Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against OKX0.000%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$820.816% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.188%+$19 on $10k

Price spread, last 7 days+0.110%+$11 · spread now 0.000%, 7d avg +0.050%

Together, before fees+0.297%+$30 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.050% cheaper against OKX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX RENDER-USDT-SWAP	1.8490	0.0100	pay 0.0050% / 4h	1h 58m	$3.1M	$7.9M	20x
Short	KuCoin RENDERUSDTM	1.8490	0.0100	get 0.0050% / 4h	1h 58m	$4.9M	$11.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against OKX. 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 OKXbpFee KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.050%: −$5.04
Slippage, 4 orders: −$59.63
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$86.67
Costs to cover: 0.816%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; KuCoin: live order book, 5 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 OKX live order book, 5 min ago	2.70 bp	15.4 bp −$15	38.1 bp −$381	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	2.70 bp	28.5 bp −$28	62.9 bp −$629	doesn't fit	doesn't fit

RENDER on 21 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
dYdX RENDER-USD	0.0000%	1h	1.8467	−0.125%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8484	−0.032%	$11K	$30K	25x	as long as short
Injective RENDER/USDC PERP	+0.0036%	1h	1.8490	0.000%	$6K	$188K	12x	as long as short
Aster RENDERUSDT	+0.0100%	4h	1.8506	+0.085%	$267K	$139K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8480	−0.054%	$12.2M	$44.8M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8470	−0.108%	$11.8M	$12.6M	50x	as long as short
OKX RENDER-USDT-SWAPlong	+0.0100%	4h	1.8490	long leg	$3.1M	$7.9M	20x
Gate RENDER_USDT	+0.0100%	4h	1.8479	−0.059%	$570K	$1.1M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8470	−0.108%	$11.0M	$10.6M	200x	as long as short
KuCoin RENDERUSDTMshort	+0.0100%	4h	1.8490	0.000%	$4.9M	$11.8M	50x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget RENDERUSDT	+0.0100%	4h	1.8484	−0.032%	$9.9M	$10.3M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8480	−0.054%	—	$3.6M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8462	−0.153%	$227K	$277K	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8492	+0.011%	$46K	$252K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8480	−0.054%	$1.8M	$3.9M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8475	−0.083%	$26K	$198K	10x	as long as short
Phoenix RENDER	+0.0217%	1h	1.8497	+0.038%	$47K	$235K	5x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0365% / S −0.0912%	1h	1.8464	−0.142%	$15K	—	100x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0456%	1h	1.8520	+0.162%	$151K	$52K	50x	as long as short
Hyperliquid RENDER	+0.1004%	1h	1.8507	+0.092%	$4.2M	$3.2M	5x	as long as short
Kraken Futures PF_RENDERUSD	+0.1445%	1h	1.8515	+0.138%	$490K	$1.0M	50x	as long as short