Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.055%

Price spread now: Gate against Deribit−0.032%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 Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.274%+$27 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. Gate is 0.032% cheaper against Deribit than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 26 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit RENDER_USDC-PERPETUAL	1.8670	0	get 0.0000% / 1h	47m 06s	$11K	$30K	25x
Short	Gate RENDER_USDT	1.8664	0.0100	get 0.0050% / 4h	1h 47m	$577K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.032%Rate

Funding earned: $21
Price spread: −0.032% → 0.000%: −$3.21
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$4.21
Costs to cover: 0.220%
Break-even: 8.4 days

Slippage unknown: Deribit: no order-book sample; Gate: live order book, 5 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 Gate live order book, 5 min ago	3.48 bp	35.0 bp −$35	166.6 bp −$1,666	doesn't fit	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
dYdX RENDER-USD	0.0000%	1h	1.8666	−0.020%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUALlong	0.0000%	1h	1.8670	long leg	$11K	$30K	25x
Injective RENDER/USDC PERP	+0.0036%	1h	1.8650	−0.107%	$6K	$188K	12x	as long as short
Aster RENDERUSDT	+0.0100%	4h	1.8690	+0.107%	$270K	$139K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8690	+0.107%	$12.4M	$44.8M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8680	+0.054%	$12.0M	$12.6M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8690	+0.107%	$3.1M	$8.0M	20x	as long as short
Gate RENDER_USDTshort	+0.0100%	4h	1.8664	−0.032%	$577K	$1.1M	50x
MEXC RENDER_USDT	+0.0100%	4h	1.8680	+0.054%	$11.3M	$10.7M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8670	0.000%	$5.1M	$11.8M	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget RENDERUSDT	+0.0100%	4h	1.8682	+0.064%	$10.1M	$10.3M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8680	+0.054%	—	$3.5M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8681	+0.061%	$230K	$276K	—	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8660	−0.054%	$1.9M	$3.9M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8670	−0.001%	$27K	$198K	10x	as long as short
Phoenix RENDER	+0.0259%	1h	1.8671	+0.005%	$47K	$246K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8650	−0.107%	—	$1.1M	90x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0367% / S −0.0912%	1h	1.8652	−0.098%	$16K	—	100x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0456%	1h	1.8730	+0.321%	$152K	$53K	50x	as long as short
ApeX Omni RENDERUSDT	+0.0676%	1h	1.8620	−0.268%	$46K	$252K	50x	as long as short
Hyperliquid RENDER	+0.0967%	1h	1.8705	+0.187%	$4.3M	$3.2M	5x	as long as short
Kraken Futures PF_RENDERUSD	+0.1432%	1h	1.8686	+0.088%	$488K	$1.0M	50x	as long as short