Settings8H · net · $10k
Funding arb · Price arb /

RENDER

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%
Price spread now: BingX against Gate+0.048%7-day average 0.000% · you sell dearer than you buy
Net, funding: paid 7d − costs−$106as in the Funding arb table
Net, price: spread back to 7d avg − costs−$117as in the Price arb table
costs, in and out, $10k−$1221.218% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.155%+$15 on $10k
Price spread, last 7 days−0.123%−$12 · spread now +0.048%, 7d avg 0.000%
Together, before fees+0.031%+$3 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.048% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of 0.000%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate RENDER_USDT1.86910.0100pay 0.0050% / 4h58m 44s$571K$1.2M50x
ShortBingX RENDER-USDT1.87000.0100get 0.0050% / 4h58m 44s$3.6M

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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

Funding earned
$0
Price spread: +0.048% → 0.000%
$4.8
Slippage, 4 orders
−$96.78
Fee Gate: 7.5 bp × 2 orders
−$15
Fee BingX: 5 bp × 2 orders
−$10
Net
−$116.98
Costs to cover
1.218%
Break-even
never at this rate
Slippage from Gate: live order book, 3 min ago; BingX: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 3 min ago3.48 bp47.2 bp −$47246.5 bp −$2,465doesn't fitdoesn't fit
Sell BingX live order book, 6 min ago5.34 bp12.6 bp −$1319.7 bp −$19760.5 bp −$6,048doesn't fit

RENDER on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective RENDER/USDC PERP−0.0223%1h1.8650−0.219%$6K$188K12xas long as short
dYdX RENDER-USD0.0000%1h1.8675−0.084%$19K$21K5xas long as short
Deribit RENDER_USDC-PERPETUAL0.0000%1h1.8677−0.075%$11K$30K25xas long as short
Binance RENDERUSDT+0.0100%4h1.8714+0.124%$12.5M$47.0M75xas long as short
Bybit RENDERUSDT+0.0100%4h1.8690−0.005%$11.9M$13.2M50xas long as short
OKX RENDER-USDT-SWAP+0.0100%4h1.8720+0.155%$3.2M$8.3M20xas long as short
Gate RENDER_USDTlong+0.0100%4h1.8691long leg$571K$1.2M50x
MEXC RENDER_USDT+0.0100%4h1.8700+0.048%$13.8M$11.1M200xas long as short
KuCoin RENDERUSDTM+0.0100%4h1.8700+0.048%$5.1M$11.8M50xas long as short
Bitget RENDERUSDT+0.0100%4h1.8729+0.203%$10.2M$10.8M50xas long as short
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX RENDER-USDTshort+0.0100%4h1.8700+0.048%$3.6M
Variational Omni RENDER+0.0100%4h1.8641−0.267%$265K$313Kas long as short
ApeX Omni RENDERUSDT+0.0100%1h1.8674−0.091%$42K$253K50xas long as short
Phemex RENDERUSDT+0.0100%8h1.8680−0.059%$1.9M$4.0M50xas long as short
Extended RENDER-USD+0.0104%1h1.8693+0.010%$27K$200K10xas long as short
Phoenix RENDER+0.0259%1h1.8684−0.037%$48K$242K5xas long as short
Aster RENDERUSDT+0.0315%4h1.8722+0.168%$271K$144K20xas long as short
BloFin RENDER-USDT+0.0340%4h1.8690−0.005%$594K$1.2M90xas long as short
GMX RENDER/USD [ETH-USDC]L +0.0367% / S −0.0912%1h1.8660−0.167%$16K100xas long as short
Coinbase International RENDER-PERP-INTX+0.0720%1h1.8900+1.118%$155K$57K50xas long as short
Hyperliquid RENDER+0.0774%1h1.8739+0.257%$4.2M$3.2M5xas long as short
Kraken Futures PF_RENDERUSD+0.1257%1h1.8704+0.070%$486K$1.1M50xas long as short