Funding you earn now, next payment 22:00 UTC−0.0645%/8h= −70.6% APRpaid last 24h −0.093%
Price spread now: Binance against Kraken Futures−0.138%7-day average −0.067% · you buy dearer than you sell
Net, funding: paid 7d − costs−$116as in the Funding arb table
Net, price: spread back to 7d avg − costs−$65as in the Price arb table
costs, in and out, $10k−$580.577% of the position
Funding, last 7 days−0.583%−$58 on $10k
+Price spread, last 3 days (all we have)+0.295%+$29 · spread now −0.138%, 7d avg −0.067%
=Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Binance is 0.071% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.067%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_RENDERUSD | 1.8666 | 0.0745 | pay 0.0093% / 1h | 40m 51s | $488K | $1.1M | 50x |
| Short | Binance RENDERUSDT | 1.8640 | 0.0100 | get 0.0050% / 4h | 2h 40m | $12.4M | $49.1M | 75x |
Kraken Futures PF_RENDERUSD
Binance RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Kraken Futures. 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
- −$135.44
- Price spread: −0.138% → −0.067%
- −$7.08
- Slippage, 4 orders
- −$37.66
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$200.17
- Costs to cover
- 0.577%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 2 min ago; Binance: live order book, 16 min ago.
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 Kraken Futures live order book, 2 min ago | 11.79 bp | 16.9 bp −$17 | 44.3 bp −$443 | doesn't fit | doesn't fit |
| Sell Binance live order book, 16 min ago | 2.69 bp | 8.9 bp −$9 | 20.5 bp −$205 | 112.2 bp −$11.2K | doesn't fit |
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 | −0.0440% | 1h | 1.8620 | −0.245% | $6K | $141K | 12x | as long as short |
| Variational Omni RENDER | −0.0246% | 4h | 1.8580 | −0.459% | $223K | $255K | — | as long as short |
| Bybit RENDERUSDT | −0.0191% | 4h | 1.8620 | −0.245% | $12.2M | $14.6M | 50x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | −0.0018% | 1h | 1.8643 | −0.122% | $11K | $33K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8613 | −0.283% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8640 | −0.138% | $271K | $189K | 20x | as long as short |
| Binance RENDERUSDTshort | +0.0100% | 4h | 1.8640 | −0.138% | $12.4M | $49.1M | 75x | |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8640 | −0.138% | $3.2M | $8.8M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8633 | −0.176% | $545K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8640 | −0.138% | $12.1M | $10.2M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
Bybit RENDERUSDT
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Aster RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8630 | −0.192% | $5.2M | $13.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8648 | −0.095% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8630 | −0.192% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8618 | −0.256% | $44K | $265K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8620 | −0.245% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8645 | −0.113% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8635 | −0.165% | $40K | $336K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8640 | −0.138% | $604K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0341% / S −0.0785% | 1h | 1.8641 | −0.131% | $14K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8570 | −0.513% | $153K | $68K | 50x | as long as short |
| Kraken Futures PF_RENDERUSDlong | +0.0745% | 1h | 1.8666 | long leg | $488K | $1.1M | 50x | |
| Hyperliquid RENDER | +0.0996% | 1h | 1.8673 | +0.039% | $4.3M | $4.3M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Hyperliquid RENDER