Funding you earn now, next payment 04:00 UTC+0.0277%/8h= +30.4% APRnext payment +$0.35 per $10,000 · paid last 24h +0.056%
Price spread now: Phoenix against Deribit+0.667%70s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.123%+$12 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phoenix is 0.667% dearer against Deribit than usual: you sell high and buy low: +$67 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.123% in total (about 6.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.35 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 | Deribit RENDER_USDC-PERPETUAL | 1.8135 | 0.0026 | pay 0.0003% / 1h | 7m 54s | $16K | $35K | 25x |
| Short | Phoenix RENDER | 1.8256 | 0.0303 | get 0.0038% / 1h | 7m 54s | $47K | $326K | 5x |
Deribit RENDER_USDC-PERPETUAL
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Deribit. 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
- $58.24
- Price spread: +0.667% → 0.000%
- $66.72
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $110.96
- Costs to cover
- 0.140%
- Break-even
- from the start
Slippage unknown: Deribit: no order-book sample; Phoenix: live order book, 43 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 Phoenix live order book, 43 min ago | 1.08 bp | 13.3 bp −$13 | 45.7 bp −$457 | doesn't fit | doesn't fit |
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 | −0.0572% | 1h | 1.8240 | +0.579% | $11K | $194K | 12x | as long as short |
| Deribit RENDER_USDC-PERPETUALlong | +0.0026% | 1h | 1.8135 | long leg | $16K | $35K | 25x | |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8153 | +0.101% | $266K | $155K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8143 | +0.047% | $11.8M | $47.1M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8130 | −0.028% | $11.6M | $13.1M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8160 | +0.138% | $3.1M | $8.1M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8136 | +0.006% | $530K | $1.3M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8160 | +0.138% | $12.3M | $11.2M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8150 | +0.083% | $4.8M | $11.1M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8153 | +0.099% | $9.9M | $10.6M | 50x | as long as short |
Injective RENDER/USDC PERP
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 | 1.8140 | +0.028% | — | $3.4M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8222 | +0.478% | $259K | $313K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8264 | +0.711% | $40K | $250K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8140 | +0.028% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8135 | 0.000% | $26K | $197K | 10x | as long as short |
| dYdX RENDER-USD | +0.0174% | 1h | 1.8177 | +0.231% | $18K | $32K | 5x | as long as short |
| Phoenix RENDERshort | +0.0303% | 1h | 1.8256 | +0.667% | $47K | $326K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8220 | +0.469% | $562K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0371% / S −0.0956% | 1h | 1.8123 | −0.067% | $16K | — | 100x | as long as short |
| Hyperliquid RENDER | +0.0568% | 1h | 1.8169 | +0.187% | $4.1M | $3.3M | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0616% | 1h | 1.8150 | +0.083% | $151K | $57K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1056% | 1h | 1.8157 | +0.122% | $490K | $1.2M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
dYdX RENDER-USD
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD