Funding you earn now, next payment 02:00 UTC−0.0159%/8h= −17.4% APRpaid last 24h −0.006%
Price spread now: Bybit against Phoenix+0.048%7-day average −0.157% · you sell dearer than you buy
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$640.643% of the position
Funding, last 7 days+0.252%+$25 on $10k
+Price spread, last 4 days (all we have)−0.647%−$65 · spread now +0.048%, 7d avg −0.157%
=The price spread pays, funding is against you. Bybit is 0.205% dearer against Phoenix than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of −0.157%): +$20 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.252%, 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 | 1.8671 | 0.0259 | pay 0.0032% / 1h | 47m 10s | $47K | $246K | 5x |
| Short | Bybit RENDERUSDT | 1.8680 | 0.0100 | get 0.0050% / 4h | 1h 47m | $12.0M | $12.6M | 50x |
Phoenix RENDER
Bybit RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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: +0.048% → −0.157%
- $20.48
- Slippage, 4 orders
- −$46.28
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$77.26
- Costs to cover
- 0.643%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 14 min ago; Bybit: live order book, 1 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, 14 min ago | 1.08 bp | 13.3 bp −$13 | 53.1 bp −$531 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 5.35 bp | 17.8 bp −$18 | 49.4 bp −$494 | 308.2 bp −$30.8K | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX RENDER-USD | 0.0000% | 1h | 1.8666 | −0.025% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8670 | −0.005% | $11K | $30K | 25x | as long as short |
| Injective RENDER/USDC PERP | +0.0036% | 1h | 1.8650 | −0.112% | $6K | $188K | 12x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8690 | +0.102% | $270K | $139K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8690 | +0.102% | $12.4M | $44.8M | 75x | as long as short |
| Bybit RENDERUSDTshort | +0.0100% | 4h | 1.8680 | +0.048% | $12.0M | $12.6M | 50x | |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8690 | +0.102% | $3.1M | $8.0M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8664 | −0.037% | $577K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8680 | +0.048% | $11.3M | $10.7M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8670 | −0.005% | $5.1M | $11.8M | 50x | as long as short |
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Injective RENDER/USDC PERP
Aster RENDERUSDT
Binance RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTMShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8682 | +0.059% | $10.1M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8680 | +0.048% | — | $3.5M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8681 | +0.055% | $230K | $276K | — | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8660 | −0.059% | $1.9M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8670 | −0.007% | $27K | $198K | 10x | as long as short |
| Phoenix RENDERlong | +0.0259% | 1h | 1.8671 | long leg | $47K | $246K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8650 | −0.112% | — | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0367% / S −0.0912% | 1h | 1.8652 | −0.103% | $16K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0456% | 1h | 1.8730 | +0.316% | $152K | $53K | 50x | as long as short |
| ApeX Omni RENDERUSDT | +0.0676% | 1h | 1.8620 | −0.273% | $46K | $252K | 50x | as long as short |
| Hyperliquid RENDER | +0.0967% | 1h | 1.8705 | +0.182% | $4.3M | $3.2M | 5x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1432% | 1h | 1.8686 | +0.083% | $488K | $1.0M | 50x | as long as short |
Bitget RENDERUSDT
BingX RENDER-USDT
Variational Omni RENDER
Phemex RENDERUSDT
Extended RENDER-USD
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
ApeX Omni RENDERUSDT
Hyperliquid RENDER
Kraken Futures PF_RENDERUSD