Funding arb · Price arb /

RENDER

all RENDER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0524%/8h= +57.4% APRpaid last 24h +0.080%

Price spread now: Coinbase International against MEXC+0.665%7-day average +0.324% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$1241.242% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.583%+$58 on $10k

Price spread, last 4 days (all we have)−0.987%−$99 · spread now +0.665%, 7d avg +0.324%

Together, before fees−0.404%−$40 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Coinbase International is 0.341% dearer against MEXC than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of +0.324%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC RENDER_USDT	1.8040	0.0100	pay 0.0050% / 4h	3h 40m	$10.8M	$11.5M	200x
Short	Coinbase International RENDER-PERP-INTX	1.8160	0.0624	get 0.0078% / 1h	40m 13s	$149K	$55K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now +0.665%Rate

Funding earned: $110.04
Price spread: +0.665% → +0.324%: $34.09
Slippage, 4 orders: −$114.21
Fee MEXC: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $19.92
Costs to cover: 1.242%
Break-even: 5.7 days

Slippage from MEXC: live order book, 3 min ago; Coinbase International: live order book, 58 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 MEXC live order book, 3 min ago	2.77 bp	2.8 bp −$3	11.5 bp −$115	62.5 bp −$6,247	239.1 bp −$119.5K
Sell Coinbase International live order book, 58 min ago	13.89 bp	45.1 bp −$45	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	−0.0013%	1h	1.8050	+0.055%	$11K	$194K	12x	as long as short
Deribit RENDER_USDC-PERPETUAL	+0.0027%	1h	1.8026	−0.078%	$24K	$28K	25x	as long as short
Aster RENDERUSDT	+0.0100%	4h	1.8054	+0.077%	$275K	$190K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8040	0.000%	$11.7M	$44.3M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8030	−0.055%	$11.9M	$11.9M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8040	0.000%	$3.1M	$7.9M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8026	−0.078%	$515K	$1.1M	50x	as long as short
MEXC RENDER_USDTlong	+0.0100%	4h	1.8040	long leg	$10.8M	$11.5M	200x
KuCoin RENDERUSDTM	+0.0100%	4h	1.8040	0.000%	$4.8M	$9.7M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8034	−0.033%	$9.8M	$10.4M	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX RENDER-USDT	+0.0100%	4h	1.8030	−0.055%	—	$5.1M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8002	−0.210%	$255K	$314K	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8064	+0.133%	$40K	$247K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8030	−0.055%	$1.8M	$3.8M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8024	−0.087%	$26K	$254K	10x	as long as short
Phoenix RENDER	+0.0265%	1h	1.8090	+0.277%	$46K	$309K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8010	−0.166%	$602K	$1.2M	90x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0360% / S −0.0906%	1h	1.8039	−0.006%	$15K	—	100x	as long as short
Kraken Futures PF_RENDERUSD	+0.0425%	1h	1.8043	+0.018%	$424K	$1.4M	50x	as long as short
dYdX RENDER-USD	+0.0510%	1h	1.8019	−0.116%	$18K	$22K	5x	as long as short
Hyperliquid RENDER	+0.0567%	1h	1.8057	+0.094%	$4.1M	$3.2M	5x	as long as short
Coinbase International RENDER-PERP-INTXshort	+0.0624%	1h	1.8160	+0.665%	$149K	$55K	50x