Funding you earn now, next payment 02:00 UTC−0.0482%/8h= −52.8% APRnext payment −$0.60 per $10,000 · paid last 24h −0.199%
Price spread now: Injective against Phoenix−0.182%7-day average −0.211% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.112%−$11 on $10k
+Price spread, last 4 days (all we have)−0.376%−$38 · spread now −0.182%, 7d avg −0.211%
=The price spread pays, funding is against you. Injective is 0.029% dearer against Phoenix than usual: you sell high and buy low (spread −0.182% now, against its 7-day average of −0.211%): +$3 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.112% in total) that is about 44 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.112% in total (about -5.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.60 per $10,000. 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 | Phoenix RENDER | 1.8684 | 0.0259 | pay 0.0032% / 1h | 57m 32s | $48K | $242K | 5x |
| Short | Injective RENDER/USDC PERP | 1.8650 | −0.0223 | pay 0.0028% / 1h | 57m 32s | $6K | $188K | 12x |
Phoenix RENDER
Injective RENDER/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$101.32
- Price spread: −0.182% → −0.211%
- $2.94
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$105.4
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 63 min ago; Injective: live order book, 17 min ago. Net counts fees only.
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 Injective live order book, 17 min ago | 60.80 bp | doesn't fit | doesn't fit | 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 PERPshort | −0.0223% | 1h | 1.8650 | −0.182% | $6K | $188K | 12x | |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8577 | −0.574% | $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 RENDERUSDT | +0.0100% | 4h | 1.8583 | −0.543% | $12.4M | $47.0M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8580 | −0.557% | $11.8M | $13.3M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8610 | −0.396% | $3.1M | $8.2M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8581 | −0.551% | $568K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8580 | −0.557% | $13.0M | $11.1M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8590 | −0.503% | $5.0M | $11.8M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8585 | −0.530% | $10.2M | $10.8M | 50x | as long as short |
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
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 | 1.8580 | −0.557% | — | $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 | 1.8575 | −0.584% | $27K | $200K | 10x | as long as short |
| Phoenix RENDERlong | +0.0259% | 1h | 1.8684 | long leg | $48K | $242K | 5x | |
| Aster RENDERUSDT | +0.0320% | 4h | 1.8612 | −0.385% | $269K | $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 | +0.0434% | 1h | 1.8612 | −0.385% | $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