Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0685%/8h= +75.0% APRpaid last 24h +0.111%

Price spread now: GMX against Binance+0.020%7-day average — · you sell dearer than you buy

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

Long on Binance 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—needs both histories

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and GMX is 0.020% dearer against Binance than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance RENDERUSDT	1.8711	0.0100	pay 0.0050% / 4h	2h 33m	$12.5M	$49.0M	75x
Short	GMX RENDER/USD [ETH-USDC]	1.8715	L +0.0341% / S −0.0785%	get 0.0098% / 1h	33m 54s	$14K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now +0.020%Rate

Funding earned: $143.8
Price spread: +0.020% → 0.000%: $2.02
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $123.83
Costs to cover: 0.220%
Break-even: 1.0 days

Slippage unknown: Binance: live order book, 8 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 Binance live order book, 8 min ago	2.69 bp	11.9 bp −$12	29.5 bp −$295	187.5 bp −$18.8K	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	−0.0440%	1h	1.8690	−0.114%	$6K	$141K	12x	as long as short
Variational Omni RENDER	−0.0249%	4h	1.8649	−0.332%	$231K	$263K	—	as long as short
Bybit RENDERUSDT	−0.0094%	4h	1.8680	−0.168%	$12.2M	$14.6M	50x	as long as short
Deribit RENDER_USDC-PERPETUAL	−0.0070%	1h	1.8716	+0.025%	$11K	$30K	25x	as long as short
dYdX RENDER-USD	0.0000%	1h	1.8699	−0.064%	$19K	$21K	5x	as long as short
Aster RENDERUSDT	+0.0100%	4h	1.8710	−0.009%	$272K	$195K	20x	as long as short
Binance RENDERUSDTlong	+0.0100%	4h	1.8711	long leg	$12.5M	$49.0M	75x
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8720	+0.046%	$3.2M	$8.8M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8700	−0.061%	$547K	$1.1M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8710	−0.008%	$12.0M	$10.2M	200x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin RENDERUSDTM	+0.0100%	4h	1.8700	−0.061%	$5.2M	$13.0M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8713	+0.009%	$10.0M	$10.3M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8700	−0.061%	—	$4.3M	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8687	−0.130%	$45K	$265K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8700	−0.061%	$1.9M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8710	−0.006%	$31K	$178K	10x	as long as short
Phoenix RENDER	+0.0173%	1h	1.8683	−0.152%	$40K	$336K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8680	−0.168%	$601K	$1.4M	90x	as long as short
GMX RENDER/USD [ETH-USDC]short	L +0.0341% / S −0.0785%	1h	1.8715	+0.020%	$14K	—	100x
Coinbase International RENDER-PERP-INTX	+0.0520%	1h	1.8640	−0.382%	$154K	$68K	50x	as long as short
Kraken Futures PF_RENDERUSD	+0.0742%	1h	1.8743	+0.171%	$490K	$1.1M	50x	as long as short
Hyperliquid RENDER	+0.0846%	1h	1.8736	+0.131%	$4.3M	$4.3M	5x	as long as short