Funding you earn now, next payment 21:00 UTC+0.0429%/8h= +47.0% APRpaid last 24h +0.047%
Price spread now: Phoenix against Variational Omni+0.365%7-day average +0.173% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.120%+$12 on $10k
+Price spread, last 3 days (all we have)−0.116%−$12 · spread now +0.365%, 7d avg +0.173%
=Together, before fees+0.004%+ Points / potential airdropVariational Omni: Active · farm board$0 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Phoenix is 0.192% dearer against Variational Omni than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.173%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.120% in total (about 13.6% 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 | Variational Omni RENDER | 1.8615 | −0.0257 | get 0.0128% / 4h | 2h 37m | $225K | $258K | — |
| Short | Phoenix RENDER | 1.8683 | 0.0173 | get 0.0022% / 1h | 37m 33s | $40K | $336K | 5x |
Variational Omni RENDER
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Variational Omni. 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
- $90.12
- Price spread: +0.365% → +0.173%
- $19.19
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $102.31
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 51 min ago; Phoenix: live order book, 48 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 Variational Omni RFQ quote, 51 min ago | 5.45 bp | doesn't fit | 40.8 bp −$408 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 48 min ago | 1.09 bp | 13.4 bp −$13 | 45.6 bp −$456 | 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 | 1.8640 | +0.134% | $6K | $141K | 12x | as long as short |
| Variational Omni RENDERlong | −0.0257% | 4h | 1.8615 | long leg | $225K | $258K | — | |
| Bybit RENDERUSDT | −0.0105% | 4h | 1.8670 | +0.295% | $12.2M | $14.6M | 50x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | −0.0071% | 1h | 1.8681 | +0.354% | $11K | $30K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8699 | +0.453% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8697 | +0.442% | $272K | $189K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8688 | +0.394% | $12.5M | $49.0M | 75x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8690 | +0.402% | $3.2M | $8.8M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8680 | +0.349% | $547K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8690 | +0.402% | $12.0M | $10.2M | 200x | as long as short |
Injective RENDER/USDC PERP
Bybit RENDERUSDT
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
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 | 1.8690 | +0.402% | $5.2M | $13.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8686 | +0.381% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8690 | +0.402% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8646 | +0.166% | $44K | $265K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8670 | +0.295% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8692 | +0.410% | $31K | $178K | 10x | as long as short |
| Phoenix RENDERshort | +0.0173% | 1h | 1.8683 | +0.365% | $40K | $336K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8650 | +0.188% | $601K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0341% / S −0.0785% | 1h | 1.8680 | +0.350% | $14K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8640 | +0.134% | $154K | $68K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0744% | 1h | 1.8701 | +0.463% | $489K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.0910% | 1h | 1.8713 | +0.526% | $4.3M | $4.3M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER