Funding you earn now, next payment 07:00 UTC+0.0397%/8h= +43.4% APRnext payment +$0.50 per $10,000 · paid last 24h +0.188%
Price spread now: Phoenix against Injective+0.083%7-day average +0.192% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.167%+$17 on $10k
+Price spread, last 4 days (all we have)−0.084%−$8 · spread now +0.083%, 7d avg +0.192%
=Funding pays, the price is against you. Phoenix is 0.109% cheaper against Injective than usual: you would sell low and buy high (spread +0.083% now, against its 7-day average of +0.192%). If the spread goes back, that is −$11 on $10k: about 22 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.167% in total) that is about 4.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.167% in total (about 8.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.50 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 | Injective RENDER/USDC PERP | 1.8060 | −0.0131 | get 0.0016% / 1h | 42m 53s | $11K | $194K | 12x |
| Short | Phoenix RENDER | 1.8075 | 0.0266 | get 0.0033% / 1h | 42m 53s | $46K | $339K | 5x |
Injective RENDER/USDC PERP
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $83.32
- Price spread: +0.083% → +0.192%
- −$10.87
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $65.43
- Costs to cover
- 0.070%
- Break-even
- 1.5 days
Slippage unknown: Injective: live order book, 11 min ago; Phoenix: live order book, 59 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, 11 min ago | 66.15 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 59 min ago | 1.11 bp | 13.5 bp −$13 | 45.5 bp −$455 | 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 PERPlong | −0.0131% | 1h | 1.8060 | long leg | $11K | $194K | 12x | |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8066 | +0.033% | $18K | $37K | 25x | as long as short |
| dYdX RENDER-USD | +0.0013% | 1h | 1.8066 | +0.035% | $18K | $22K | 5x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8050 | −0.055% | $11.7M | $46.2M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8043 | −0.094% | $11.8M | $12.7M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8070 | +0.055% | $3.1M | $8.2M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8053 | −0.039% | $516K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8060 | 0.000% | $11.0M | $11.7M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8070 | +0.055% | $4.8M | $10.2M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8055 | −0.028% | $9.8M | $10.7M | 50x | as long as short |
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 | 1.8060 | 0.000% | — | $5.1M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8071 | +0.064% | $256K | $314K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8064 | +0.022% | $40K | $251K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8060 | 0.000% | $1.8M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8056 | −0.025% | $32K | $222K | 10x | as long as short |
| Aster RENDERUSDT | +0.0162% | 4h | 1.8071 | +0.061% | $277K | $189K | 20x | as long as short |
| Phoenix RENDERshort | +0.0266% | 1h | 1.8075 | +0.083% | $46K | $339K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8090 | +0.166% | $605K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0361% / S −0.0906% | 1h | 1.8065 | +0.029% | $15K | — | 100x | as long as short |
| Hyperliquid RENDER | +0.0425% | 1h | 1.8080 | +0.112% | $4.1M | $3.4M | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0512% | 1h | 1.8060 | 0.000% | $149K | $61K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0734% | 1h | 1.8074 | +0.078% | $423K | $1.4M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Aster RENDERUSDT
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD