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: MEXC against OKX−0.054%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$420.425% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 7 days+0.090%+$9 · spread now −0.054%, 7d avg −0.011%

Together, before fees+0.162%+$16 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: MEXC is 0.043% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX RENDER-USDT-SWAP	1.8530	0.0100	pay 0.0050% / 4h	34m 21s	$3.1M	$8.3M	20x
Short	MEXC RENDER_USDT	1.8520	0.0100	get 0.0050% / 4h	34m 21s	$12.3M	$10.5M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against OKX. 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 OKXbpFee MEXCbpOrdersPrice spread, now −0.054%Rate

Funding earned: $0
Price spread: −0.054% → −0.011%: −$4.25
Slippage, 4 orders: −$32.45
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$46.71
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; MEXC: 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 OKX live order book, 4 min ago	2.69 bp	16.0 bp −$16	46.2 bp −$462	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	2.69 bp	2.7 bp −$3	6.9 bp −$69	32.4 bp −$3,245	184.3 bp −$92.2K

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	1.8543	+0.069%	$224K	$296K	—	as long as short
dYdX RENDER-USD	0.0000%	1h	1.8548	+0.095%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8528	−0.011%	$11K	$30K	25x	as long as short
Aster RENDERUSDT	+0.0100%	4h	1.8555	+0.136%	$268K	$166K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8525	−0.024%	$12.3M	$47.0M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8500	−0.162%	$12.0M	$13.5M	50x	as long as short
OKX RENDER-USDT-SWAPlong	+0.0100%	4h	1.8530	long leg	$3.1M	$8.3M	20x
Gate RENDER_USDT	+0.0100%	4h	1.8538	+0.043%	$536K	$1.1M	50x	as long as short
MEXC RENDER_USDTshort	+0.0100%	4h	1.8520	−0.054%	$12.3M	$10.5M	200x
KuCoin RENDERUSDTM	+0.0100%	4h	1.8520	−0.054%	$5.1M	$12.4M	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget RENDERUSDT	+0.0100%	4h	1.8530	0.000%	$10.0M	$10.3M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8520	−0.054%	—	$4.2M	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8569	+0.210%	$43K	$266K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8550	+0.108%	$1.9M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8540	+0.055%	$31K	$178K	10x	as long as short
Injective RENDER/USDC PERP	+0.0110%	1h	1.8550	+0.108%	$6K	$187K	12x	as long as short
Phoenix RENDER	+0.0173%	1h	1.8589	+0.318%	$47K	$333K	5x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0256%	1h	1.8440	−0.486%	$152K	$65K	50x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8560	+0.162%	$595K	$1.2M	90x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0363% / S −0.0912%	1h	1.8512	−0.099%	$15K	—	100x	as long as short
Kraken Futures PF_RENDERUSD	+0.0597%	1h	1.8567	+0.200%	$482K	$1.1M	50x	as long as short
Hyperliquid RENDER	+0.1749%	1h	1.8571	+0.221%	$4.3M	$3.5M	5x	as long as short