Funding you earn now, next payment 03:00 UTC+0.1317%/8h= +144.3% APRpaid last 24h +0.112%
Price spread now: Kraken Futures against BingX−0.036%7-day average +0.105% · you buy dearer than you sell
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$103as in the Price arb table
costs, in and out, $10k−$890.894% of the position
Funding, last 7 days+0.512%+$51 on $10k
+Price spread, last 4 days (all we have)−0.326%−$33 · spread now −0.036%, 7d avg +0.105%
=Funding pays, the price is against you. Kraken Futures is 0.141% cheaper against BingX than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of +0.105%). If the spread goes back, that is −$14 on $10k: about 9 hours of funding at the current rate (+$40 a day). At the pace of the last 7 days (+0.512% in total) that is about 46 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.512% in total (about 26.7% 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 | BingX RENDER-USDT | 1.8880 | 0.0100 | pay 0.0050% / 4h | 1h 38m | — | $3.5M | — |
| Short | Kraken Futures PF_RENDERUSD | 1.8873 | 0.1417 | get 0.0177% / 1h | 38m 55s | $492K | $1.0M | 50x |
BingX RENDER-USDT
Kraken Futures PF_RENDERUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against BingX. 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
- $276.67
- Price spread: −0.036% → +0.105%
- −$14.1
- Slippage, 4 orders
- −$69.39
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $173.18
- Costs to cover
- 0.894%
- Break-even
- 2.6 days
Slippage from BingX: live order book, 10 min ago; Kraken Futures: live order book, 4 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 BingX live order book, 10 min ago | 5.37 bp | 12.9 bp −$13 | 19.7 bp −$197 | 78.9 bp −$7,893 | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 10.09 bp | 23.9 bp −$24 | 53.0 bp −$530 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX RENDER-USD | 0.0000% | 1h | 1.8866 | −0.073% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8845 | −0.185% | $11K | $30K | 25x | as long as short |
| Injective RENDER/USDC PERP | +0.0036% | 1h | 1.8810 | −0.371% | $6K | $188K | 12x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8891 | +0.057% | $12.5M | $45.0M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8880 | 0.000% | $12.1M | $12.7M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8900 | +0.106% | $3.2M | $8.1M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8885 | +0.026% | $595K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8880 | 0.000% | $11.4M | $10.7M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8890 | +0.053% | $5.2M | $11.8M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8887 | +0.037% | $10.2M | $10.3M | 50x | as long as short |
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Injective RENDER/USDC PERP
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTM
Bitget RENDERUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX RENDER-USDTlong | +0.0100% | 4h | 1.8880 | long leg | — | $3.5M | — | |
| Variational Omni RENDER | +0.0100% | 4h | 1.8796 | −0.443% | $232K | $276K | — | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8840 | −0.212% | $1.9M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8861 | −0.102% | $28K | $203K | 10x | as long as short |
| Aster RENDERUSDT | +0.0112% | 4h | 1.8889 | +0.045% | $273K | $139K | 20x | as long as short |
| Phoenix RENDER | +0.0259% | 1h | 1.8821 | −0.312% | $48K | $246K | 5x | as long as short |
| ApeX Omni RENDERUSDT | +0.0276% | 1h | 1.8799 | −0.429% | $47K | $252K | 50x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8860 | −0.106% | $585K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0369% / S −0.0912% | 1h | 1.8839 | −0.216% | $16K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0456% | 1h | 1.8880 | 0.000% | $153K | $53K | 50x | as long as short |
| Hyperliquid RENDER | +0.0947% | 1h | 1.8886 | +0.030% | $4.3M | $3.2M | 5x | as long as short |
| Kraken Futures PF_RENDERUSDshort | +0.1417% | 1h | 1.8873 | −0.036% | $492K | $1.0M | 50x |
Variational Omni RENDER
Phemex RENDERUSDT
Extended RENDER-USD
Aster RENDERUSDT
Phoenix RENDER
ApeX Omni RENDERUSDT
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Hyperliquid RENDER