Funding you earn now, next payment 02:00 UTC−0.0159%/8h= −17.4% APRpaid last 24h +0.002%
Price spread now: KuCoin against Phoenix−0.216%78s7-day average −0.044% · you buy dearer than you sell
Net, funding: paid 7d − costs−$55as 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−$880.882% of the position
Funding, last 7 days+0.333%+$33 on $10k
+Price spread, last 4 days (all we have)−0.156%−$16 · spread now −0.216%, 7d avg −0.044%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and KuCoin is 0.172% cheaper against Phoenix than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.044%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.333%, so the current rate has only just turned against you. The two prices were read 78 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 | 1.8991 | 0.0259 | pay 0.0032% / 1h | 18m 07s | $49K | $246K | 5x |
| Short | KuCoin RENDERUSDTM | 1.8950 | 0.0100 | get 0.0050% / 4h | 1h 18m | $5.2M | $11.9M | 50x |
Phoenix RENDER
KuCoin RENDERUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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: −0.216% → −0.044%
- −$17.22
- Slippage, 4 orders
- −$69.17
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$138.85
- Costs to cover
- 0.882%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 43 min ago; KuCoin: live order book, 10 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, 43 min ago | 1.08 bp | 13.3 bp −$13 | 53.1 bp −$531 | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 10 min ago | 2.64 bp | 24.2 bp −$24 | 68.7 bp −$687 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX RENDER-USD | 0.0000% | 1h | 1.8926 | −0.341% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8949 | −0.221% | $11K | $30K | 25x | as long as short |
| Injective RENDER/USDC PERP | +0.0036% | 1h | 1.8880 | −0.584% | $6K | $188K | 12x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8940 | −0.269% | $12.6M | $46.9M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8936 | −0.290% | $12.1M | $13.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8950 | −0.216% | $3.2M | $8.4M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8941 | −0.263% | $585K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8940 | −0.269% | $14.1M | $11.1M | 200x | as long as short |
| KuCoin RENDERUSDTMshort | +0.0100% | 4h | 1.8950 | −0.216% | $5.2M | $11.9M | 50x | |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8945 | −0.242% | $10.4M | $10.7M | 50x | as long as short |
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Injective RENDER/USDC PERP
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
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 | 1.8940 | −0.269% | — | $3.5M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8877 | −0.603% | $269K | $313K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8892 | −0.521% | $43K | $254K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8950 | −0.216% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8949 | −0.221% | $28K | $198K | 10x | as long as short |
| Aster RENDERUSDT | +0.0244% | 4h | 1.8997 | +0.033% | $275K | $145K | 20x | as long as short |
| Phoenix RENDERlong | +0.0259% | 1h | 1.8991 | long leg | $49K | $246K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8920 | −0.374% | $591K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0369% / S −0.0912% | 1h | 1.8940 | −0.271% | $16K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0456% | 1h | 1.9130 | +0.732% | $157K | $58K | 50x | as long as short |
| Hyperliquid RENDER | +0.0881% | 1h | 1.8980 | −0.058% | $4.3M | $3.2M | 5x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1410% | 1h | 1.8967 | −0.126% | $491K | $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]
Coinbase International RENDER-PERP-INTX
Hyperliquid RENDER
Kraken Futures PF_RENDERUSD