Funding you earn now, next payment 06:00 UTC−0.0135%/8h= −14.7% APRpaid last 24h +0.192%
Price spread now: Phemex against Injective+0.055%65s7-day average +0.130% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.251%+$25 on $10k
+Price spread, last 4 days (all we have)−0.380%−$38 · spread now +0.055%, 7d avg +0.130%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phemex is 0.074% cheaper against Injective than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.130%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.251%, so the current rate has only just turned against you. The two prices were read 65 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 | Injective RENDER/USDC PERP | 1.8030 | 0.0235 | pay 0.0029% / 1h | 16m 23s | $11K | $194K | 12x |
| Short | Phemex RENDERUSDT | 1.8040 | 0.0100 | get 0.0100% / 8h | 2h 16m | $1.8M | $4.0M | 50x |
Injective RENDER/USDC PERP
Phemex RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Injective. 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
- −$28.25
- Price spread: +0.055% → +0.130%
- −$7.41
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$47.68
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Injective: live order book, 48 min ago; Phemex: live order book, 2 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 Injective live order book, 48 min ago | 46.56 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 5.54 bp | 30.0 bp −$30 | 89.0 bp −$890 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8042 | +0.067% | $18K | $37K | 25x | as long as short |
| dYdX RENDER-USD | +0.0012% | 1h | 1.8027 | −0.017% | $18K | $22K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8050 | +0.111% | $276K | $177K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8050 | +0.111% | $11.7M | $47.7M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8033 | +0.017% | $11.8M | $13.4M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8060 | +0.166% | $3.1M | $8.3M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8042 | +0.067% | $518K | $1.3M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8040 | +0.055% | $10.7M | $11.3M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8050 | +0.111% | $4.8M | $10.9M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8058 | +0.155% | $9.8M | $10.8M | 50x | as long as short |
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
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 | 1.8050 | +0.111% | — | $5.2M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.7992 | −0.212% | $255K | $314K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8075 | +0.250% | $40K | $250K | 50x | as long as short |
| Phemex RENDERUSDTshort | +0.0100% | 8h | 1.8040 | +0.055% | $1.8M | $4.0M | 50x | |
| Extended RENDER-USD | +0.0104% | 1h | 1.8041 | +0.059% | $26K | $191K | 10x | as long as short |
| Injective RENDER/USDC PERPlong | +0.0235% | 1h | 1.8030 | long leg | $11K | $194K | 12x | |
| Phoenix RENDER | +0.0264% | 1h | 1.8067 | +0.205% | $46K | $334K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8060 | +0.166% | $600K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0360% / S −0.0906% | 1h | 1.8037 | +0.039% | $15K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0584% | 1h | 1.8100 | +0.388% | $150K | $60K | 50x | as long as short |
| Hyperliquid RENDER | +0.0619% | 1h | 1.8073 | +0.238% | $4.0M | $3.3M | 5x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1241% | 1h | 1.8063 | +0.184% | $422K | $1.3M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Hyperliquid RENDER
Kraken Futures PF_RENDERUSD