Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Binance+0.021%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$570.569% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 7 days−0.070%−$7 · spread now +0.021%, 7d avg −0.001%

Together, before fees−0.137%−$14 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: OKX is 0.022% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance RENDERUSDT	1.8416	0.0100	pay 0.0050% / 4h	2h 11m	$12.1M	$45.8M	75x
Short	OKX RENDER-USDT-SWAP	1.8420	0.0100	get 0.0050% / 4h	2h 11m	$3.1M	$8.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → −0.001%: $2.23
Slippage, 4 orders: −$36.95
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$54.72
Costs to cover: 0.569%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; OKX: live order book, 1 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, 15 min ago	2.71 bp	7.9 bp −$8	22.8 bp −$228	207.1 bp −$20.7K	doesn't fit
Sell OKX live order book, 1 min ago	2.71 bp	18.6 bp −$19	53.8 bp −$538	doesn't fit	doesn't fit

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
Injective RENDER/USDC PERP	−0.0344%	1h	1.8430	+0.075%	$6K	$188K	12x	as long as short
dYdX RENDER-USD	0.0000%	1h	1.8416	−0.002%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8433	+0.092%	$11K	$30K	25x	as long as short
Aster RENDERUSDT	+0.0100%	4h	1.8440	+0.130%	$266K	$141K	20x	as long as short
Binance RENDERUSDTlong	+0.0100%	4h	1.8416	long leg	$12.1M	$45.8M	75x
Bybit RENDERUSDT	+0.0100%	4h	1.8410	−0.033%	$11.8M	$12.9M	50x	as long as short
OKX RENDER-USDT-SWAPshort	+0.0100%	4h	1.8420	+0.021%	$3.1M	$8.1M	20x
Gate RENDER_USDT	+0.0100%	4h	1.8425	+0.048%	$563K	$1.1M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8440	+0.130%	$11.0M	$10.9M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8440	+0.130%	$4.9M	$12.0M	50x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget RENDERUSDT	+0.0100%	4h	1.8443	+0.146%	$9.9M	$10.6M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8430	+0.075%	—	$3.6M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8392	−0.133%	$226K	$277K	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8426	+0.054%	$46K	$259K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8420	+0.021%	$1.8M	$3.9M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8431	+0.081%	$28K	$192K	10x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0168%	1h	1.8520	+0.564%	$151K	$59K	50x	as long as short
Phoenix RENDER	+0.0217%	1h	1.8447	+0.168%	$47K	$297K	5x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0364% / S −0.0912%	1h	1.8425	+0.050%	$15K	—	100x	as long as short
Kraken Futures PF_RENDERUSD	+0.0667%	1h	1.8457	+0.223%	$489K	$1.1M	50x	as long as short
Hyperliquid RENDER	+0.0834%	1h	1.8460	+0.239%	$4.2M	$3.3M	5x	as long as short