Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.195%

Price spread now: Gate against dYdX−0.054%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Gate is 0.054% cheaper against dYdX than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 43 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX RENDER-USD	1.8600	0	get 0.0000% / 1h	46m 39s	$19K	$21K	5x
Short	Gate RENDER_USDT	1.8590	0.0100	get 0.0050% / 4h	2h 46m	$544K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against dYdX. 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 dYdXbpFee GatebpOrdersPrice spread, now −0.054%Rate

Funding earned: $21
Price spread: −0.054% → 0.000%: −$5.38
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$9.38
Costs to cover: 0.250%
Break-even: 10.1 days

Slippage unknown: dYdX: no order-book sample; Gate: live order book, just now. 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 dYdX no order-book sample	—	—	—	—	—
Sell Gate live order book, just now	6.45 bp	45.1 bp −$45	152.9 bp −$1,529	doesn't fit	doesn't fit

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	−0.0440%	1h	1.8530	−0.376%	$6K	$92K	12x	as long as short
Bybit RENDERUSDT	−0.0268%	4h	1.8569	−0.167%	$12.1M	$14.6M	50x	as long as short
Variational Omni RENDER	−0.0194%	4h	1.8565	−0.188%	$223K	$255K	—	as long as short
Deribit RENDER_USDC-PERPETUAL	−0.0019%	1h	1.8599	−0.005%	$11K	$33K	25x	as long as short
dYdX RENDER-USDlong	0.0000%	1h	1.8600	long leg	$19K	$21K	5x
Aster RENDERUSDT	+0.0100%	4h	1.8619	+0.104%	$271K	$189K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8609	+0.047%	$12.4M	$49.2M	75x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8590	−0.054%	$3.2M	$8.8M	20x	as long as short
Gate RENDER_USDTshort	+0.0100%	4h	1.8590	−0.054%	$544K	$1.1M	50x
MEXC RENDER_USDT	+0.0100%	4h	1.8600	0.000%	$12.1M	$10.2M	200x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin RENDERUSDTM	+0.0100%	4h	1.8600	0.000%	$5.2M	$13.0M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8605	+0.027%	$10.0M	$10.4M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8590	−0.054%	—	$4.3M	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8614	+0.075%	$44K	$259K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8580	−0.108%	$1.9M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8608	+0.044%	$31K	$178K	10x	as long as short
Phoenix RENDER	+0.0173%	1h	1.8615	+0.081%	$40K	$336K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8590	−0.054%	$601K	$1.4M	90x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0340% / S −0.0785%	1h	1.8613	+0.069%	$14K	—	100x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0520%	1h	1.8570	−0.161%	$153K	$68K	50x	as long as short
Kraken Futures PF_RENDERUSD	+0.0746%	1h	1.8628	+0.150%	$486K	$1.1M	50x	as long as short
Hyperliquid RENDER	+0.1140%	1h	1.8656	+0.301%	$4.3M	$4.3M	5x	as long as short