Funding you earn now, next payment 00:00 UTC−0.0207%/8h= −22.7% APRnext payment −$1.04 per $10,000 · paid last 24h −0.008%
Price spread now: Bybit against BingX−0.075%7-day average −0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$530.525% of the position
Funding, last 7 days−0.070%−$7 on $10k
+Price spread, last 7 days+0.063%+$6 · spread now −0.075%, 7d avg −0.039%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.036% cheaper against BingX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.039%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.070% in total (about -3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.04 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 | BingX RENDER-USDT | 1.8670 | 0.0100 | pay 0.0050% / 4h | 2h 38m | — | $4.3M | — |
| Short | Bybit RENDERUSDT | 1.8656 | −0.0107 | pay 0.0054% / 4h | 2h 38m | $12.2M | $14.6M | 50x |
BingX RENDER-USDT
Bybit RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against BingX. 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
- −$43.51
- Price spread: −0.075% → −0.039%
- −$3.56
- Slippage, 4 orders
- −$31.52
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$99.58
- Costs to cover
- 0.525%
- Break-even
- never at this rate
Slippage from BingX: live order book, 2 min ago; Bybit: live order book, 5 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 BingX live order book, 2 min ago | 2.68 bp | 9.8 bp −$10 | 17.4 bp −$174 | 59.0 bp −$5,902 | 617.3 bp −$308.6K |
| Sell Bybit live order book, 5 min ago | 2.69 bp | 19.0 bp −$19 | 45.5 bp −$455 | 489.1 bp −$48.9K | 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 | −0.161% | $6K | $141K | 12x | as long as short |
| Variational Omni RENDER | −0.0257% | 4h | 1.8615 | −0.294% | $225K | $258K | — | as long as short |
| Bybit RENDERUSDTshort | −0.0107% | 4h | 1.8656 | −0.075% | $12.2M | $14.6M | 50x | |
| Deribit RENDER_USDC-PERPETUAL | −0.0071% | 1h | 1.8681 | +0.059% | $11K | $30K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8679 | +0.050% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8690 | +0.107% | $272K | $189K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8680 | +0.054% | $12.5M | $49.0M | 75x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8680 | +0.054% | $3.2M | $8.8M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8674 | +0.021% | $546K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8680 | +0.054% | $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
Binance 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 | 1.8670 | 0.000% | $5.2M | $13.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8684 | +0.075% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDTlong | +0.0100% | 4h | 1.8670 | long leg | — | $4.3M | — | |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8646 | −0.129% | $44K | $265K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8670 | 0.000% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8672 | +0.011% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8635 | −0.187% | $40K | $336K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8650 | −0.107% | $601K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0341% / S −0.0785% | 1h | 1.8680 | +0.055% | $14K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8640 | −0.161% | $154K | $68K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0744% | 1h | 1.8701 | +0.167% | $489K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.0936% | 1h | 1.8703 | +0.177% | $4.3M | $4.3M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
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