Funding you earn now, next payment 22:00 UTC−0.0189%/8h= −20.7% APRpaid last 24h +0.048%
Price spread now: Bybit against Deribit−0.236%7-day average −0.083% · you buy dearer than you sell
Net, funding: paid 7d − costs−$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$580.584% of the position
Funding, last 7 days+0.358%+$36 on $10k
+Price spread, last 3 days (all we have)+0.603%+$60 · spread now −0.236%, 7d avg −0.083%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.153% cheaper against Deribit than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.083%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.358%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit RENDER_USDC-PERPETUAL | 1.8636 | −0.0018 | get 0.0002% / 1h | 42m 12s | $11K | $33K | 25x |
| Short | Bybit RENDERUSDT | 1.8592 | −0.0208 | pay 0.0104% / 4h | 2h 42m | $12.1M | $14.6M | 50x |
Deribit RENDER_USDC-PERPETUAL
Bybit RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Deribit. 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
- −$39.76
- Price spread: −0.236% → −0.083%
- −$15.33
- Slippage, 4 orders
- −$40.37
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$113.46
- Costs to cover
- 0.584%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 66 min ago; Bybit: live order book, 1 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 Deribit live order book, 66 min ago | 5.51 bp | 9.0 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 2.69 bp | 19.0 bp −$19 | 45.5 bp −$455 | 489.1 bp −$48.9K | 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 | −0.0440% | 1h | 1.8630 | −0.032% | $6K | $141K | 12x | as long as short |
| Variational Omni RENDER | −0.0246% | 4h | 1.8580 | −0.300% | $223K | $255K | — | as long as short |
| Bybit RENDERUSDTshort | −0.0208% | 4h | 1.8592 | −0.236% | $12.1M | $14.6M | 50x | |
| Deribit RENDER_USDC-PERPETUALlong | −0.0018% | 1h | 1.8636 | long leg | $11K | $33K | 25x | |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8629 | −0.035% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8640 | +0.021% | $271K | $189K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8621 | −0.079% | $12.4M | $49.1M | 75x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8620 | −0.086% | $3.2M | $8.8M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8614 | −0.118% | $545K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8630 | −0.032% | $12.1M | $10.2M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
dYdX RENDER-USD
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 | 1.8620 | −0.086% | $5.2M | $13.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8623 | −0.070% | $10.0M | $10.4M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8620 | −0.086% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8618 | −0.097% | $44K | $265K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8610 | −0.140% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8636 | 0.000% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8615 | −0.113% | $40K | $336K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8590 | −0.247% | $602K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0341% / S −0.0785% | 1h | 1.8640 | +0.021% | $14K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8570 | −0.354% | $153K | $68K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0745% | 1h | 1.8653 | +0.089% | $487K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.1014% | 1h | 1.8645 | +0.048% | $4.2M | $4.3M | 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]
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER