Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Binance−0.065%7-day average +0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$810.806% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 7 days+0.162%+$16 · spread now −0.065%, 7d avg +0.052%

Together, before fees+0.282%+$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.117% cheaper against Binance than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance RENDERUSDT	1.8542	0.0100	pay 0.0050% / 4h	34m 52s	$12.4M	$47.0M	75x
Short	KuCoin RENDERUSDTM	1.8530	0.0100	get 0.0050% / 4h	34m 52s	$5.1M	$12.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Binance. 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 BinancebpFee KuCoinbpOrdersPrice spread, now −0.065%Rate

Funding earned: $0
Price spread: −0.065% → +0.052%: −$11.71
Slippage, 4 orders: −$58.59
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$92.3
Costs to cover: 0.806%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; KuCoin: live order book, 4 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 Binance live order book, 7 min ago	2.69 bp	9.8 bp −$10	21.5 bp −$215	181.5 bp −$18.1K	doesn't fit
Sell KuCoin live order book, 4 min ago	2.70 bp	22.7 bp −$23	58.0 bp −$580	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
Variational Omni RENDER	−0.0093%	4h	1.8543	+0.005%	$224K	$296K	—	as long as short
dYdX RENDER-USD	0.0000%	1h	1.8548	+0.030%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8545	+0.016%	$11K	$30K	25x	as long as short
Aster RENDERUSDT	+0.0100%	4h	1.8564	+0.120%	$268K	$166K	20x	as long as short
Binance RENDERUSDTlong	+0.0100%	4h	1.8542	long leg	$12.4M	$47.0M	75x
Bybit RENDERUSDT	+0.0100%	4h	1.8516	−0.140%	$12.0M	$13.5M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8540	−0.011%	$3.1M	$8.3M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8541	−0.005%	$536K	$1.1M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8550	+0.043%	$12.3M	$10.5M	200x	as long as short
KuCoin RENDERUSDTMshort	+0.0100%	4h	1.8530	−0.065%	$5.1M	$12.4M	50x

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget RENDERUSDT	+0.0100%	4h	1.8550	+0.043%	$10.0M	$10.3M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8540	−0.011%	—	$4.2M	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8569	+0.146%	$43K	$266K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8550	+0.043%	$1.9M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8539	−0.016%	$31K	$178K	10x	as long as short
Injective RENDER/USDC PERP	+0.0110%	1h	1.8550	+0.043%	$6K	$187K	12x	as long as short
Phoenix RENDER	+0.0173%	1h	1.8589	+0.253%	$47K	$333K	5x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0256%	1h	1.8440	−0.550%	$152K	$65K	50x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8560	+0.097%	$595K	$1.2M	90x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0363% / S −0.0912%	1h	1.8540	−0.008%	$15K	—	100x	as long as short
Kraken Futures PF_RENDERUSD	+0.0597%	1h	1.8567	+0.135%	$482K	$1.1M	50x	as long as short
Hyperliquid RENDER	+0.1760%	1h	1.8589	+0.253%	$4.3M	$3.4M	5x	as long as short