Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h −0.056%

Price spread now: dYdX against BloFin+0.194%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 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

The price spread pays, funding is against you. dYdX is 0.194% dearer against BloFin than usual: you sell high and buy low (spread +0.194% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin RENDER-USDT	1.8020	0.0340	pay 0.0170% / 4h	3h 50m	$603K	$1.2M	90x
Short	dYdX RENDER-USD	1.8055	0	get 0.0000% / 1h	50m 31s	$18K	$22K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BloFin. 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 BloFinbpFee dYdXbpOrdersPrice spread, now +0.194%Rate

Funding earned: −$71.4
Price spread: +0.194% → 0.000%: $19.38
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$74.02
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 2 min ago; dYdX: 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 BloFin live order book, 2 min ago	8.31 bp	14.3 bp −$14	25.4 bp −$254	98.3 bp −$9,825	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.0013%	1h	1.8040	+0.111%	$11K	$194K	12x	as long as short
dYdX RENDER-USDshort	0.0000%	1h	1.8055	+0.194%	$18K	$22K	5x
Aster RENDERUSDT	+0.0100%	4h	1.8073	+0.292%	$276K	$190K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8055	+0.196%	$11.8M	$44.5M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8045	+0.139%	$11.9M	$12.0M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8050	+0.166%	$3.1M	$7.9M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8043	+0.128%	$516K	$1.1M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8050	+0.166%	$10.8M	$11.5M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8070	+0.277%	$4.8M	$9.8M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8058	+0.211%	$9.8M	$10.4M	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	1.8050	+0.166%	—	$5.1M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8032	+0.067%	$255K	$314K	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8040	+0.111%	$40K	$248K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8040	+0.111%	$1.8M	$3.8M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8055	+0.195%	$26K	$254K	10x	as long as short
Deribit RENDER_USDC-PERPETUAL	+0.0138%	1h	1.8050	+0.166%	$18K	$22K	25x	as long as short
Phoenix RENDER	+0.0265%	1h	1.8043	+0.128%	$46K	$309K	5x	as long as short
BloFin RENDER-USDTlong	+0.0340%	4h	1.8020	long leg	$603K	$1.2M	90x
GMX RENDER/USD [ETH-USDC]	L +0.0360% / S −0.0906%	1h	1.8036	+0.091%	$15K	—	100x	as long as short
Kraken Futures PF_RENDERUSD	+0.0425%	1h	1.8062	+0.235%	$422K	$1.4M	50x	as long as short
Hyperliquid RENDER	+0.0581%	1h	1.8073	+0.294%	$4.1M	$3.2M	5x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0624%	1h	1.8160	+0.777%	$149K	$56K	50x	as long as short