Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h −0.159%

Price spread now: MEXC against dYdX−0.104%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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. MEXC is 0.104% cheaper against dYdX than usual: you would sell low and buy high (spread −0.104% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 21 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX RENDER-USD	1.8319	0.0084	pay 0.0010% / 1h	31m 01s	$19K	$23K	5x
Short	MEXC RENDER_USDT	1.8300	0.0100	get 0.0050% / 4h	31m 01s	$12.5M	$11.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against dYdX. 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 dYdXbpFee MEXCbpOrdersPrice spread, now −0.104%Rate

Funding earned: $3.45
Price spread: −0.104% → 0.000%: −$10.37
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$16.92
Costs to cover: 0.100%
Break-even: 41.3 days

Slippage unknown: dYdX: no order-book sample; MEXC: live order book, 2 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 dYdX no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	2.72 bp	2.7 bp −$3	7.7 bp −$77	100.5 bp −$10.0K	230.1 bp −$115.0K

dYdX: 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	1.8200	−0.650%	$6K	$188K	12x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8301	−0.098%	$10K	$30K	25x	as long as short
dYdX RENDER-USDlong	+0.0084%	1h	1.8319	long leg	$19K	$23K	5x
Binance RENDERUSDT	+0.0100%	4h	1.8326	+0.039%	$12.1M	$47.4M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8313	−0.033%	$11.7M	$13.3M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8330	+0.060%	$3.1M	$8.1M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8309	−0.055%	$548K	$1.2M	50x	as long as short
MEXC RENDER_USDTshort	+0.0100%	4h	1.8300	−0.104%	$12.5M	$11.3M	200x
KuCoin RENDERUSDTM	+0.0100%	4h	1.8330	+0.060%	$4.9M	$11.7M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8328	+0.049%	$10.0M	$10.9M	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	1.8310	−0.049%	—	$3.6M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8292	−0.148%	$261K	$313K	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8345	+0.142%	$41K	$252K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8320	+0.005%	$1.8M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8300	−0.102%	$26K	$200K	10x	as long as short
Aster RENDERUSDT	+0.0256%	4h	1.8317	−0.012%	$265K	$151K	20x	as long as short
Phoenix RENDER	+0.0299%	1h	1.8343	+0.131%	$47K	$315K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8330	+0.060%	$581K	$1.1M	90x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0363% / S −0.0927%	1h	1.8299	−0.107%	$15K	—	100x	as long as short
Hyperliquid RENDER	+0.0494%	1h	1.8340	+0.115%	$4.1M	$3.3M	5x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0720%	1h	1.8450	+0.715%	$151K	$55K	50x	as long as short
Kraken Futures PF_RENDERUSD	+0.1283%	1h	1.8331	+0.064%	$477K	$1.1M	50x	as long as short