Funding you earn now, next payment 00:00 UTC+0.0256%/8h= +28.0% APRpaid last 24h +0.035%
Price spread now: Kraken Futures against BloFin−0.037%7-day average +0.064% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs−$85as in the Price arb table
costs, in and out, $10k−$750.749% of the position
Funding, last 7 days+0.109%+$11 on $10k
+Price spread, last 3 days (all we have)+0.096%+$10 · spread now −0.037%, 7d avg +0.064%
=Funding pays, the price is against you. Kraken Futures is 0.101% cheaper against BloFin than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of +0.064%). If the spread goes back, that is −$10 on $10k: about 32 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.109% in total) that is about 6.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.109% in total (about 5.7% 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 | BloFin RENDER-USDT | 1.8610 | 0.0340 | pay 0.0170% / 4h | 43m 15s | $592K | $1.2M | 90x |
| Short | Kraken Futures PF_RENDERUSD | 1.8603 | 0.0596 | get 0.0074% / 1h | 43m 15s | $482K | $1.1M | 50x |
BloFin RENDER-USDT
Kraken Futures PF_RENDERUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against BloFin. 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
- $53.76
- Price spread: −0.037% → +0.064%
- −$10.14
- Slippage, 4 orders
- −$52.9
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$31.28
- Costs to cover
- 0.749%
- Break-even
- 11.1 days
Slippage from BloFin: live order book, 4 min ago; Kraken Futures: live order book, 5 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 BloFin live order book, 4 min ago | 5.38 bp | 11.4 bp −$11 | 19.8 bp −$198 | 64.3 bp −$6,428 | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 11.80 bp | 23.8 bp −$24 | 46.2 bp −$462 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni RENDER | −0.0089% | 4h | 1.8603 | −0.039% | $225K | $296K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8608 | −0.013% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8582 | −0.150% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8610 | 0.000% | $269K | $166K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8580 | −0.161% | $12.4M | $47.1M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8560 | −0.269% | $12.0M | $13.5M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8580 | −0.161% | $3.2M | $8.4M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8576 | −0.183% | $537K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8580 | −0.161% | $12.4M | $10.5M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8570 | −0.215% | $5.1M | $12.5M | 50x | as long as short |
Variational Omni RENDER
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTMShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8581 | −0.156% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8580 | −0.161% | — | $4.2M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8610 | 0.000% | $43K | $266K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8580 | −0.161% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8586 | −0.127% | $31K | $178K | 10x | as long as short |
| Injective RENDER/USDC PERP | +0.0110% | 1h | 1.8580 | −0.161% | $6K | $187K | 12x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8642 | +0.172% | $47K | $333K | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0256% | 1h | 1.8440 | −0.913% | $152K | $65K | 50x | as long as short |
| BloFin RENDER-USDTlong | +0.0340% | 4h | 1.8610 | long leg | $592K | $1.2M | 90x | |
| GMX RENDER/USD [ETH-USDC] | L +0.0363% / S −0.0912% | 1h | 1.8581 | −0.153% | $16K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSDshort | +0.0596% | 1h | 1.8603 | −0.037% | $482K | $1.1M | 50x | |
| Hyperliquid RENDER | +0.1820% | 1h | 1.8637 | +0.145% | $4.3M | $3.5M | 5x | as long as short |
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Injective RENDER/USDC PERP
Phoenix RENDER
Coinbase International RENDER-PERP-INTX
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER