Funding you earn now, next payment 03:00 UTC−0.0199%/8h= −21.8% APRnext payment −$0.25 per $10,000 · paid last 24h −0.001%
Price spread now: ApeX Omni against Phoenix−0.371%7-day average −0.036% · you buy dearer than you sell
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$92as in the Price arb table
costs, in and out, $10k−$590.588% of the position
Funding, last 7 days+0.258%+$26 on $10k
+Price spread, last 4 days (all we have)+0.291%+$29 · spread now −0.371%, 7d avg −0.036%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and ApeX Omni is 0.334% cheaper against Phoenix than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of −0.036%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.258%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix RENDER | 1.8343 | 0.0299 | pay 0.0037% / 1h | 31m 44s | $47K | $315K | 5x |
| Short | ApeX Omni RENDERUSDT | 1.8275 | 0.0100 | get 0.0013% / 1h | 31m 44s | $40K | $252K | 50x |
Phoenix RENDER
ApeX Omni RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Phoenix. 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
- −$41.87
- Price spread: −0.371% → −0.036%
- −$33.43
- Slippage, 4 orders
- −$41.75
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$134.05
- Costs to cover
- 0.588%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 23 min ago; ApeX Omni: live order book, 25 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 Phoenix live order book, 23 min ago | 1.07 bp | 13.5 bp −$14 | 53.3 bp −$533 | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 25 min ago | 8.02 bp | 15.5 bp −$15 | 125.0 bp −$1,250 | 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 | −0.0223% | 1h | 1.8200 | −0.780% | $6K | $188K | 12x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8318 | −0.136% | $10K | $30K | 25x | as long as short |
| dYdX RENDER-USD | +0.0084% | 1h | 1.8319 | −0.131% | $19K | $23K | 5x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8304 | −0.213% | $12.1M | $47.4M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8302 | −0.224% | $11.7M | $13.3M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8330 | −0.071% | $3.1M | $8.1M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8318 | −0.136% | $544K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8310 | −0.180% | $12.5M | $11.3M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8330 | −0.071% | $4.9M | $11.7M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8317 | −0.142% | $9.9M | $10.9M | 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 | 1.8330 | −0.071% | — | $3.6M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8202 | −0.770% | $259K | $313K | — | as long as short |
| ApeX Omni RENDERUSDTshort | +0.0100% | 1h | 1.8275 | −0.371% | $40K | $252K | 50x | |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8330 | −0.071% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8313 | −0.163% | $26K | $200K | 10x | as long as short |
| Aster RENDERUSDT | +0.0256% | 4h | 1.8327 | −0.087% | $266K | $151K | 20x | as long as short |
| Phoenix RENDERlong | +0.0299% | 1h | 1.8343 | long leg | $47K | $315K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8330 | −0.071% | $581K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0367% / S −0.0927% | 1h | 1.8330 | −0.072% | $16K | — | 100x | as long as short |
| Hyperliquid RENDER | +0.0491% | 1h | 1.8339 | −0.021% | $4.1M | $3.3M | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0720% | 1h | 1.8450 | +0.583% | $151K | $55K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1282% | 1h | 1.8337 | −0.035% | $477K | $1.1M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
Phemex RENDERUSDT
Extended RENDER-USD
Aster RENDERUSDT
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD