Funding you earn now, next payment 23:00 UTC+0.0073%/8h= +7.9% APRpaid last 24h −0.003%
Price spread now: Phoenix against Binance−0.092%85s7-day average +0.056% · you buy dearer than you sell
Net, funding: paid 7d − costs−$74as 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−$510.513% of the position
Funding, last 7 days−0.230%−$23 on $10k
+Price spread, last 3 days (all we have)+0.345%+$35 · spread now −0.092%, 7d avg +0.056%
=Funding pays, the price is against you. Phoenix is 0.148% cheaper against Binance than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of +0.056%). If the spread goes back, that is −$15 on $10k: about 6.8 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.230%, so the current rate has only just turned in your favour. The two prices were read 85 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 | Binance RENDERUSDT | 1.8737 | 0.0100 | pay 0.0050% / 4h | 4m 06s | $12.5M | $46.9M | 75x |
| Short | Phoenix RENDER | 1.8720 | 0.0173 | get 0.0022% / 1h | 4m 06s | $48K | $333K | 5x |
Binance RENDERUSDT
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $15.23
- Price spread: −0.092% → +0.056%
- −$14.77
- Slippage, 4 orders
- −$34.34
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$50.89
- Costs to cover
- 0.513%
- Break-even
- 30.4 days
Slippage from Binance: live order book, 8 min ago; Phoenix: live order book, 7 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, 8 min ago | 2.68 bp | 12.5 bp −$12 | 26.6 bp −$266 | 148.6 bp −$14.9K | doesn't fit |
| Sell Phoenix live order book, 7 min ago | 1.07 bp | 13.5 bp −$14 | 45.4 bp −$454 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni RENDER | −0.0075% | 4h | 1.8632 | −0.559% | $229K | $293K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8727 | −0.053% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8735 | −0.012% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8730 | −0.037% | $270K | $164K | 20x | as long as short |
| Binance RENDERUSDTlong | +0.0100% | 4h | 1.8737 | long leg | $12.5M | $46.9M | 75x | |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8720 | −0.092% | $12.1M | $13.4M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8740 | +0.015% | $3.2M | $8.4M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8729 | −0.044% | $540K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8730 | −0.039% | $12.1M | $10.7M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8710 | −0.145% | $5.2M | $12.2M | 50x | as long as short |
Variational Omni RENDER
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTMShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8739 | +0.009% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8720 | −0.092% | — | $4.1M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8705 | −0.172% | $45K | $268K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8730 | −0.039% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8734 | −0.016% | $31K | $178K | 10x | as long as short |
| Injective RENDER/USDC PERP | +0.0110% | 1h | 1.8670 | −0.359% | $6K | $187K | 12x | as long as short |
| Phoenix RENDERshort | +0.0173% | 1h | 1.8720 | −0.092% | $48K | $333K | 5x | |
| Coinbase International RENDER-PERP-INTX | +0.0256% | 1h | 1.8650 | −0.466% | $154K | $64K | 50x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8740 | +0.015% | $595K | $1.3M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0365% / S −0.0912% | 1h | 1.8736 | −0.007% | $16K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0591% | 1h | 1.8756 | +0.101% | $482K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.1365% | 1h | 1.8767 | +0.159% | $4.4M | $3.4M | 5x | as long as short |
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Injective RENDER/USDC PERP
Coinbase International RENDER-PERP-INTX
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER