Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0267%/8h= −29.2% APRpaid last 24h −0.055%

Price spread now: Aster against GMX+0.129%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.129% dearer against GMX than usual: you sell high and buy low (spread +0.129% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX RENDER/USD [ETH-USDC]	1.8652	L +0.0367% / S −0.0912%	pay 0.0046% / 1h	47m 14s	$16K	—	100x
Short	Aster RENDERUSDT	1.8676	0.0100	get 0.0050% / 4h	1h 47m	$270K	$139K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +0.129%Rate

Funding earned: −$56.02
Price spread: +0.129% → 0.000%: $12.88
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$63.14
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Aster: live order book, 15 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 15 min ago	10.81 bp	23.7 bp −$24	doesn't fit	doesn't fit	doesn't fit

GMX: 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	+0.078%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8670	+0.098%	$11K	$30K	25x	as long as short
Injective RENDER/USDC PERP	+0.0036%	1h	1.8650	−0.009%	$6K	$188K	12x	as long as short
Aster RENDERUSDTshort	+0.0100%	4h	1.8676	+0.129%	$270K	$139K	20x
Binance RENDERUSDT	+0.0100%	4h	1.8670	+0.098%	$12.4M	$44.8M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8660	+0.044%	$12.0M	$12.6M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8690	+0.205%	$3.1M	$8.0M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8649	−0.015%	$577K	$1.1M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8650	−0.009%	$11.2M	$10.7M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8670	+0.098%	$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	1.8673	+0.114%	$10.1M	$10.3M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8660	+0.044%	—	$3.5M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8681	+0.159%	$230K	$276K	—	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8660	+0.044%	$1.9M	$3.9M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8670	+0.097%	$27K	$198K	10x	as long as short
Phoenix RENDER	+0.0259%	1h	1.8671	+0.103%	$47K	$246K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8650	−0.009%	—	$1.1M	90x	as long as short
GMX RENDER/USD [ETH-USDC]long	L +0.0367% / S −0.0912%	1h	1.8652	long leg	$16K	—	100x
Coinbase International RENDER-PERP-INTX	+0.0456%	1h	1.8730	+0.420%	$152K	$53K	50x	as long as short
ApeX Omni RENDERUSDT	+0.0676%	1h	1.8620	−0.170%	$46K	$252K	50x	as long as short
Hyperliquid RENDER	+0.0959%	1h	1.8687	+0.189%	$4.3M	$3.2M	5x	as long as short
Kraken Futures PF_RENDERUSD	+0.1432%	1h	1.8686	+0.186%	$488K	$1.0M	50x	as long as short