Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0079%/8h= +8.6% APRpaid last 24h +0.054%

Price spread now: Binance against Deribit−0.065%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.319%+$32 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.065% cheaper against Deribit than usual: you would sell low and buy high (spread −0.065% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit RENDER_USDC-PERPETUAL	1.8438	0.0021	pay 0.0003% / 1h	5m 30s	$12K	$31K	25x
Short	Binance RENDERUSDT	1.8426	0.0100	get 0.0050% / 4h	5m 30s	$12.1M	$47.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.065%Rate

Funding earned: $16.54
Price spread: −0.065% → 0.000%: −$6.53
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$7
Costs to cover: 0.170%
Break-even: 10.0 days

Slippage unknown: Deribit: no order-book sample; Binance: live order book, 7 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell Binance live order book, 7 min ago	2.70 bp	14.0 bp −$14	31.0 bp −$310	138.1 bp −$13.8K	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.8530	+0.499%	$12K	$194K	12x	as long as short
Deribit RENDER_USDC-PERPETUALlong	+0.0021%	1h	1.8438	long leg	$12K	$31K	25x
dYdX RENDER-USD	+0.0057%	1h	1.8419	−0.105%	$19K	$23K	5x	as long as short
Binance RENDERUSDTshort	+0.0100%	4h	1.8426	−0.065%	$12.1M	$47.3M	75x
Bybit RENDERUSDT	+0.0100%	4h	1.8410	−0.152%	$11.8M	$13.2M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8440	+0.011%	$3.1M	$8.1M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8419	−0.103%	$546K	$1.3M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8410	−0.152%	$12.5M	$11.3M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8430	−0.043%	$4.9M	$11.5M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8431	−0.038%	$10.0M	$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	1.8420	−0.098%	—	$3.4M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8412	−0.142%	$262K	$313K	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8434	−0.022%	$41K	$251K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8420	−0.098%	$1.8M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8412	−0.143%	$30K	$205K	10x	as long as short
Aster RENDERUSDT	+0.0160%	4h	1.8411	−0.145%	$270K	$153K	20x	as long as short
Phoenix RENDER	+0.0299%	1h	1.8485	+0.255%	$47K	$315K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8450	+0.065%	$572K	$1.1M	90x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0364% / S −0.0907%	1h	1.8428	−0.053%	$15K	—	100x	as long as short
Hyperliquid RENDER	+0.0586%	1h	1.8442	+0.022%	$4.2M	$3.3M	5x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0720%	1h	1.8430	−0.043%	$153K	$59K	50x	as long as short
Kraken Futures PF_RENDERUSD	+0.1274%	1h	1.8453	+0.079%	$480K	$1.1M	50x	as long as short