RENDER

Alert

Funding spread now, next payment 20:00 UTC−0.0194%/8h

paid, last 24h−0.068%paid, last 3 days+0.010%to open and closeno order book

Long on Phemex Short on Variational Omni

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.010% in total (about 1.2% a year). A funding rate is set anew for every payment. 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	Phemex RENDERUSDT	1.7780	0.0100	pay 0.0100% / 8h	5h 56m	$1.8M	$4.1M	50x
Short	Variational Omni RENDER	1.7717	−0.0094	pay 0.0047% / 4h	1h 56m	$212K	$245K	—

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee Variational OmnibpOrdersRate

Funding earned: −$40.71
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$52.71
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; Variational Omni: RFQ quote, 44 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.356%
Avg gap 7d: −0.091%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 4 min ago	2.82 bp	21.5 bp −$21	88.6 bp −$886	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 44 min ago	8.34 bp	doesn't fit	29.1 bp −$291	doesn't fit	doesn't fit

RENDER on 22 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Kraken Futures PF_RENDERUSD	−0.0279%	1h	$453K	$1.1M	50x	as long as short
Gate RENDER_USDT	−0.0200%	4h	$525K	$1.1M	50x	as long as short
Injective RENDER/USDC PERP	−0.0124%	1h	$5K	$49K	12x	as long as short
Variational Omni RENDERshort	−0.0094%	4h	$212K	$245K	—
dYdX RENDER-USD	0.0000%	1h	$18K	$22K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	$10K	$127K	25x	as long as short
Phoenix RENDER	+0.0090%	1h	$38K	$333K	5x	as long as short
Hyperliquid RENDER	+0.0100%	1h	$3.8M	$4.2M	5x	as long as short
Aster RENDERUSDT	+0.0100%	4h	$257K	$177K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	$11.6M	$49.2M	75x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bybit RENDERUSDT	+0.0100%	4h	$11.6M	$14.8M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	$3.0M	$8.6M	20x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	$10.6M	$9.9M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	$4.5M	$12.7M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	$9.5M	$10.7M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	—	$4.1M	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	$45K	$258K	50x	as long as short
Phemex RENDERUSDTlong	+0.0100%	8h	$1.8M	$4.1M	50x
Extended RENDER-USD	+0.0104%	1h	$30K	$179K	10x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0334% / S −0.0778%	1h	$13K	—	100x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	$578K	$1.3M	90x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0456%	1h	$153K	$54K	50x	as long as short