Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against MEXC+0.011%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1061.058% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$4 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.011%, 7d avg −0.022%

Together, before fees−0.124%−$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.033% dearer against MEXC than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC RENDER_USDT	1.8610	0.0100	pay 0.0050% / 4h	2h 41m	$12.1M	$10.2M	200x
Short	Gate RENDER_USDT	1.8612	0.0100	get 0.0050% / 4h	2h 41m	$545K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.011%Rate

Funding earned: $0
Price spread: +0.011% → −0.022%: $3.28
Slippage, 4 orders: −$90.83
Fee MEXC: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$102.55
Costs to cover: 1.058%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Gate: live order book, 5 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, 1 min ago	2.68 bp	2.7 bp −$3	8.9 bp −$89	39.4 bp −$3,937	195.2 bp −$97.6K
Sell Gate live order book, 5 min ago	6.45 bp	45.1 bp −$45	152.9 bp −$1,529	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	−0.0440%	1h	1.8630	+0.107%	$6K	$141K	12x	as long as short
Variational Omni RENDER	−0.0246%	4h	1.8580	−0.161%	$223K	$255K	—	as long as short
Bybit RENDERUSDT	−0.0208%	4h	1.8583	−0.145%	$12.1M	$14.6M	50x	as long as short
Deribit RENDER_USDC-PERPETUAL	−0.0018%	1h	1.8636	+0.140%	$11K	$33K	25x	as long as short
dYdX RENDER-USD	0.0000%	1h	1.8629	+0.104%	$19K	$21K	5x	as long as short
Aster RENDERUSDT	+0.0100%	4h	1.8639	+0.156%	$271K	$189K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8611	+0.007%	$12.4M	$49.1M	75x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8620	+0.054%	$3.2M	$8.8M	20x	as long as short
Gate RENDER_USDTshort	+0.0100%	4h	1.8612	+0.011%	$545K	$1.1M	50x
MEXC RENDER_USDTlong	+0.0100%	4h	1.8610	long leg	$12.1M	$10.2M	200x

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin RENDERUSDTM	+0.0100%	4h	1.8610	0.000%	$5.2M	$13.0M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8617	+0.038%	$10.0M	$10.4M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8610	0.000%	—	$4.3M	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8618	+0.043%	$44K	$265K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8610	0.000%	$1.9M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8619	+0.050%	$31K	$178K	10x	as long as short
Phoenix RENDER	+0.0173%	1h	1.8615	+0.027%	$40K	$336K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8590	−0.107%	$602K	$1.4M	90x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0341% / S −0.0785%	1h	1.8640	+0.160%	$14K	—	100x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0520%	1h	1.8570	−0.215%	$153K	$68K	50x	as long as short
Kraken Futures PF_RENDERUSD	+0.0745%	1h	1.8653	+0.229%	$487K	$1.1M	50x	as long as short
Hyperliquid RENDER	+0.1014%	1h	1.8645	+0.188%	$4.2M	$4.3M	5x	as long as short