Funding you earn now, next payment 02:00 UTC−0.0159%/8h= −17.4% APRpaid last 24h +0.002%
Price spread now: MEXC against Phoenix+0.101%62s7-day average −0.090% · you sell dearer than you buy
Net, funding: paid 7d − costs−$16as 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−$370.372% of the position
Funding, last 7 days+0.212%+$21 on $10k
+Price spread, last 4 days (all we have)−0.537%−$54 · spread now +0.101%, 7d avg −0.090%
=The price spread pays, funding is against you. MEXC is 0.191% dearer against Phoenix than usual: you sell high and buy low (spread +0.101% now, against its 7-day average of −0.090%): +$19 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 4.0 days. 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 62 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 | 1.8881 | 0.0259 | pay 0.0032% / 1h | 22m 20s | $48K | $246K | 5x |
| Short | MEXC RENDER_USDT | 1.8900 | 0.0100 | get 0.0050% / 4h | 1h 22m | $14.1M | $11.1M | 200x |
Phoenix RENDER
MEXC RENDER_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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: +0.101% → −0.090%
- $19.06
- Slippage, 4 orders
- −$30.19
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$51.58
- Costs to cover
- 0.372%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 39 min ago; MEXC: 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, 39 min ago | 1.08 bp | 13.3 bp −$13 | 53.1 bp −$531 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 1 min ago | 5.28 bp | 5.3 bp −$5 | 12.4 bp −$124 | 67.8 bp −$6,778 | 219.2 bp −$109.6K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit RENDER_USDC-PERPETUAL | −0.0015% | 1h | 1.8890 | +0.048% | $11K | $30K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8964 | +0.441% | $19K | $21K | 5x | as long as short |
| Injective RENDER/USDC PERP | +0.0036% | 1h | 1.8870 | −0.058% | $6K | $188K | 12x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8911 | +0.158% | $12.6M | $46.9M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8890 | +0.048% | $12.0M | $13.1M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8900 | +0.101% | $3.2M | $8.3M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8910 | +0.154% | $587K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDTshort | +0.0100% | 4h | 1.8900 | +0.101% | $14.1M | $11.1M | 200x | |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8930 | +0.260% | $5.2M | $11.8M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8905 | +0.127% | $10.4M | $10.7M | 50x | as long as short |
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Injective RENDER/USDC PERP
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate 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 | 1.8910 | +0.154% | — | $3.5M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8901 | +0.107% | $269K | $313K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8976 | +0.503% | $44K | $254K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8920 | +0.207% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8897 | +0.085% | $28K | $198K | 10x | as long as short |
| Aster RENDERUSDT | +0.0223% | 4h | 1.8942 | +0.323% | $274K | $145K | 20x | as long as short |
| Phoenix RENDERlong | +0.0259% | 1h | 1.8881 | long leg | $48K | $246K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8950 | +0.365% | $594K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0368% / S −0.0912% | 1h | 1.8888 | +0.036% | $16K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0456% | 1h | 1.9130 | +1.319% | $157K | $58K | 50x | as long as short |
| Hyperliquid RENDER | +0.0885% | 1h | 1.8944 | +0.336% | $4.3M | $3.2M | 5x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1415% | 1h | 1.8911 | +0.157% | $489K | $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