Funding you earn now, next payment 22:00 UTC−0.0652%/8h= −71.4% APRpaid last 24h −0.093%
Price spread now: Phemex against Kraken Futures−0.133%7-day average −0.097% · you buy dearer than you sell
Net, funding: paid 7d − costs−$151as in the Funding arb table
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$840.837% of the position
Funding, last 7 days−0.671%−$67 on $10k
+Price spread, last 3 days (all we have)+0.068%+$7 · spread now −0.133%, 7d avg −0.097%
=Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Phemex is 0.037% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.097%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_RENDERUSD | 1.8485 | 0.0752 | pay 0.0094% / 1h | 5m 43s | $478K | $1.1M | 50x |
| Short | Phemex RENDERUSDT | 1.8460 | 0.0100 | get 0.0100% / 8h | 2h 05m | $1.8M | $4.0M | 50x |
Kraken Futures PF_RENDERUSD
Phemex RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Kraken Futures. 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
- −$136.97
- Price spread: −0.133% → −0.097%
- −$3.65
- Slippage, 4 orders
- −$61.73
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$224.35
- Costs to cover
- 0.837%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; Phemex: live order book, 3 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 Kraken Futures live order book, 3 min ago | 8.34 bp | 19.2 bp −$19 | 52.6 bp −$526 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 2.70 bp | 30.1 bp −$30 | 92.2 bp −$922 | 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 PERP | −0.0440% | 1h | 1.8510 | +0.137% | $6K | $165K | 12x | as long as short |
| Variational Omni RENDER | −0.0354% | 4h | 1.8505 | +0.108% | $221K | $294K | — | as long as short |
| Deribit RENDER_USDC-PERPETUAL | −0.0129% | 1h | 1.8461 | −0.128% | $11K | $30K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8449 | −0.193% | $19K | $21K | 5x | as long as short |
| Bybit RENDERUSDT | +0.0022% | 4h | 1.8416 | −0.371% | $12.0M | $14.4M | 50x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8460 | −0.133% | $264K | $186K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8458 | −0.146% | $12.3M | $48.6M | 75x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8460 | −0.133% | $3.1M | $8.6M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8452 | −0.177% | $539K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8450 | −0.188% | $11.6M | $10.4M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Bybit RENDERUSDT
Aster RENDERUSDT
Binance RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8440 | −0.242% | $5.0M | $12.9M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8452 | −0.177% | $9.9M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8450 | −0.188% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8535 | +0.272% | $43K | $267K | 50x | as long as short |
| Phemex RENDERUSDTshort | +0.0100% | 8h | 1.8460 | −0.133% | $1.8M | $4.0M | 50x | |
| Extended RENDER-USD | +0.0104% | 1h | 1.8448 | −0.200% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8549 | +0.348% | $40K | $336K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8520 | +0.191% | $602K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0362% / S −0.0904% | 1h | 1.8462 | −0.121% | $15K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8670 | +1.003% | $154K | $69K | 50x | as long as short |
| Kraken Futures PF_RENDERUSDlong | +0.0752% | 1h | 1.8485 | long leg | $478K | $1.1M | 50x | |
| Hyperliquid RENDER | +0.0802% | 1h | 1.8479 | −0.031% | $4.2M | $3.7M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Hyperliquid RENDER