Funding you earn now, next payment 01:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h −0.004%
Price spread now: Phoenix against OKX−0.016%76s7-day average +0.054% · you buy dearer than you sell
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$620.617% of the position
Funding, last 7 days−0.151%−$15 on $10k
+Price spread, last 4 days (all we have)+0.716%+$72 · spread now −0.016%, 7d avg +0.054%
=Funding pays, the price is against you. Phoenix is 0.070% cheaper against OKX than usual: you would sell low and buy high (spread −0.016% now, against its 7-day average of +0.054%). If the spread goes back, that is −$7 on $10k: about 48 hours of funding at the current rate (+$4 a day). Mind the row above: over the last 7 days funding on this pair cost −0.151%, so the current rate has only just turned in your favour. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX RENDER-USDT-SWAP | 1.8450 | 0.0100 | pay 0.0050% / 4h | 2h 12m | $3.1M | $8.1M | 20x |
| Short | Phoenix RENDER | 1.8447 | 0.0217 | get 0.0027% / 1h | 12m 05s | $47K | $297K | 5x |
OKX RENDER-USDT-SWAP
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against OKX. 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
- $24.56
- Price spread: −0.016% → +0.054%
- −$7.01
- Slippage, 4 orders
- −$44.73
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$44.19
- Costs to cover
- 0.617%
- Break-even
- 19.6 days
Slippage from OKX: live order book, 1 min ago; Phoenix: live order book, 54 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, 1 min ago | 2.71 bp | 16.6 bp −$17 | 54.9 bp −$549 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 54 min ago | 1.08 bp | 13.3 bp −$13 | 45.6 bp −$456 | doesn't fit | doesn't fit |
RENDER on 21 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 | −0.0344% | 1h | 1.8430 | −0.108% | $6K | $188K | 12x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8416 | −0.186% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8433 | −0.092% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8440 | −0.054% | $266K | $141K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8430 | −0.108% | $12.1M | $45.8M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8425 | −0.136% | $11.8M | $12.9M | 50x | as long as short |
| OKX RENDER-USDT-SWAPlong | +0.0100% | 4h | 1.8450 | long leg | $3.1M | $8.1M | 20x | |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8427 | −0.125% | $563K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8430 | −0.108% | $11.0M | $10.9M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8440 | −0.054% | $4.9M | $12.0M | 50x | as long as short |
Injective RENDER/USDC PERP
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Binance RENDERUSDT
Bybit RENDERUSDT
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTMShow all 21 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8440 | −0.054% | $9.9M | $10.6M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8420 | −0.163% | — | $3.6M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8392 | −0.317% | $226K | $277K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8426 | −0.130% | $46K | $259K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8420 | −0.163% | $1.8M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8427 | −0.124% | $28K | $192K | 10x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0168% | 1h | 1.8520 | +0.379% | $151K | $59K | 50x | as long as short |
| Phoenix RENDERshort | +0.0217% | 1h | 1.8447 | −0.016% | $47K | $297K | 5x | |
| GMX RENDER/USD [ETH-USDC] | L +0.0364% / S −0.0912% | 1h | 1.8425 | −0.133% | $15K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0667% | 1h | 1.8457 | +0.039% | $489K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.0834% | 1h | 1.8463 | +0.070% | $4.2M | $3.3M | 5x | as long as short |
Bitget RENDERUSDT
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Coinbase International RENDER-PERP-INTX
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER