Funding arb · Price arb /

RENDER

all RENDER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0478%/8h= +52.4% APRpaid last 24h +0.093%

Price spread now: Kraken Futures against MEXC+0.231%7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs+$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$570.575% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)−0.359%−$36 · spread now +0.231%, 7d avg +0.098%

Together, before fees+0.224%+$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Kraken Futures is 0.134% dearer against MEXC than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.098%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC RENDER_USDT	1.8450	0.0100	pay 0.0050% / 4h	1h 54m	$11.7M	$10.2M	200x
Short	Kraken Futures PF_RENDERUSD	1.8493	0.0578	get 0.0072% / 1h	54m 06s	$470K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.231%Rate

Funding earned: $100.43
Price spread: +0.231% → +0.098%: $13.36
Slippage, 4 orders: −$47.46
Fee MEXC: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $56.33
Costs to cover: 0.575%
Break-even: 3.1 days

Slippage from MEXC: live order book, 4 min ago; Kraken Futures: live order book, 4 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, 4 min ago	2.72 bp	2.7 bp −$3	11.2 bp −$112	45.5 bp −$4,552	208.1 bp −$104.1K
Sell Kraken Futures live order book, 4 min ago	19.03 bp	26.6 bp −$27	54.2 bp −$542	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	−0.0576%	1h	1.8450	0.000%	$6K	$165K	12x	as long as short
Variational Omni RENDER	−0.0355%	4h	1.8443	−0.036%	$222K	$296K	—	as long as short
dYdX RENDER-USD	0.0000%	1h	1.8467	+0.090%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8468	+0.098%	$11K	$30K	25x	as long as short
Aster RENDERUSDT	+0.0100%	4h	1.8475	+0.136%	$264K	$181K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8454	+0.020%	$12.2M	$48.6M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8430	−0.108%	$12.0M	$14.2M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8460	+0.054%	$3.1M	$8.6M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8459	+0.049%	$537K	$1.1M	50x	as long as short
MEXC RENDER_USDTlong	+0.0100%	4h	1.8450	long leg	$11.7M	$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	1.8450	0.000%	$5.0M	$12.9M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8453	+0.016%	$9.9M	$10.4M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8450	0.000%	—	$4.4M	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8403	−0.255%	$43K	$268K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8450	0.000%	$1.8M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8459	+0.047%	$31K	$178K	10x	as long as short
Phoenix RENDER	+0.0173%	1h	1.8377	−0.396%	$40K	$325K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8440	−0.054%	$595K	$1.4M	90x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0352%	1h	1.8670	+1.192%	$154K	$69K	50x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0361% / S −0.0904%	1h	1.8462	+0.067%	$15K	—	100x	as long as short
Kraken Futures PF_RENDERUSDshort	+0.0578%	1h	1.8493	+0.231%	$470K	$1.1M	50x
Hyperliquid RENDER	+0.0845%	1h	1.8477	+0.146%	$4.2M	$3.6M	5x	as long as short