Funding you earn now, next payment 03:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.193%
Price spread now: Injective against Bybit−0.409%108s7-day average −0.064% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.364%−$36 on $10k
+Price spread, last 4 days (all we have)+0.152%+$15 · spread now −0.409%, 7d avg −0.064%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.345% cheaper against Bybit than usual: you would sell low and buy high (−$35 if the spread goes back to its 7-day average of −0.064%). Swap the legs. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit RENDERUSDT | 1.8817 | 0.0100 | pay 0.0050% / 4h | 1h 41m | $12.0M | $12.7M | 50x |
| Short | Injective RENDER/USDC PERP | 1.8740 | 0.0036 | get 0.0004% / 1h | 41m 30s | $6K | $188K | 12x |
Bybit RENDERUSDT
Injective RENDER/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. 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
- −$13.52
- Price spread: −0.409% → −0.064%
- −$34.52
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$59.05
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 2 min ago; Injective: live order book, 38 min ago. 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 Bybit live order book, 2 min ago | 5.31 bp | 12.8 bp −$13 | 35.5 bp −$355 | doesn't fit | doesn't fit |
| Sell Injective live order book, 38 min ago | 32.43 bp | doesn't fit | doesn't fit | 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 | 1.8786 | −0.162% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8799 | −0.096% | $11K | $30K | 25x | as long as short |
| Injective RENDER/USDC PERPshort | +0.0036% | 1h | 1.8740 | −0.409% | $6K | $188K | 12x | |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8824 | +0.039% | $12.5M | $45.0M | 75x | as long as short |
| Bybit RENDERUSDTlong | +0.0100% | 4h | 1.8817 | long leg | $12.0M | $12.7M | 50x | |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8830 | +0.069% | $3.2M | $8.1M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8802 | −0.080% | $570K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8800 | −0.090% | $11.3M | $10.7M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8800 | −0.090% | $5.2M | $11.8M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8804 | −0.069% | $10.2M | $10.3M | 50x | as long as short |
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Binance 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-USDT | +0.0100% | 4h | 1.8810 | −0.037% | — | $3.5M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8677 | −0.745% | $230K | $276K | — | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8800 | −0.090% | $1.9M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8811 | −0.033% | $28K | $203K | 10x | as long as short |
| Aster RENDERUSDT | +0.0108% | 4h | 1.8826 | +0.049% | $272K | $139K | 20x | as long as short |
| Phoenix RENDER | +0.0259% | 1h | 1.8750 | −0.356% | $48K | $246K | 5x | as long as short |
| ApeX Omni RENDERUSDT | +0.0276% | 1h | 1.8799 | −0.096% | $47K | $252K | 50x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8770 | −0.250% | $579K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0368% / S −0.0912% | 1h | 1.8791 | −0.139% | $16K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0456% | 1h | 1.8830 | +0.069% | $153K | $53K | 50x | as long as short |
| Hyperliquid RENDER | +0.0949% | 1h | 1.8831 | +0.073% | $4.3M | $3.2M | 5x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1421% | 1h | 1.8825 | +0.045% | $491K | $1.0M | 50x | as long as short |
BingX RENDER-USDT
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
Kraken Futures PF_RENDERUSD