Funding you earn now, next payment 08:00 UTC−0.0198%/8h= −21.7% APRnext payment −$0.25 per $10,000 · paid last 24h +0.071%
Price spread now: Kraken Futures against Coinbase International−0.818%7-day average −0.216% · you buy dearer than you sell
Net, funding: paid 7d − costs−$152as in the Funding arb table
Net, price: spread back to 7d avg − costs−$225as in the Price arb table
costs, in and out, $10k−$1651.648% of the position
Funding, last 7 days+0.126%+$13 on $10k
+Price spread, last 4 days (all we have)+0.457%+$46 · spread now −0.818%, 7d avg −0.216%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Kraken Futures is 0.601% cheaper against Coinbase International than usual: you would sell low and buy high (−$60 if the spread goes back to its 7-day average of −0.216%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.126%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.126% in total (about 6.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 per $10,000. 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 | Coinbase International RENDER-PERP-INTX | 1.8160 | 0.0624 | pay 0.0078% / 1h | 55m 54s | $149K | $56K | 50x |
| Short | Kraken Futures PF_RENDERUSD | 1.8011 | 0.0426 | get 0.0053% / 1h | 55m 54s | $421K | $1.4M | 50x |
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Coinbase International. 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
- −$41.59
- Price spread: −0.818% → −0.216%
- −$60.13
- Slippage, 4 orders
- −$144.84
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$266.56
- Costs to cover
- 1.648%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 42 min ago; Kraken Futures: live order book, 3 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 Coinbase International live order book, 42 min ago | 13.89 bp | 73.6 bp −$74 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 10.82 bp | 23.9 bp −$24 | 56.4 bp −$564 | 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 | −0.0013% | 1h | 1.8020 | −0.771% | $11K | $194K | 12x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8017 | −0.787% | $18K | $22K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.7988 | −0.947% | $18K | $22K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.7973 | −1.031% | $275K | $190K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.7951 | −1.151% | $11.7M | $44.7M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.7946 | −1.178% | $11.8M | $12.1M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.7970 | −1.046% | $3.1M | $7.9M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.7960 | −1.101% | $513K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.7950 | −1.156% | $10.8M | $11.4M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.7970 | −1.046% | $4.8M | $9.8M | 50x | as long as short |
Injective RENDER/USDC PERP
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 | 1.7950 | −1.156% | $9.8M | $10.5M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.7960 | −1.101% | — | $5.1M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.7972 | −1.035% | $255K | $314K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8076 | −0.463% | $40K | $248K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.7980 | −0.991% | $1.8M | $3.8M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.7967 | −1.063% | $26K | $254K | 10x | as long as short |
| Phoenix RENDER | +0.0266% | 1h | 1.8080 | −0.441% | $46K | $306K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8010 | −0.826% | $604K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0360% / S −0.0906% | 1h | 1.7979 | −0.996% | $15K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSDshort | +0.0426% | 1h | 1.8011 | −0.818% | $421K | $1.4M | 50x | |
| Hyperliquid RENDER | +0.0526% | 1h | 1.7972 | −1.035% | $4.1M | $3.2M | 5x | as long as short |
| Coinbase International RENDER-PERP-INTXlong | +0.0624% | 1h | 1.8160 | long leg | $149K | $56K | 50x |
Bitget RENDERUSDT
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER