Funding you earn now, next payment 00:00 UTC+0.0169%/8h= +18.5% APRpaid last 24h +0.076%
Price spread now: BloFin against Phoenix−0.239%7-day average −0.040% · you buy dearer than you sell
Net, funding: paid 7d − costs+$10as in the Funding arb table
Net, price: spread back to 7d avg − costs−$81as in the Price arb table
costs, in and out, $10k−$610.612% of the position
Funding, last 7 days+0.715%+$72 on $10k
+Price spread, last 3 days (all we have)+0.063%+$6 · spread now −0.239%, 7d avg −0.040%
=Funding pays, the price is against you. BloFin is 0.200% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.239% now, against its 7-day average of −0.040%). If the spread goes back, that is −$20 on $10k: about 3.9 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.715% in total) that is about 47 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix RENDER | 1.8384 | 0.0171 | pay 0.0021% / 1h | 56m 46s | $47K | $297K | 5x |
| Short | BloFin RENDER-USDT | 1.8340 | 0.0340 | get 0.0170% / 4h | 2h 56m | $587K | $1.1M | 90x |
Phoenix RENDER
BloFin RENDER-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- $35.53
- Price spread: −0.239% → −0.040%
- −$19.98
- Slippage, 4 orders
- −$42.24
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$45.69
- Costs to cover
- 0.612%
- Break-even
- 16.0 days
Slippage from Phoenix: live order book, 9 min ago; BloFin: live order book, 6 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, 9 min ago | 1.08 bp | 13.3 bp −$13 | 53.4 bp −$534 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 6 min ago | 2.71 bp | 10.2 bp −$10 | 18.2 bp −$182 | 63.8 bp −$6,376 | 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 | −0.0344% | 1h | 1.8380 | −0.022% | $6K | $188K | 12x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8377 | −0.039% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8349 | −0.190% | $10K | $30K | 25x | as long as short |
| Variational Omni RENDER | +0.0055% | 4h | 1.8412 | +0.151% | $226K | $279K | — | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8327 | −0.310% | $265K | $142K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8294 | −0.492% | $12.2M | $46.2M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8283 | −0.549% | $11.8M | $13.0M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8300 | −0.457% | $3.1M | $8.0M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8289 | −0.517% | $515K | $1.0M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8300 | −0.457% | $11.1M | $10.8M | 200x | as long as short |
Injective RENDER/USDC PERP
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Variational Omni RENDER
Aster RENDERUSDT
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8300 | −0.457% | $4.9M | $12.2M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8293 | −0.495% | $9.8M | $10.6M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8300 | −0.457% | — | $3.9M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8441 | +0.310% | $46K | $269K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8360 | −0.131% | $1.8M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8297 | −0.471% | $28K | $201K | 10x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0168% | 1h | 1.8360 | −0.131% | $151K | $64K | 50x | as long as short |
| Phoenix RENDERlong | +0.0171% | 1h | 1.8384 | long leg | $47K | $297K | 5x | |
| BloFin RENDER-USDTshort | +0.0340% | 4h | 1.8340 | −0.239% | $587K | $1.1M | 90x | |
| GMX RENDER/USD [ETH-USDC] | L +0.0363% / S −0.0912% | 1h | 1.8341 | −0.231% | $15K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0670% | 1h | 1.8363 | −0.112% | $473K | $1.0M | 50x | as long as short |
| Hyperliquid RENDER | +0.0943% | 1h | 1.8334 | −0.272% | $4.2M | $3.4M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Coinbase International RENDER-PERP-INTX
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER