Funding you earn now, next payment 22:00 UTC+0.0652%/8h= +71.4% APRpaid last 24h +0.093%
Price spread now: Kraken Futures against Phemex+0.134%7-day average +0.097% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$80as 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)−0.069%−$7 · spread now +0.134%, 7d avg +0.097%
=Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Kraken Futures is 0.037% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.097%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex RENDERUSDT | 1.8460 | 0.0100 | pay 0.0100% / 8h | 2h 06m | $1.8M | $4.0M | 50x |
| Short | Kraken Futures PF_RENDERUSD | 1.8485 | 0.0752 | get 0.0094% / 1h | 6m 17s | $478K | $1.1M | 50x |
Phemex RENDERUSDT
Kraken Futures PF_RENDERUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Phemex. 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: +0.134% → +0.097%
- $3.67
- Slippage, 4 orders
- −$61.73
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $56.91
- Costs to cover
- 0.837%
- Break-even
- 4.1 days
Slippage from Phemex: live order book, 2 min ago; Kraken Futures: live order book, 2 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 Phemex live order book, 2 min ago | 2.70 bp | 20.1 bp −$20 | 86.3 bp −$863 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 8.34 bp | 14.4 bp −$14 | 39.9 bp −$399 | 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 | +0.271% | $6K | $165K | 12x | as long as short |
| Variational Omni RENDER | −0.0354% | 4h | 1.8505 | +0.241% | $221K | $294K | — | as long as short |
| Deribit RENDER_USDC-PERPETUAL | −0.0129% | 1h | 1.8461 | +0.005% | $11K | $30K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8483 | +0.125% | $19K | $21K | 5x | as long as short |
| Bybit RENDERUSDT | +0.0014% | 4h | 1.8422 | −0.206% | $12.0M | $14.4M | 50x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8482 | +0.117% | $264K | $186K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8460 | 0.000% | $12.3M | $48.7M | 75x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8450 | −0.054% | $3.1M | $8.6M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8457 | −0.016% | $540K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8460 | 0.000% | $11.9M | $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 | 1.8450 | −0.054% | $5.0M | $12.9M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8473 | +0.070% | $9.9M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8460 | 0.000% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8535 | +0.406% | $43K | $267K | 50x | as long as short |
| Phemex RENDERUSDTlong | +0.0100% | 8h | 1.8460 | long leg | $1.8M | $4.0M | 50x | |
| Extended RENDER-USD | +0.0104% | 1h | 1.8464 | +0.024% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8549 | +0.482% | $40K | $336K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8520 | +0.325% | $602K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0362% / S −0.0904% | 1h | 1.8462 | +0.012% | $15K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8670 | +1.138% | $154K | $69K | 50x | as long as short |
| Kraken Futures PF_RENDERUSDshort | +0.0752% | 1h | 1.8485 | +0.134% | $478K | $1.1M | 50x | |
| Hyperliquid RENDER | +0.0806% | 1h | 1.8497 | +0.200% | $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