Funding you earn now, next payment 08:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%
Price spread now: Phemex against BloFin+0.055%59s7-day average −0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$142as 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−$830.827% of the position
Funding, last 7 days−0.589%−$59 on $10k
+Price spread, last 4 days (all we have)−0.094%−$9 · spread now +0.055%, 7d avg −0.044%
=The price spread pays, funding is against you. Phemex is 0.099% dearer against BloFin than usual: you sell high and buy low (spread +0.055% now, against its 7-day average of −0.044%): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 33 hours. The two prices were read 59 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 | 1.8050 | 0.0340 | pay 0.0170% / 4h | 1h 31m | $605K | $1.2M | 90x |
| Short | Phemex RENDERUSDT | 1.8060 | 0.0100 | get 0.0100% / 8h | 1h 31m | $1.8M | $4.0M | 50x |
BloFin RENDER-USDT
Phemex RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BloFin. 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
- −$50.4
- Price spread: +0.055% → −0.044%
- $9.91
- Slippage, 4 orders
- −$58.72
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$123.21
- Costs to cover
- 0.827%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 1 min ago; Phemex: live order book, 2 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 BloFin live order book, 1 min ago | 5.54 bp | 16.5 bp −$17 | 23.8 bp −$238 | 87.5 bp −$8,747 | doesn't fit |
| Sell Phemex live order book, 2 min ago | 2.77 bp | 20.9 bp −$21 | 88.5 bp −$885 | 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 | −0.0354% | 1h | 1.8070 | +0.111% | $11K | $194K | 12x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8049 | −0.006% | $18K | $37K | 25x | as long as short |
| dYdX RENDER-USD | +0.0031% | 1h | 1.8037 | −0.072% | $18K | $22K | 5x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8050 | 0.000% | $11.7M | $47.3M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8040 | −0.055% | $11.8M | $13.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8060 | +0.055% | $3.1M | $8.3M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8034 | −0.089% | $518K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8040 | −0.055% | $11.3M | $11.6M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8060 | +0.055% | $4.8M | $10.6M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8055 | +0.028% | $9.8M | $10.8M | 50x | as long as short |
Injective RENDER/USDC PERP
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTM
Bitget RENDERUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX RENDER-USDT | +0.0100% | 4h | 1.8050 | 0.000% | — | $5.2M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8012 | −0.211% | $255K | $314K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8047 | −0.017% | $40K | $251K | 50x | as long as short |
| Phemex RENDERUSDTshort | +0.0100% | 8h | 1.8060 | +0.055% | $1.8M | $4.0M | 50x | |
| Extended RENDER-USD | +0.0104% | 1h | 1.8046 | −0.024% | $26K | $167K | 10x | as long as short |
| Aster RENDERUSDT | +0.0118% | 4h | 1.8082 | +0.178% | $277K | $177K | 20x | as long as short |
| Hyperliquid RENDER | +0.0291% | 1h | 1.8069 | +0.104% | $4.1M | $3.4M | 5x | as long as short |
| Phoenix RENDER | +0.0309% | 1h | 1.8050 | 0.000% | $46K | $348K | 5x | as long as short |
| BloFin RENDER-USDTlong | +0.0340% | 4h | 1.8050 | long leg | $605K | $1.2M | 90x | |
| GMX RENDER/USD [ETH-USDC] | L +0.0361% / S −0.0906% | 1h | 1.8042 | −0.043% | $15K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0560% | 1h | 1.8160 | +0.609% | $150K | $61K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1212% | 1h | 1.8070 | +0.109% | $459K | $1.4M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Extended RENDER-USD
Aster RENDERUSDT
Hyperliquid RENDER
Phoenix RENDER
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD