Funding you earn now, next payment 02:00 UTC+0.0159%/8h= +17.4% APRpaid last 24h −0.002%
Price spread now: Phoenix against Bitget−0.064%49s7-day average +0.040% · you buy dearer than you sell
Net, funding: paid 7d − costs−$85as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$600.596% of the position
Funding, last 7 days−0.253%−$25 on $10k
+Price spread, last 4 days (all we have)+0.494%+$49 · spread now −0.064%, 7d avg +0.040%
=Funding pays, the price is against you. Phoenix is 0.104% cheaper against Bitget than usual: you would sell low and buy high (spread −0.064% now, against its 7-day average of +0.040%). If the spread goes back, that is −$10 on $10k: about 2.2 days of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.253%, so the current rate has only just turned in your favour. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget RENDERUSDT | 1.8696 | 0.0100 | pay 0.0050% / 4h | 58m 34s | $10.2M | $10.8M | 50x |
| Short | Phoenix RENDER | 1.8684 | 0.0259 | get 0.0032% / 1h | 58m 34s | $48K | $242K | 5x |
Bitget RENDERUSDT
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $33.45
- Price spread: −0.064% → +0.040%
- −$10.37
- Slippage, 4 orders
- −$40.63
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$36.55
- Costs to cover
- 0.596%
- Break-even
- 14.6 days
Slippage from Bitget: live order book, 5 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 Bitget live order book, 5 min ago | 2.94 bp | 16.6 bp −$17 | 30.8 bp −$308 | 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 | −0.246% | $6K | $188K | 12x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8697 | +0.004% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8677 | −0.102% | $11K | $30K | 25x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8710 | +0.075% | $12.5M | $47.0M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8672 | −0.128% | $11.9M | $13.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8690 | −0.032% | $3.2M | $8.3M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8702 | +0.032% | $571K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8700 | +0.021% | $13.8M | $11.1M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8710 | +0.075% | $5.1M | $11.8M | 50x | as long as short |
| Bitget RENDERUSDTlong | +0.0100% | 4h | 1.8696 | long leg | $10.2M | $10.8M | 50x |
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 RENDERUSDTMShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX RENDER-USDT | +0.0100% | 4h | 1.8690 | −0.032% | — | $3.6M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8641 | −0.293% | $265K | $313K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8674 | −0.118% | $42K | $253K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8680 | −0.086% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8687 | −0.049% | $27K | $200K | 10x | as long as short |
| Phoenix RENDERshort | +0.0259% | 1h | 1.8684 | −0.064% | $48K | $242K | 5x | |
| Aster RENDERUSDT | +0.0317% | 4h | 1.8730 | +0.182% | $271K | $144K | 20x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8690 | −0.032% | $594K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0367% / S −0.0912% | 1h | 1.8660 | −0.193% | $16K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0720% | 1h | 1.8900 | +1.091% | $155K | $57K | 50x | as long as short |
| Hyperliquid RENDER | +0.0774% | 1h | 1.8739 | +0.230% | $4.2M | $3.2M | 5x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1257% | 1h | 1.8704 | +0.043% | $486K | $1.1M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Aster RENDERUSDT
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Hyperliquid RENDER
Kraken Futures PF_RENDERUSD