Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h −0.128%

Price spread now: Deribit against BloFin+0.060%57s7-day average −0.014% · you sell dearer than you buy

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

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.808%−$81 on $10k

Price spread, last 3 days (all we have)−0.040%−$4 · spread now +0.060%, 7d avg −0.014%

Together, before fees−0.848%−$85 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.073% dearer against BloFin than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of −0.014%): +$7 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 17 hours. The two prices were read 57 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	BloFin RENDER-USDT	1.8380	0.0340	pay 0.0170% / 4h	1h 32m	$592K	$1.3M	90x
Short	Deribit RENDER_USDC-PERPETUAL	1.8391	0	get 0.0000% / 1h	32m 12s	$10K	$30K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee DeribitbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$71.4
Price spread: +0.060% → −0.014%: $7.34
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$83.06
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 5 min ago; Deribit: 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 BloFin live order book, 5 min ago	8.15 bp	17.4 bp −$17	26.4 bp −$264	84.6 bp −$8,460	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.0576%	1h	1.8380	0.000%	$6K	$187K	12x	as long as short
Variational Omni RENDER	−0.0306%	4h	1.8373	−0.039%	$222K	$296K	—	as long as short
dYdX RENDER-USD	0.0000%	1h	1.8387	+0.039%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUALshort	0.0000%	1h	1.8391	+0.060%	$10K	$30K	25x
Aster RENDERUSDT	+0.0100%	4h	1.8403	+0.124%	$263K	$172K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8400	+0.109%	$12.2M	$48.1M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8380	0.000%	$12.0M	$13.9M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8390	+0.054%	$3.1M	$8.4M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8383	+0.016%	$535K	$1.1M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8390	+0.054%	$11.7M	$10.4M	200x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin RENDERUSDTM	+0.0100%	4h	1.8380	0.000%	$5.0M	$12.8M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8391	+0.060%	$9.8M	$10.3M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8400	+0.109%	—	$4.3M	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8386	+0.033%	$43K	$267K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8400	+0.109%	$1.8M	$3.9M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8386	+0.035%	$31K	$178K	10x	as long as short
Phoenix RENDER	+0.0131%	1h	1.8378	−0.011%	$40K	$325K	5x	as long as short
BloFin RENDER-USDTlong	+0.0340%	4h	1.8380	long leg	$592K	$1.3M	90x
Coinbase International RENDER-PERP-INTX	+0.0352%	1h	1.8670	+1.578%	$154K	$67K	50x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0360% / S −0.0904%	1h	1.8393	+0.070%	$15K	—	100x	as long as short
Kraken Futures PF_RENDERUSD	+0.0581%	1h	1.8420	+0.215%	$465K	$1.1M	50x	as long as short
Hyperliquid RENDER	+0.0655%	1h	1.8422	+0.229%	$4.2M	$3.6M	5x	as long as short