Funding you earn now, next payment 05:00 UTC+0.0653%/8h= +71.5% APRnext payment +$0.82 per $10,000 · paid last 24h +0.070%
Price spread now: Kraken Futures against Coinbase International+0.023%7-day average −0.213% · you sell dearer than you buy
Net, funding: paid 7d − costs−$151as in the Funding arb table
Net, price: spread back to 7d avg − costs−$136as in the Price arb table
costs, in and out, $10k−$1601.598% of the position
Funding, last 7 days+0.087%+$9 on $10k
+Price spread, last 4 days (all we have)−0.401%−$40 · spread now +0.023%, 7d avg −0.213%
=Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Kraken Futures is 0.236% dearer against Coinbase International than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of −0.213%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.087% in total (about 4.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.82 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 | Coinbase International RENDER-PERP-INTX | 1.8130 | 0.0584 | pay 0.0073% / 1h | 14m 06s | $150K | $61K | 50x |
| Short | Kraken Futures PF_RENDERUSD | 1.8134 | 0.1237 | get 0.0155% / 1h | 14m 06s | $423K | $1.3M | 50x |
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Coinbase International. 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
- $137.03
- Price spread: +0.023% → −0.213%
- $23.61
- Slippage, 4 orders
- −$139.78
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $0.86
- Costs to cover
- 1.598%
- Break-even
- 7.0 days
Slippage from Coinbase International: live order book, 34 min ago; Kraken Futures: live order book, 4 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 Coinbase International live order book, 34 min ago | 22.05 bp | 62.3 bp −$62 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 11.90 bp | 19.1 bp −$19 | 44.2 bp −$442 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX RENDER-USD | +0.0011% | 1h | 1.8106 | −0.130% | $18K | $22K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | +0.0081% | 1h | 1.8119 | −0.061% | $18K | $37K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8112 | −0.099% | $277K | $177K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8119 | −0.063% | $11.8M | $47.8M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8110 | −0.110% | $11.8M | $13.4M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8130 | 0.000% | $3.1M | $8.3M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8106 | −0.132% | $520K | $1.3M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8110 | −0.110% | $10.8M | $11.3M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8130 | 0.000% | $4.8M | $10.9M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8129 | −0.006% | $9.8M | $10.8M | 50x | as long as short |
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
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 | 1.8110 | −0.110% | — | $5.2M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8032 | −0.540% | $256K | $314K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8063 | −0.370% | $40K | $250K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8110 | −0.110% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8115 | −0.084% | $26K | $191K | 10x | as long as short |
| Injective RENDER/USDC PERP | +0.0235% | 1h | 1.8030 | −0.552% | $11K | $194K | 12x | as long as short |
| Phoenix RENDER | +0.0264% | 1h | 1.8067 | −0.347% | $46K | $334K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8050 | −0.441% | $600K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0361% / S −0.0906% | 1h | 1.8109 | −0.116% | $15K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTXlong | +0.0584% | 1h | 1.8130 | long leg | $150K | $61K | 50x | |
| Hyperliquid RENDER | +0.0627% | 1h | 1.8146 | +0.088% | $4.1M | $3.3M | 5x | as long as short |
| Kraken Futures PF_RENDERUSDshort | +0.1237% | 1h | 1.8134 | +0.023% | $423K | $1.3M | 50x |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Injective RENDER/USDC PERP
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER