Funding you earn now, next payment 00:00 UTC−0.0205%/8h= −22.4% APRnext payment −$1.02 per $10,000 · paid last 24h −0.008%
Price spread now: Bybit against Binance−0.186%7-day average −0.063% · you buy dearer than you sell
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$620.620% of the position
Funding, last 7 days+0.040%+$4 on $10k
+Price spread, last 7 days+0.210%+$21 · spread now −0.186%, 7d avg −0.063%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.123% cheaper against Binance than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.063%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.040% in total (about 2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.02 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 | Binance RENDERUSDT | 1.8695 | 0.0100 | pay 0.0050% / 4h | 2h 37m | $12.5M | $49.0M | 75x |
| Short | Bybit RENDERUSDT | 1.8660 | −0.0105 | pay 0.0052% / 4h | 2h 37m | $12.2M | $14.6M | 50x |
Binance RENDERUSDT
Bybit RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. 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
- −$42.95
- Price spread: −0.186% → −0.063%
- −$12.27
- Slippage, 4 orders
- −$41.04
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$117.27
- Costs to cover
- 0.620%
- Break-even
- never at this rate
Slippage from Binance: live order book, 5 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 Binance live order book, 5 min ago | 2.69 bp | 11.9 bp −$12 | 29.5 bp −$295 | 187.5 bp −$18.8K | doesn't fit |
| Sell Bybit live order book, 1 min ago | 2.68 bp | 20.3 bp −$20 | 46.9 bp −$469 | 456.6 bp −$45.7K | 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 | −0.0440% | 1h | 1.8640 | −0.293% | $6K | $141K | 12x | as long as short |
| Variational Omni RENDER | −0.0257% | 4h | 1.8615 | −0.426% | $225K | $258K | — | as long as short |
| Bybit RENDERUSDTshort | −0.0105% | 4h | 1.8660 | −0.186% | $12.2M | $14.6M | 50x | |
| Deribit RENDER_USDC-PERPETUAL | −0.0071% | 1h | 1.8691 | −0.020% | $11K | $30K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8699 | +0.025% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8697 | +0.012% | $272K | $189K | 20x | as long as short |
| Binance RENDERUSDTlong | +0.0100% | 4h | 1.8695 | long leg | $12.5M | $49.0M | 75x | |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8690 | −0.026% | $3.2M | $8.8M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8680 | −0.079% | $547K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8680 | −0.079% | $12.0M | $10.2M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Aster 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 | 1.8680 | −0.079% | $5.2M | $13.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8684 | −0.058% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8680 | −0.079% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8646 | −0.261% | $44K | $265K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8690 | −0.026% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8693 | −0.012% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8683 | −0.063% | $40K | $336K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8650 | −0.239% | $601K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0341% / S −0.0785% | 1h | 1.8692 | −0.016% | $14K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8640 | −0.293% | $154K | $68K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0743% | 1h | 1.8718 | +0.124% | $490K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.0910% | 1h | 1.8713 | +0.098% | $4.3M | $4.3M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER