Funding you earn now, next payment 04:00 UTC+0.0430%/8h= +47.1% APRnext payment +$0.54 per $10,000 · paid last 24h +0.071%
Price spread now: Kraken Futures against Coinbase International−0.597%7-day average −0.215% · you buy dearer than you sell
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$122as in the Price arb table
costs, in and out, $10k−$840.842% of the position
Funding, last 7 days+0.074%+$7 on $10k
+Price spread, last 4 days (all we have)+0.372%+$37 · spread now −0.597%, 7d avg −0.215%
=Funding pays, the price is against you. Kraken Futures is 0.382% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.597% now, against its 7-day average of −0.215%). If the spread goes back, that is −$38 on $10k: about 3.0 days of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.074% in total) that is about 36 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.074% in total (about 3.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 per $10,000. 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 | Coinbase International RENDER-PERP-INTX | 1.8430 | 0.0616 | pay 0.0077% / 1h | 33m 05s | $153K | $58K | 50x |
| Short | Kraken Futures PF_RENDERUSD | 1.8320 | 0.1046 | get 0.0131% / 1h | 33m 05s | $497K | $1.2M | 50x |
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $90.35
- Price spread: −0.597% → −0.215%
- −$38.17
- Slippage, 4 orders
- −$64.16
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$31.98
- Costs to cover
- 0.842%
- Break-even
- 9.5 days
Slippage from Coinbase International: live order book, 20 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 Coinbase International live order book, 20 min ago | 8.10 bp | 18.4 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, just now | 9.28 bp | 18.4 bp −$18 | 54.1 bp −$541 | 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 | −0.0572% | 1h | 1.8310 | −0.651% | $12K | $194K | 12x | as long as short |
| dYdX RENDER-USD | +0.0055% | 1h | 1.8267 | −0.885% | $19K | $23K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | +0.0078% | 1h | 1.8298 | −0.716% | $13K | $33K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8297 | −0.723% | $268K | $155K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8293 | −0.743% | $11.9M | $47.1M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8287 | −0.776% | $11.7M | $13.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8310 | −0.651% | $3.1M | $8.1M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8284 | −0.792% | $536K | $1.3M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8290 | −0.760% | $12.4M | $11.2M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8310 | −0.651% | $4.9M | $11.3M | 50x | as long as short |
Injective RENDER/USDC PERP
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8290 | −0.760% | $10.0M | $10.7M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8290 | −0.760% | — | $3.4M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8262 | −0.913% | $260K | $313K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8289 | −0.765% | $40K | $256K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8290 | −0.760% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8295 | −0.735% | $26K | $201K | 10x | as long as short |
| Phoenix RENDER | +0.0303% | 1h | 1.8308 | −0.662% | $47K | $326K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8300 | −0.705% | $567K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0372% / S −0.0956% | 1h | 1.8290 | −0.762% | $16K | — | 100x | as long as short |
| Hyperliquid RENDER | +0.0580% | 1h | 1.8314 | −0.629% | $4.1M | $3.3M | 5x | as long as short |
| Coinbase International RENDER-PERP-INTXlong | +0.0616% | 1h | 1.8430 | long leg | $153K | $58K | 50x | |
| Kraken Futures PF_RENDERUSDshort | +0.1046% | 1h | 1.8320 | −0.597% | $497K | $1.2M | 50x |
Bitget RENDERUSDT
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER