Funding arb · Price arb /

RENDER

all RENDER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.056%

Price spread now: BingX against Deribit+0.033%7-day average −0.016% · you sell dearer than you buy

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

Long on Deribit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.427%+$43 on $10k

Price spread, last 3 days (all we have)+0.398%+$40 · spread now +0.033%, 7d avg −0.016%

Together, before fees+0.825%+$83 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BingX is 0.048% dearer against Deribit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit RENDER_USDC-PERPETUAL	1.8434	0	get 0.0000% / 1h	38m 35s	$11K	$30K	25x
Short	BingX RENDER-USDT	1.8440	0.0100	get 0.0050% / 4h	1h 38m	—	$4.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Deribit. 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 DeribitbpFee BingXbpOrdersPrice spread, now +0.033%Rate

Funding earned: $21
Price spread: +0.033% → −0.016%: $4.81
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: $8.81
Costs to cover: 0.170%
Break-even: 4.1 days

Slippage unknown: Deribit: no order-book sample; BingX: live order book, 12 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell BingX live order book, 12 min ago	2.73 bp	16.4 bp −$16	25.2 bp −$252	65.8 bp −$6,584	954.5 bp −$477.2K

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	1.8450	+0.087%	$6K	$187K	12x	as long as short
Variational Omni RENDER	−0.0291%	4h	1.8433	−0.006%	$222K	$296K	—	as long as short
dYdX RENDER-USD	0.0000%	1h	1.8438	+0.020%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUALlong	0.0000%	1h	1.8434	long leg	$11K	$30K	25x
Aster RENDERUSDT	+0.0100%	4h	1.8466	+0.172%	$264K	$177K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8445	+0.057%	$12.2M	$48.2M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8426	−0.043%	$12.0M	$14.0M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8450	+0.087%	$3.1M	$8.5M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8443	+0.049%	$537K	$1.1M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8440	+0.033%	$12.0M	$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	1.8430	−0.022%	$5.0M	$12.8M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8446	+0.065%	$9.9M	$10.3M	50x	as long as short
BingX RENDER-USDTshort	+0.0100%	4h	1.8440	+0.033%	—	$4.3M	—
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8458	+0.130%	$43K	$268K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8440	+0.033%	$1.8M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8437	+0.017%	$31K	$178K	10x	as long as short
Phoenix RENDER	+0.0131%	1h	1.8459	+0.136%	$40K	$325K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8440	+0.033%	$593K	$1.3M	90x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0352%	1h	1.8670	+1.280%	$154K	$67K	50x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0361% / S −0.0904%	1h	1.8443	+0.048%	$15K	—	100x	as long as short
Kraken Futures PF_RENDERUSD	+0.0579%	1h	1.8470	+0.194%	$471K	$1.1M	50x	as long as short
Hyperliquid RENDER	+0.0695%	1h	1.8477	+0.233%	$4.2M	$3.6M	5x	as long as short