Funding you earn now, next payment 22:00 UTC+0.0031%/8h= +3.3% APRpaid last 24h −0.004%
Price spread now: Phoenix against BingX−0.443%7-day average +0.083% · you buy dearer than you sell
Net, funding: paid 7d − costs−$83as in the Funding arb table
Net, price: spread back to 7d avg − costs−$101as in the Price arb table
costs, in and out, $10k−$480.483% of the position
Funding, last 7 days−0.343%−$34 on $10k
+Price spread, last 3 days (all we have)+0.758%+$76 · spread now −0.443%, 7d avg +0.083%
=Funding pays, the price is against you. Phoenix is 0.526% cheaper against BingX than usual: you would sell low and buy high (spread −0.443% now, against its 7-day average of +0.083%). If the spread goes back, that is −$53 on $10k: about 57 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.343%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX RENDER-USDT | 1.8510 | 0.0100 | pay 0.0050% / 4h | 1h 24m | — | $4.3M | — |
| Short | Phoenix RENDER | 1.8428 | 0.0131 | get 0.0016% / 1h | 24m 53s | $40K | $325K | 5x |
BingX RENDER-USDT
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against BingX. 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
- $6.41
- Price spread: −0.443% → +0.083%
- −$52.58
- Slippage, 4 orders
- −$31.29
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$94.46
- Costs to cover
- 0.483%
- Break-even
- 110.2 days
Slippage from BingX: live order book, 10 min ago; Phoenix: live order book, 56 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 BingX live order book, 10 min ago | 2.72 bp | 7.7 bp −$8 | 14.0 bp −$140 | 49.6 bp −$4,963 | 624.3 bp −$312.1K |
| Sell Phoenix live order book, 56 min ago | 1.07 bp | 13.6 bp −$14 | 45.8 bp −$458 | 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 | −0.0576% | 1h | 1.8400 | −0.594% | $6K | $187K | 12x | as long as short |
| Variational Omni RENDER | −0.0284% | 4h | 1.8403 | −0.580% | $223K | $297K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8407 | −0.557% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8512 | +0.011% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8518 | +0.046% | $264K | $176K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8510 | 0.000% | $12.2M | $48.1M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8490 | −0.108% | $12.0M | $13.9M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8510 | 0.000% | $3.1M | $8.5M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8502 | −0.043% | $536K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8510 | 0.000% | $11.9M | $10.5M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8500 | −0.054% | $5.0M | $12.7M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8517 | +0.038% | $10.0M | $10.5M | 50x | as long as short |
| BingX RENDER-USDTlong | +0.0100% | 4h | 1.8510 | long leg | — | $4.3M | — | |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8403 | −0.578% | $43K | $267K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8500 | −0.054% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8507 | −0.019% | $31K | $178K | 10x | as long as short |
| Phoenix RENDERshort | +0.0131% | 1h | 1.8428 | −0.443% | $40K | $325K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8480 | −0.162% | $593K | $1.3M | 90x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0352% | 1h | 1.8440 | −0.378% | $152K | $66K | 50x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0363% / S −0.0912% | 1h | 1.8512 | +0.010% | $15K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0577% | 1h | 1.8539 | +0.157% | $485K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.0632% | 1h | 1.8530 | +0.108% | $4.2M | $3.6M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
BloFin RENDER-USDT
Coinbase International RENDER-PERP-INTX
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER