RENDER

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0191%/8h= −20.9% APRnext payment −$0.24 per $10,000 · paid last 24h −0.055%

Price spread now: Phoenix against GMX+0.186%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 Phoenix

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—needs both histories

The price spread pays, funding is against you. Phoenix is 0.186% dearer against GMX than usual: you sell high and buy low (spread +0.186% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX RENDER/USD [ETH-USDC]	1.8563	L +0.0364% / S −0.0912%	pay 0.0045% / 1h	37m 04s	$16K	—	100x
Short	Phoenix RENDER	1.8597	0.0173	get 0.0022% / 1h	37m 04s	$47K	$333K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.186%Rate

Funding earned: −$40.13
Price spread: +0.186% → 0.000%: $18.58
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$40.56
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phoenix: live order book, 39 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 Phoenix live order book, 39 min ago	1.08 bp	13.3 bp −$13	45.3 bp −$453	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	−0.0088%	4h	1.8553	−0.053%	$224K	$296K	—	as long as short
dYdX RENDER-USD	0.0000%	1h	1.8568	+0.028%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8568	+0.030%	$11K	$30K	25x	as long as short
Aster RENDERUSDT	+0.0100%	4h	1.8590	+0.148%	$268K	$166K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8567	+0.024%	$12.4M	$47.0M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8541	−0.116%	$12.0M	$13.5M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8570	+0.040%	$3.1M	$8.3M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8555	−0.041%	$536K	$1.1M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8560	−0.014%	$12.3M	$10.5M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8550	−0.067%	$5.1M	$12.4M	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	1.8568	+0.030%	$10.0M	$10.3M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8560	−0.014%	—	$4.2M	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8549	−0.073%	$43K	$266K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8570	+0.040%	$1.9M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8568	+0.028%	$31K	$178K	10x	as long as short
Injective RENDER/USDC PERP	+0.0110%	1h	1.8550	−0.067%	$6K	$187K	12x	as long as short
Phoenix RENDERshort	+0.0173%	1h	1.8597	+0.186%	$47K	$333K	5x
Coinbase International RENDER-PERP-INTX	+0.0256%	1h	1.8440	−0.660%	$152K	$65K	50x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8590	+0.148%	$597K	$1.2M	90x	as long as short
GMX RENDER/USD [ETH-USDC]long	L +0.0364% / S −0.0912%	1h	1.8563	long leg	$16K	—	100x
Kraken Futures PF_RENDERUSD	+0.0596%	1h	1.8597	+0.183%	$483K	$1.1M	50x	as long as short
Hyperliquid RENDER	+0.1781%	1h	1.8616	+0.286%	$4.3M	$3.4M	5x	as long as short