Funding arb · Price arb /

RENDER

all RENDER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.159%

Price spread now: dYdX against Bitget+0.026%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.026% dearer against Bitget than usual: you sell high and buy low (spread +0.026% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget RENDERUSDT	1.8482	0.0100	pay 0.0050% / 4h	50m 32s	$10.1M	$10.8M	50x
Short	dYdX RENDER-USD	1.8487	0	get 0.0000% / 1h	50m 32s	$19K	$21K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BitgetbpFee dYdXbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$21
Price spread: +0.026% → 0.000%: $2.63
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$40.37
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 3 min ago; dYdX: no order-book sample. 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 Bitget live order book, 3 min ago	0.54 bp	12.2 bp −$12	21.7 bp −$217	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0223%	1h	1.8640	+0.855%	$6K	$188K	12x	as long as short
dYdX RENDER-USDshort	0.0000%	1h	1.8487	+0.026%	$19K	$21K	5x
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8507	+0.135%	$11K	$30K	25x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8490	+0.043%	$12.3M	$47.0M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8470	−0.065%	$11.8M	$13.2M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8500	+0.097%	$3.1M	$8.2M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8475	−0.038%	$550K	$1.2M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8510	+0.151%	$13.0M	$11.2M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8510	+0.151%	$5.0M	$11.8M	50x	as long as short
Bitget RENDERUSDTlong	+0.0100%	4h	1.8482	long leg	$10.1M	$10.8M	50x

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX RENDER-USDT	+0.0100%	4h	1.8480	−0.011%	—	$3.6M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8492	+0.053%	$263K	$313K	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8596	+0.617%	$41K	$253K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8510	+0.151%	$1.9M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8493	+0.058%	$26K	$200K	10x	as long as short
Phoenix RENDER	+0.0299%	1h	1.8680	+1.071%	$48K	$315K	5x	as long as short
Aster RENDERUSDT	+0.0327%	4h	1.8532	+0.269%	$268K	$147K	20x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8550	+0.368%	$586K	$1.1M	90x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0366% / S −0.0912%	1h	1.8504	+0.121%	$15K	—	100x	as long as short
Hyperliquid RENDER	+0.0590%	1h	1.8554	+0.390%	$4.2M	$3.2M	5x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0720%	1h	1.8900	+2.262%	$155K	$57K	50x	as long as short
Kraken Futures PF_RENDERUSD	+0.1269%	1h	1.8533	+0.275%	$481K	$1.1M	50x	as long as short