slippage from Aster: live order book, 63 min ago; Phoenix: live order book, 62 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 Aster live order book, 63 min ago | 10.81 bp | 26.4 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 62 min ago | 1.08 bp | 13.3 bp −$13 | 45.6 bp −$456 | doesn't fit | 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 | −0.0223% | 1h | 1.8650 | −0.387% | $6K | $188K | 12x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8675 | −0.252% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8677 | −0.242% | $11K | $30K | 25x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8714 | −0.044% | $12.5M | $47.0M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8690 | −0.173% | $11.9M | $13.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8720 | −0.013% | $3.2M | $8.3M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8691 | −0.168% | $571K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8700 | −0.120% | $13.8M | $11.1M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8700 | −0.120% | $5.1M | $11.8M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8729 | +0.035% | $10.2M | $10.8M | 50x | as long as short |
Injective RENDER/USDC PERP
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTM
Bitget RENDERUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX RENDER-USDT | +0.0100% | 4h | 1.8700 | −0.120% | — | $3.6M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8641 | −0.434% | $265K | $313K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8674 | −0.259% | $42K | $253K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8680 | −0.226% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8693 | −0.157% | $27K | $200K | 10x | as long as short |
| Phoenix RENDERshort | +0.0259% | 1h | 1.8684 | −0.205% | $48K | $242K | 5x | |
| Aster RENDERUSDTlong | +0.0315% | 4h | 1.8722 | long leg | $271K | $144K | 20x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8690 | −0.173% | $594K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0367% / S −0.0912% | 1h | 1.8660 | −0.334% | $16K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0720% | 1h | 1.8900 | +0.949% | $155K | $57K | 50x | as long as short |
| Hyperliquid RENDER | +0.0774% | 1h | 1.8739 | +0.089% | $4.2M | $3.2M | 5x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1257% | 1h | 1.8704 | −0.098% | $486K | $1.1M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Hyperliquid RENDER
Kraken Futures PF_RENDERUSD