Funding you earn now, next payment 00:00 UTC−0.0263%/8h= −28.9% APRpaid last 24h −0.052%
Price spread now: Phemex against GMX+0.159%52s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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—needs both histories
The price spread pays, funding is against you. Phemex is 0.159% dearer against GMX than usual: you sell high and buy low (spread +0.159% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.0 days. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX RENDER/USD [ETH-USDC] | 1.8540 | L +0.0363% / S −0.0912% | pay 0.0045% / 1h | 35m 29s | $15K | — | 100x |
| Short | Phemex RENDERUSDT | 1.8570 | 0.0100 | get 0.0100% / 8h | 35m 29s | $1.9M | $4.0M | 50x |
GMX RENDER/USD [ETH-USDC]
Phemex RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against GMX. 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
- −$55.33
- Price spread: +0.159% → 0.000%
- $15.92
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$63.41
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago | 8.07 bp | 28.5 bp −$29 | 92.8 bp −$928 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni RENDER | −0.0093% | 4h | 1.8543 | +0.013% | $224K | $296K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8548 | +0.038% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8576 | +0.192% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8568 | +0.147% | $268K | $166K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8544 | +0.021% | $12.4M | $47.0M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8520 | −0.110% | $12.0M | $13.5M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8540 | −0.003% | $3.1M | $8.3M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8545 | +0.024% | $536K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8550 | +0.051% | $12.3M | $10.5M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8530 | −0.057% | $5.1M | $12.4M | 50x | as long as short |
Variational Omni RENDER
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTMShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8551 | +0.057% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8550 | +0.051% | — | $4.2M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8569 | +0.154% | $43K | $266K | 50x | as long as short |
| Phemex RENDERUSDTshort | +0.0100% | 8h | 1.8570 | +0.159% | $1.9M | $4.0M | 50x | |
| Extended RENDER-USD | +0.0104% | 1h | 1.8546 | +0.032% | $31K | $178K | 10x | as long as short |
| Injective RENDER/USDC PERP | +0.0110% | 1h | 1.8550 | +0.051% | $6K | $187K | 12x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8589 | +0.262% | $47K | $333K | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0256% | 1h | 1.8440 | −0.542% | $152K | $65K | 50x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8590 | +0.267% | $597K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC]long | L +0.0363% / S −0.0912% | 1h | 1.8540 | long leg | $15K | — | 100x | |
| Kraken Futures PF_RENDERUSD | +0.0596% | 1h | 1.8599 | +0.314% | $483K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.1764% | 1h | 1.8595 | +0.294% | $4.3M | $3.4M | 5x | as long as short |
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Extended RENDER-USD
Injective RENDER/USDC PERP
Phoenix RENDER
Coinbase International RENDER-PERP-INTX
BloFin RENDER-USDT
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER