Funding you earn now, next payment 21:00 UTC+0.0073%/8h= +7.9% APRpaid last 24h −0.004%
Price spread now: Phoenix against BingX−0.450%109s7-day average +0.076% · you buy dearer than you sell
Net, funding: paid 7d − costs−$87as 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−$530.527% of the position
Funding, last 7 days−0.343%−$34 on $10k
+Price spread, last 3 days (all we have)+0.853%+$85 · spread now −0.450%, 7d avg +0.076%
=Funding pays, the price is against you. Phoenix is 0.526% cheaper against BingX than usual: you would sell low and buy high (spread −0.450% now, against its 7-day average of +0.076%). If the spread goes back, that is −$53 on $10k: about 24 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.343%, so the current rate has only just turned in your favour. The two prices were read 109 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 | BingX RENDER-USDT | 1.8460 | 0.0100 | pay 0.0050% / 4h | 1h 53m | — | $4.4M | — |
| Short | Phoenix RENDER | 1.8377 | 0.0173 | get 0.0022% / 1h | 53m 37s | $40K | $325K | 5x |
BingX RENDER-USDT
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $15.23
- Price spread: −0.450% → +0.076%
- −$52.59
- Slippage, 4 orders
- −$35.67
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$90.04
- Costs to cover
- 0.527%
- Break-even
- 48.4 days
Slippage from BingX: live order book, 12 min ago; Phoenix: live order book, 27 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, 12 min ago | 5.43 bp | 15.1 bp −$15 | 22.1 bp −$221 | 79.8 bp −$7,984 | 696.9 bp −$348.5K |
| Sell Phoenix live order book, 27 min ago | 1.07 bp | 13.6 bp −$14 | 45.8 bp −$458 | 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 | 1.8450 | −0.054% | $6K | $165K | 12x | as long as short |
| Variational Omni RENDER | −0.0355% | 4h | 1.8443 | −0.090% | $222K | $296K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8467 | +0.035% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8468 | +0.043% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8469 | +0.046% | $264K | $181K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8447 | −0.068% | $12.2M | $48.6M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8430 | −0.163% | $12.0M | $14.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8460 | 0.000% | $3.1M | $8.6M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8452 | −0.043% | $537K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8440 | −0.108% | $11.7M | $10.2M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
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 | 1.8440 | −0.108% | $5.0M | $12.9M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8464 | +0.022% | $9.9M | $10.4M | 50x | as long as short |
| BingX RENDER-USDTlong | +0.0100% | 4h | 1.8460 | long leg | — | $4.4M | — | |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8403 | −0.309% | $43K | $268K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8450 | −0.054% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8444 | −0.085% | $31K | $178K | 10x | as long as short |
| Phoenix RENDERshort | +0.0173% | 1h | 1.8377 | −0.450% | $40K | $325K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8440 | −0.108% | $595K | $1.4M | 90x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0352% | 1h | 1.8670 | +1.138% | $154K | $69K | 50x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0361% / S −0.0904% | 1h | 1.8462 | +0.013% | $15K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0578% | 1h | 1.8493 | +0.177% | $470K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.0858% | 1h | 1.8477 | +0.092% | $4.2M | $3.6M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
BloFin RENDER-USDT
Coinbase International RENDER-PERP-INTX
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER