Funding you earn now, next payment 03:00 UTC+0.1310%/8h= +143.5% APRpaid last 24h +0.121%
Price spread now: Kraken Futures against Bybit+0.164%7-day average +0.173% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$81as in the Price arb table
costs, in and out, $10k−$800.804% of the position
Funding, last 7 days+0.582%+$58 on $10k
+Price spread, last 4 days (all we have)−0.462%−$46 · spread now +0.164%, 7d avg +0.173%
=The price spread sits at its 7-day average of +0.173%, so right now this pair is about funding alone: +$39 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.582% in total (about 30.3% 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 | Bybit RENDERUSDT | 1.8936 | 0.0100 | pay 0.0050% / 4h | 1h 17m | $12.1M | $13.2M | 50x |
| Short | Kraken Futures PF_RENDERUSD | 1.8967 | 0.1410 | get 0.0176% / 1h | 17m 56s | $491K | $1.1M | 50x |
Bybit RENDERUSDT
Kraken Futures PF_RENDERUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bybit. 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
- $275.2
- Price spread: +0.164% → +0.173%
- −$0.89
- Slippage, 4 orders
- −$59.39
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $193.92
- Costs to cover
- 0.804%
- Break-even
- 2.1 days
Slippage from Bybit: live order book, 5 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 Bybit live order book, 5 min ago | 2.64 bp | 18.0 bp −$18 | 44.9 bp −$449 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, just now | 10.28 bp | 26.4 bp −$26 | 54.9 bp −$549 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX RENDER-USD | 0.0000% | 1h | 1.8926 | −0.052% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8949 | +0.069% | $11K | $30K | 25x | as long as short |
| Injective RENDER/USDC PERP | +0.0036% | 1h | 1.8880 | −0.296% | $6K | $188K | 12x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8945 | +0.047% | $12.6M | $47.0M | 75x | as long as short |
| Bybit RENDERUSDTlong | +0.0100% | 4h | 1.8936 | long leg | $12.1M | $13.2M | 50x | |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8950 | +0.074% | $3.2M | $8.4M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8941 | +0.026% | $585K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8940 | +0.021% | $14.1M | $11.1M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8950 | +0.074% | $5.2M | $11.9M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8946 | +0.053% | $10.4M | $10.7M | 50x | as long as short |
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Injective RENDER/USDC PERP
Binance RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTM
Bitget RENDERUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX RENDER-USDT | +0.0100% | 4h | 1.8940 | +0.021% | — | $3.5M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8877 | −0.314% | $269K | $313K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8892 | −0.232% | $43K | $254K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8950 | +0.074% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8940 | +0.020% | $28K | $198K | 10x | as long as short |
| Aster RENDERUSDT | +0.0244% | 4h | 1.8994 | +0.306% | $275K | $145K | 20x | as long as short |
| Phoenix RENDER | +0.0259% | 1h | 1.8991 | +0.290% | $49K | $246K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8920 | −0.084% | $591K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0369% / S −0.0912% | 1h | 1.8940 | +0.019% | $16K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0456% | 1h | 1.9130 | +1.025% | $157K | $58K | 50x | as long as short |
| Hyperliquid RENDER | +0.0881% | 1h | 1.8980 | +0.232% | $4.3M | $3.2M | 5x | as long as short |
| Kraken Futures PF_RENDERUSDshort | +0.1410% | 1h | 1.8967 | +0.164% | $491K | $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]
Coinbase International RENDER-PERP-INTX
Hyperliquid RENDER