Funding you earn now, next payment 02:00 UTC−0.0159%/8h= −17.4% APRpaid last 24h +0.002%
Price spread now: Binance against Phoenix−0.242%75s7-day average −0.059% · you buy dearer than you sell
Net, funding: paid 7d − costs−$32as 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−$530.529% of the position
Funding, last 7 days+0.212%+$21 on $10k
+Price spread, last 4 days (all we have)−0.255%−$26 · spread now −0.242%, 7d avg −0.059%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Binance is 0.183% cheaper against Phoenix than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.059%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.212%, so the current rate has only just turned against you. The two prices were read 75 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 | Phoenix RENDER | 1.8684 | 0.0259 | pay 0.0032% / 1h | 58m 21s | $48K | $242K | 5x |
| Short | Binance RENDERUSDT | 1.8639 | 0.0100 | get 0.0050% / 4h | 58m 21s | $12.5M | $47.0M | 75x |
Phoenix RENDER
Binance RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$33.45
- Price spread: −0.242% → −0.059%
- −$18.26
- Slippage, 4 orders
- −$35.87
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$104.58
- Costs to cover
- 0.529%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 63 min ago; Binance: live order book, 14 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, 63 min ago | 1.08 bp | 13.3 bp −$13 | 53.1 bp −$531 | doesn't fit | doesn't fit |
| Sell Binance live order book, 14 min ago | 2.66 bp | 14.5 bp −$14 | 30.6 bp −$306 | 129.9 bp −$13.0K | 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 | 1.8650 | −0.182% | $6K | $188K | 12x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8697 | +0.069% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8641 | −0.230% | $11K | $30K | 25x | as long as short |
| Binance RENDERUSDTshort | +0.0100% | 4h | 1.8639 | −0.242% | $12.5M | $47.0M | 75x | |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8618 | −0.353% | $11.9M | $13.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8650 | −0.182% | $3.1M | $8.2M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8655 | −0.155% | $570K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8650 | −0.182% | $13.8M | $11.1M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8660 | −0.128% | $5.1M | $11.8M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8654 | −0.161% | $10.2M | $10.8M | 50x | as long as short |
Injective RENDER/USDC PERP
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
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 | 1.8680 | −0.021% | — | $3.6M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8641 | −0.229% | $265K | $313K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8674 | −0.054% | $42K | $253K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8650 | −0.182% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8645 | −0.208% | $27K | $200K | 10x | as long as short |
| Phoenix RENDERlong | +0.0259% | 1h | 1.8684 | long leg | $48K | $242K | 5x | |
| Aster RENDERUSDT | +0.0317% | 4h | 1.8697 | +0.071% | $271K | $144K | 20x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8690 | +0.032% | $594K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0367% / S −0.0912% | 1h | 1.8646 | −0.202% | $16K | — | 100x | as long as short |
| Hyperliquid RENDER | +0.0605% | 1h | 1.8683 | −0.005% | $4.2M | $3.2M | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0720% | 1h | 1.8900 | +1.156% | $155K | $57K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1260% | 1h | 1.8662 | −0.116% | $485K | $1.1M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
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