RENDER

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0461%/8h= −50.4% APRnext payment −$0.58 per $10,000 · paid last 24h −0.051%

Price spread now: Phoenix against Coinbase International−1.143%72s7-day average −0.237% · you buy dearer than you sell

Net, funding: paid 7d − costs−$255as 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−$1761.762% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.784%−$78 on $10k

Price spread, last 4 days (all we have)+1.701%+$170 · spread now −1.143%, 7d avg −0.237%

Together, before fees+0.917%+$92 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Phoenix is 0.906% cheaper against Coinbase International than usual: you would sell low and buy high (−$91 if the spread goes back to its 7-day average of −0.237%). Swap the legs. The two prices were read 72 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	Coinbase International RENDER-PERP-INTX	1.8900	0.0720	pay 0.0090% / 1h	57m 54s	$155K	$57K	50x
Short	Phoenix RENDER	1.8684	0.0259	get 0.0032% / 1h	57m 54s	$48K	$242K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee PhoenixbpOrdersPrice spread, now −1.143%Rate

Funding earned: −$96.75
Price spread: −1.143% → −0.237%: −$90.62
Slippage, 4 orders: −$159.2
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$363.57
Costs to cover: 1.762%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 65 min ago; Phoenix: live order book, 63 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, 65 min ago	16.22 bp	73.3 bp −$73	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 63 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	−1.323%	$6K	$188K	12x	as long as short
dYdX RENDER-USD	0.0000%	1h	1.8697	−1.075%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8641	−1.370%	$11K	$30K	25x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8587	−1.658%	$12.4M	$47.0M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8560	−1.799%	$11.8M	$13.3M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8590	−1.640%	$3.1M	$8.2M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8609	−1.540%	$568K	$1.2M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8590	−1.640%	$13.7M	$11.1M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8600	−1.587%	$5.0M	$11.8M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8624	−1.460%	$10.2M	$10.8M	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX RENDER-USDT	+0.0100%	4h	1.8580	−1.693%	—	$3.6M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8641	−1.369%	$265K	$313K	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8674	−1.196%	$42K	$253K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8650	−1.323%	$1.9M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8615	−1.507%	$27K	$200K	10x	as long as short
Phoenix RENDERshort	+0.0259%	1h	1.8684	−1.143%	$48K	$242K	5x
Aster RENDERUSDT	+0.0317%	4h	1.8670	−1.215%	$270K	$144K	20x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8690	−1.111%	$594K	$1.2M	90x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0367% / S −0.0912%	1h	1.8646	−1.343%	$16K	—	100x	as long as short
Hyperliquid RENDER	+0.0534%	1h	1.8655	−1.294%	$4.2M	$3.2M	5x	as long as short
Coinbase International RENDER-PERP-INTXlong	+0.0720%	1h	1.8900	long leg	$155K	$57K	50x
Kraken Futures PF_RENDERUSD	+0.1260%	1h	1.8662	−1.257%	$485K	$1.1M	50x	as long as short