Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0659%/8h= +72.2% APRpaid last 24h +0.159%

Price spread now: GMX against Aster−0.277%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. GMX is 0.277% cheaper against Aster than usual: you would sell low and buy high (spread −0.277% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$28 on $10k: about 34 hours of funding at the current rate (+$20 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster RENDERUSDT	1.8370	0.0247	pay 0.0124% / 4h	29m 49s	$266K	$151K	20x
Short	GMX RENDER/USD [ETH-USDC]	1.8319	L +0.0363% / S −0.0907%	get 0.0113% / 1h	29m 49s	$15K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.277%Rate

Funding earned: $138.47
Price spread: −0.277% → 0.000%: −$27.71
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $90.76
Costs to cover: 0.200%
Break-even: 2.4 days

Slippage unknown: Aster: live order book, 27 min ago; GMX: no order-book sample. 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 Aster live order book, 27 min ago	10.66 bp	44.2 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0223%	1h	1.8200	−0.924%	$6K	$188K	12x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8324	−0.249%	$10K	$30K	25x	as long as short
dYdX RENDER-USD	+0.0081%	1h	1.8319	−0.276%	$19K	$23K	5x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8370	+0.002%	$12.2M	$47.4M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8360	−0.053%	$11.8M	$13.3M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8380	+0.056%	$3.1M	$8.1M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8361	−0.048%	$549K	$1.2M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8360	−0.053%	$12.6M	$11.3M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8390	+0.110%	$4.9M	$11.7M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8379	+0.050%	$10.0M	$10.9M	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX RENDER-USDT	+0.0100%	4h	1.8360	−0.053%	—	$3.6M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8292	−0.424%	$261K	$313K	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8345	−0.135%	$41K	$252K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8320	−0.271%	$1.8M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8373	+0.018%	$26K	$200K	10x	as long as short
Aster RENDERUSDTlong	+0.0247%	4h	1.8370	long leg	$266K	$151K	20x
Phoenix RENDER	+0.0299%	1h	1.8343	−0.146%	$47K	$315K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8330	−0.216%	$581K	$1.1M	90x	as long as short
GMX RENDER/USD [ETH-USDC]short	L +0.0363% / S −0.0907%	1h	1.8319	−0.277%	$15K	—	100x
Hyperliquid RENDER	+0.0501%	1h	1.8398	+0.154%	$4.1M	$3.3M	5x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0720%	1h	1.8450	+0.437%	$151K	$55K	50x	as long as short
Kraken Futures PF_RENDERUSD	+0.1282%	1h	1.8344	−0.140%	$477K	$1.1M	50x	as long as short