Funding you earn now, next payment 06:00 UTC+0.0209%/8h= +22.8% APRpaid last 24h +0.006%
Price spread now: Phoenix against Phemex+0.127%7-day average +0.074% · you sell dearer than you buy
Net, funding: paid 7d − costs−$84as in the Funding arb table
Net, price: spread back to 7d avg − costs−$69as in the Price arb table
costs, in and out, $10k−$740.742% of the position
Funding, last 7 days−0.094%−$9 on $10k
+Price spread, last 4 days (all we have)+0.088%+$9 · spread now +0.127%, 7d avg +0.074%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.053% dearer against Phemex than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.074%. Mind the row above: over the last 7 days funding on this pair cost −0.094%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.094% in total (about -4.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex RENDERUSDT | 1.8140 | 0.0100 | pay 0.0100% / 8h | 1h 08m | $1.8M | $4.0M | 50x |
| Short | Phoenix RENDER | 1.8163 | 0.0309 | get 0.0039% / 1h | 8m 45s | $47K | $348K | 5x |
Phemex RENDERUSDT
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Phemex. 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
- $43.79
- Price spread: +0.127% → +0.074%
- $5.25
- Slippage, 4 orders
- −$55.16
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$25.11
- Costs to cover
- 0.742%
- Break-even
- 11.0 days
Slippage from Phemex: live order book, 5 min ago; Phoenix: live order book, 33 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 Phemex live order book, 5 min ago | 2.75 bp | 23.6 bp −$24 | 92.5 bp −$925 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 33 min ago | 1.11 bp | 13.5 bp −$13 | 45.5 bp −$455 | 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 | −0.0354% | 1h | 1.8040 | −0.551% | $11K | $194K | 12x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8146 | +0.033% | $18K | $37K | 25x | as long as short |
| dYdX RENDER-USD | +0.0026% | 1h | 1.8137 | −0.019% | $18K | $22K | 5x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8127 | −0.070% | $11.7M | $46.7M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8120 | −0.110% | $11.8M | $12.9M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8150 | +0.055% | $3.1M | $8.2M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8130 | −0.055% | $520K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8120 | −0.110% | $11.0M | $11.7M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8130 | −0.055% | $4.8M | $10.4M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8134 | −0.033% | $9.8M | $10.6M | 50x | as long as short |
Injective RENDER/USDC PERP
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTM
Bitget RENDERUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX RENDER-USDT | +0.0100% | 4h | 1.8130 | −0.055% | — | $5.1M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8122 | −0.101% | $257K | $314K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8139 | −0.006% | $40K | $251K | 50x | as long as short |
| Phemex RENDERUSDTlong | +0.0100% | 8h | 1.8140 | long leg | $1.8M | $4.0M | 50x | |
| Extended RENDER-USD | +0.0104% | 1h | 1.8122 | −0.098% | $26K | $167K | 10x | as long as short |
| Aster RENDERUSDT | +0.0170% | 4h | 1.8153 | +0.073% | $276K | $178K | 20x | as long as short |
| Hyperliquid RENDER | +0.0240% | 1h | 1.8149 | +0.050% | $4.1M | $3.3M | 5x | as long as short |
| Phoenix RENDERshort | +0.0309% | 1h | 1.8163 | +0.127% | $47K | $348K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8160 | +0.110% | $605K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0361% / S −0.0906% | 1h | 1.8144 | +0.021% | $15K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0560% | 1h | 1.8170 | +0.165% | $150K | $61K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1207% | 1h | 1.8153 | +0.072% | $421K | $1.4M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Extended RENDER-USD
Aster RENDERUSDT
Hyperliquid RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD