Funding you earn now, next payment 00:00 UTC+0.0384%/8h= +42.0% APRpaid last 24h +0.053%
Price spread now: Phemex against Variational Omni+0.529%7-day average +0.096% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.083%+$8 on $10k
+Price spread, last 3 days (all we have)−0.643%−$64 · spread now +0.529%, 7d avg +0.096%
=Together, before fees−0.560%+ Points / potential airdropVariational Omni: Active · farm board−$56 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Phemex is 0.432% dearer against Variational Omni than usual: you sell high and buy low: +$43 more if the spread goes back to its 7-day average of +0.096%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.083% in total (about 9.3% a year). A funding rate is set anew for every payment. 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 | Variational Omni RENDER | 1.8403 | −0.0284 | get 0.0142% / 4h | 1h 24m | $223K | $297K | — |
| Short | Phemex RENDERUSDT | 1.8500 | 0.0100 | get 0.0100% / 8h | 1h 24m | $1.8M | $4.0M | 50x |
Variational Omni RENDER
Phemex RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Variational Omni. 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
- $80.57
- Price spread: +0.529% → +0.096%
- $43.23
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $111.8
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 60 min ago; Phemex: live order book, 4 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 Variational Omni RFQ quote, 60 min ago | 5.41 bp | doesn't fit | 57.9 bp −$579 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 8.14 bp | 28.8 bp −$29 | 97.6 bp −$976 | 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 PERP | −0.0576% | 1h | 1.8400 | −0.015% | $6K | $187K | 12x | as long as short |
| Variational Omni RENDERlong | −0.0284% | 4h | 1.8403 | long leg | $223K | $297K | — | |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8488 | +0.461% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8512 | +0.594% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8501 | +0.535% | $264K | $176K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8470 | +0.366% | $12.2M | $48.1M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8447 | +0.241% | $12.0M | $13.9M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8480 | +0.420% | $3.1M | $8.5M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8488 | +0.464% | $536K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8500 | +0.529% | $11.9M | $10.5M | 200x | as long as short |
Injective RENDER/USDC PERP
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
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 | 1.8480 | +0.420% | $5.0M | $12.7M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8497 | +0.512% | $10.0M | $10.5M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8500 | +0.529% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8403 | +0.002% | $43K | $267K | 50x | as long as short |
| Phemex RENDERUSDTshort | +0.0100% | 8h | 1.8500 | +0.529% | $1.8M | $4.0M | 50x | |
| Extended RENDER-USD | +0.0104% | 1h | 1.8486 | +0.455% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0131% | 1h | 1.8428 | +0.137% | $40K | $325K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8480 | +0.420% | $593K | $1.3M | 90x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0352% | 1h | 1.8440 | +0.203% | $152K | $66K | 50x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0363% / S −0.0912% | 1h | 1.8501 | +0.533% | $15K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0577% | 1h | 1.8539 | +0.741% | $485K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.0625% | 1h | 1.8518 | +0.627% | $4.2M | $3.5M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
Coinbase International RENDER-PERP-INTX
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER