Funding you earn now, next payment 21:00 UTC+0.0073%/8h= +7.9% APRpaid last 24h −0.006%
Price spread now: Phoenix against Binance−0.029%7-day average +0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$59as in the Price arb table
costs, in and out, $10k−$510.511% of the position
Funding, last 7 days−0.238%−$24 on $10k
+Price spread, last 3 days (all we have)+0.432%+$43 · spread now −0.029%, 7d avg +0.051%
=Funding pays, the price is against you. Phoenix is 0.080% cheaper against Binance than usual: you would sell low and buy high (spread −0.029% now, against its 7-day average of +0.051%). If the spread goes back, that is −$8 on $10k: about 3.7 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.238%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance RENDERUSDT | 1.8688 | 0.0100 | pay 0.0050% / 4h | 2h 37m | $12.5M | $49.0M | 75x |
| Short | Phoenix RENDER | 1.8683 | 0.0173 | get 0.0022% / 1h | 37m 26s | $40K | $336K | 5x |
Binance RENDERUSDT
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Binance. 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
- $15.23
- Price spread: −0.029% → +0.051%
- −$8
- Slippage, 4 orders
- −$34.08
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$43.85
- Costs to cover
- 0.511%
- Break-even
- 27.2 days
Slippage from Binance: live order book, 5 min ago; Phoenix: live order book, 48 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 Binance live order book, 5 min ago | 2.69 bp | 11.9 bp −$12 | 29.5 bp −$295 | 187.5 bp −$18.8K | 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 | −0.259% | $6K | $141K | 12x | as long as short |
| Variational Omni RENDER | −0.0257% | 4h | 1.8615 | −0.393% | $225K | $258K | — | as long as short |
| Bybit RENDERUSDT | −0.0105% | 4h | 1.8670 | −0.099% | $12.2M | $14.6M | 50x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | −0.0071% | 1h | 1.8681 | −0.040% | $11K | $30K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8699 | +0.059% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8697 | +0.048% | $272K | $189K | 20x | as long as short |
| Binance RENDERUSDTlong | +0.0100% | 4h | 1.8688 | long leg | $12.5M | $49.0M | 75x | |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8690 | +0.008% | $3.2M | $8.8M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8680 | −0.045% | $547K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8690 | +0.008% | $12.0M | $10.2M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
Bybit RENDERUSDT
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Aster 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 | +0.008% | $5.2M | $13.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8686 | −0.013% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8690 | +0.008% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8646 | −0.227% | $44K | $265K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8670 | −0.099% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8692 | +0.016% | $31K | $178K | 10x | as long as short |
| Phoenix RENDERshort | +0.0173% | 1h | 1.8683 | −0.029% | $40K | $336K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8650 | −0.206% | $601K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0341% / S −0.0785% | 1h | 1.8680 | −0.044% | $14K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8640 | −0.259% | $154K | $68K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0744% | 1h | 1.8701 | +0.068% | $489K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.0910% | 1h | 1.8713 | +0.131% | $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