Funding you earn now, next payment 04:00 UTC+0.1179%/8h= +129.1% APRpaid last 24h +0.125%
Price spread now: Kraken Futures against Bitget+0.029%7-day average +0.057% · you sell dearer than you buy
Net, funding: paid 7d − costs−$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$70as in the Price arb table
costs, in and out, $10k−$670.668% of the position
Funding, last 7 days+0.599%+$60 on $10k
+Price spread, last 4 days (all we have)−0.131%−$13 · spread now +0.029%, 7d avg +0.057%
=Funding pays, the price is against you. Kraken Futures is 0.028% cheaper against Bitget than usual: you would sell low and buy high (spread +0.029% now, against its 7-day average of +0.057%). If the spread goes back, that is −$3 on $10k: about 2 hours of funding at the current rate (+$35 a day). At the pace of the last 7 days (+0.599% in total) that is about 8 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.599% in total (about 31.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget RENDERUSDT | 1.8376 | 0.0100 | pay 0.0050% / 4h | 32m 59s | $10.0M | $10.9M | 50x |
| Short | Kraken Futures PF_RENDERUSD | 1.8381 | 0.1279 | get 0.0160% / 1h | 32m 59s | $478K | $1.1M | 50x |
Bitget RENDERUSDT
Kraken Futures PF_RENDERUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bitget. 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
- $247.62
- Price spread: +0.029% → +0.057%
- −$2.82
- Slippage, 4 orders
- −$44.78
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $178.02
- Costs to cover
- 0.668%
- Break-even
- 2.0 days
Slippage from Bitget: live order book, 1 min ago; Kraken Futures: live order book, just now.
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 Bitget live order book, 1 min ago | 2.45 bp | 10.1 bp −$10 | 19.7 bp −$197 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, just now | 10.33 bp | 20.8 bp −$21 | 62.8 bp −$628 | 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 | 1.8200 | −0.958% | $6K | $188K | 12x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | +0.0077% | 1h | 1.8356 | −0.109% | $10K | $30K | 25x | as long as short |
| dYdX RENDER-USD | +0.0090% | 1h | 1.8307 | −0.377% | $19K | $23K | 5x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8370 | −0.033% | $12.2M | $47.4M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8359 | −0.093% | $11.8M | $13.3M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8380 | +0.022% | $3.1M | $8.1M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8362 | −0.076% | $546K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8370 | −0.033% | $12.6M | $11.3M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8370 | −0.033% | $4.9M | $11.7M | 50x | as long as short |
| Bitget RENDERUSDTlong | +0.0100% | 4h | 1.8376 | long leg | $10.0M | $10.9M | 50x |
Injective RENDER/USDC PERP
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTMShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX RENDER-USDT | +0.0100% | 4h | 1.8370 | −0.033% | — | $3.6M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8202 | −0.948% | $259K | $313K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8275 | −0.550% | $40K | $252K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8360 | −0.087% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8348 | −0.150% | $26K | $200K | 10x | as long as short |
| Aster RENDERUSDT | +0.0251% | 4h | 1.8360 | −0.086% | $266K | $150K | 20x | as long as short |
| Phoenix RENDER | +0.0299% | 1h | 1.8343 | −0.180% | $47K | $315K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8330 | −0.250% | $581K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0367% / S −0.0927% | 1h | 1.8349 | −0.146% | $16K | — | 100x | as long as short |
| Hyperliquid RENDER | +0.0495% | 1h | 1.8390 | +0.076% | $4.1M | $3.3M | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0720% | 1h | 1.8450 | +0.403% | $151K | $55K | 50x | as long as short |
| Kraken Futures PF_RENDERUSDshort | +0.1279% | 1h | 1.8381 | +0.029% | $478K | $1.1M | 50x |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Aster RENDERUSDT
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER
Coinbase International RENDER-PERP-INTX