Funding you earn now, next payment 22:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.055%
Price spread now: Bybit against Coinbase International+0.163%7-day average −0.378% · you sell dearer than you buy
Net, funding: paid 7d − costs−$234as in the Funding arb table
Net, price: spread back to 7d avg − costs−$127as in the Price arb table
costs, in and out, $10k−$1811.810% of the position
Funding, last 7 days−0.534%−$53 on $10k
+Price spread, last 3 days (all we have)−0.424%−$42 · spread now +0.163%, 7d avg −0.378%
=The price spread pays, funding is against you. Bybit is 0.541% dearer against Coinbase International than usual: you sell high and buy low (spread +0.163% now, against its 7-day average of −0.378%): +$54 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 7.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International RENDER-PERP-INTX | 1.8440 | 0.0352 | pay 0.0044% / 1h | 24m 47s | $152K | $66K | 50x |
| Short | Bybit RENDERUSDT | 1.8470 | 0.0100 | get 0.0050% / 4h | 1h 24m | $12.0M | $13.9M | 50x |
Coinbase International RENDER-PERP-INTX
Bybit RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Coinbase International. 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
- −$52.92
- Price spread: +0.163% → −0.378%
- $54.06
- Slippage, 4 orders
- −$160.03
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$179.89
- Costs to cover
- 1.810%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 58 min ago; Bybit: live order book, 4 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 Coinbase International live order book, 58 min ago | 7.99 bp | 70.6 bp −$71 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 2.72 bp | 15.9 bp −$16 | 38.1 bp −$381 | 576.8 bp −$57.7K | 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 | −0.217% | $6K | $187K | 12x | as long as short |
| Variational Omni RENDER | −0.0284% | 4h | 1.8403 | −0.202% | $223K | $297K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8488 | +0.258% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8512 | +0.390% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8518 | +0.420% | $264K | $176K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8495 | +0.300% | $12.2M | $48.1M | 75x | as long as short |
| Bybit RENDERUSDTshort | +0.0100% | 4h | 1.8470 | +0.163% | $12.0M | $13.9M | 50x | |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8500 | +0.325% | $3.1M | $8.5M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8504 | +0.347% | $536K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8510 | +0.380% | $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
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 | +0.325% | $5.0M | $12.7M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8517 | +0.418% | $10.0M | $10.5M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8510 | +0.380% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8403 | −0.201% | $43K | $267K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8500 | +0.325% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8507 | +0.361% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0131% | 1h | 1.8428 | −0.065% | $40K | $325K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8480 | +0.217% | $593K | $1.3M | 90x | as long as short |
| Coinbase International RENDER-PERP-INTXlong | +0.0352% | 1h | 1.8440 | long leg | $152K | $66K | 50x | |
| GMX RENDER/USD [ETH-USDC] | L +0.0363% / S −0.0912% | 1h | 1.8512 | +0.390% | $15K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0577% | 1h | 1.8539 | +0.537% | $485K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.0629% | 1h | 1.8541 | +0.549% | $4.2M | $3.5M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER