Funding you earn now, next payment 01:00 UTC−0.0506%/8h= −55.4% APRnext payment −$0.63 per $10,000 · paid last 24h −0.062%
Price spread now: Coinbase International against Kraken Futures+0.551%7-day average +0.192% · you sell dearer than you buy
Net, funding: paid 7d − costs−$209as in the Funding arb table
Net, price: spread back to 7d avg − costs−$170as in the Price arb table
costs, in and out, $10k−$2062.058% of the position
Funding, last 7 days−0.037%−$4 on $10k
+Price spread, last 3 days (all we have)−0.263%−$26 · spread now +0.551%, 7d avg +0.192%
=The price spread pays, funding is against you. Coinbase International is 0.359% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.551% now, against its 7-day average of +0.192%): +$36 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 2.4 days. At the pace of the last 7 days (−0.037% in total) that is about 2 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.037% in total (about -1.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.63 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_RENDERUSD | 1.8269 | 0.0674 | pay 0.0084% / 1h | 55m 43s | $470K | $1.0M | 50x |
| Short | Coinbase International RENDER-PERP-INTX | 1.8370 | 0.0168 | get 0.0021% / 1h | 55m 43s | $150K | $65K | 50x |
Kraken Futures PF_RENDERUSD
Coinbase International RENDER-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$106.2
- Price spread: +0.551% → +0.192%
- $35.93
- Slippage, 4 orders
- −$185.75
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$276.03
- Costs to cover
- 2.058%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; Coinbase International: live order book, 12 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, 3 min ago | 16.58 bp | 24.4 bp −$24 | 62.3 bp −$623 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 12 min ago | 16.09 bp | 93.7 bp −$94 | doesn't fit | doesn't fit | 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 | −0.0344% | 1h | 1.8380 | +0.606% | $6K | $188K | 12x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | −0.0024% | 1h | 1.8253 | −0.090% | $10K | $30K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8217 | −0.287% | $18K | $21K | 5x | as long as short |
| Variational Omni RENDER | +0.0085% | 4h | 1.8222 | −0.258% | $224K | $279K | — | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8266 | −0.017% | $264K | $142K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8229 | −0.223% | $12.1M | $46.3M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8210 | −0.325% | $11.7M | $13.0M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8230 | −0.215% | $3.1M | $8.0M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8235 | −0.188% | $513K | $1.0M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8220 | −0.270% | $11.0M | $10.8M | 200x | as long as short |
Injective RENDER/USDC PERP
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Variational Omni RENDER
Aster RENDERUSDT
Binance RENDERUSDT
Bybit 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 | 1.8240 | −0.161% | $4.9M | $12.2M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8232 | −0.204% | $9.8M | $10.6M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8240 | −0.161% | — | $3.9M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8441 | +0.940% | $46K | $269K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8270 | +0.004% | $1.8M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8242 | −0.151% | $28K | $201K | 10x | as long as short |
| Coinbase International RENDER-PERP-INTXshort | +0.0168% | 1h | 1.8370 | +0.551% | $150K | $65K | 50x | |
| Phoenix RENDER | +0.0171% | 1h | 1.8384 | +0.628% | $47K | $297K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8340 | +0.387% | $587K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0363% / S −0.0912% | 1h | 1.8242 | −0.149% | $15K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSDlong | +0.0674% | 1h | 1.8269 | long leg | $470K | $1.0M | 50x | |
| Hyperliquid RENDER | +0.0759% | 1h | 1.8265 | −0.024% | $4.2M | $3.4M | 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]
Hyperliquid RENDER