Funding you earn now, next payment 00:00 UTC−0.0497%/8h= −54.5% APRpaid last 24h −0.107%
Price spread now: Phemex against Kraken Futures−0.046%7-day average −0.098% · you buy dearer than you sell
Net, funding: paid 7d − costs−$168as in the Funding arb table
Net, price: spread back to 7d avg − costs−$94as in the Price arb table
costs, in and out, $10k−$990.989% of the position
Funding, last 7 days−0.688%−$69 on $10k
+Price spread, last 3 days (all we have)−0.062%−$6 · spread now −0.046%, 7d avg −0.098%
=The price spread pays, funding is against you. Phemex is 0.052% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.046% now, against its 7-day average of −0.098%): +$5 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 8 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_RENDERUSD | 1.8558 | 0.0597 | pay 0.0075% / 1h | 30m 43s | $481K | $1.1M | 50x |
| Short | Phemex RENDERUSDT | 1.8550 | 0.0100 | get 0.0100% / 8h | 30m 43s | $1.9M | $3.9M | 50x |
Kraken Futures PF_RENDERUSD
Phemex RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$104.46
- Price spread: −0.046% → −0.098%
- $5.24
- Slippage, 4 orders
- −$76.94
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$198.16
- Costs to cover
- 0.989%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; Phemex: live order book, 3 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 | 10.22 bp | 15.9 bp −$16 | 41.3 bp −$413 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 10.76 bp | 32.8 bp −$33 | 101.9 bp −$1,019 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni RENDER | −0.0093% | 4h | 1.8503 | −0.300% | $225K | $294K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8517 | −0.222% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8534 | −0.132% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8548 | −0.058% | $268K | $165K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8520 | −0.207% | $12.4M | $46.9M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8500 | −0.315% | $12.0M | $13.5M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8520 | −0.207% | $3.1M | $8.3M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8542 | −0.089% | $536K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8530 | −0.153% | $12.3M | $10.5M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8520 | −0.207% | $5.1M | $12.3M | 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 | 1.8527 | −0.170% | $10.0M | $10.2M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8530 | −0.153% | — | $4.2M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8574 | +0.084% | $43K | $266K | 50x | as long as short |
| Phemex RENDERUSDTshort | +0.0100% | 8h | 1.8550 | −0.046% | $1.9M | $3.9M | 50x | |
| Extended RENDER-USD | +0.0104% | 1h | 1.8526 | −0.172% | $31K | $178K | 10x | as long as short |
| Injective RENDER/USDC PERP | +0.0110% | 1h | 1.8540 | −0.100% | $6K | $187K | 12x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8562 | +0.019% | $47K | $333K | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0256% | 1h | 1.8440 | −0.638% | $152K | $65K | 50x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8550 | −0.046% | $594K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0363% / S −0.0912% | 1h | 1.8533 | −0.139% | $15K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSDlong | +0.0597% | 1h | 1.8558 | long leg | $481K | $1.1M | 50x | |
| Hyperliquid RENDER | +0.1715% | 1h | 1.8571 | +0.067% | $4.3M | $3.5M | 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
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER