Funding arb · Price arb /

RENDER

all RENDER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0264%/8h= −28.9% APRpaid last 24h −0.058%

Price spread now: Binance against GMX+0.126%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 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. Binance is 0.126% dearer against GMX than usual: you sell high and buy low (spread +0.126% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX RENDER/USD [ETH-USDC]	1.8423	L +0.0364% / S −0.0907%	pay 0.0045% / 1h	2m 08s	$15K	—	100x
Short	Binance RENDERUSDT	1.8446	0.0100	get 0.0050% / 4h	2m 08s	$12.1M	$47.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +0.126%Rate

Funding earned: −$55.39
Price spread: +0.126% → 0.000%: $12.57
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$64.83
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 10 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 10 min ago	2.70 bp	14.0 bp −$14	31.0 bp −$310	138.1 bp −$13.8K	doesn't fit

GMX: 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	−0.0223%	1h	1.8530	+0.583%	$12K	$194K	12x	as long as short
dYdX RENDER-USD	+0.0054%	1h	1.8440	+0.097%	$19K	$23K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	+0.0075%	1h	1.8444	+0.116%	$12K	$31K	25x	as long as short
Binance RENDERUSDTshort	+0.0100%	4h	1.8446	+0.126%	$12.1M	$47.3M	75x
Bybit RENDERUSDT	+0.0100%	4h	1.8431	+0.045%	$11.8M	$13.2M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8460	+0.203%	$3.1M	$8.2M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8437	+0.078%	$546K	$1.3M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8440	+0.094%	$12.5M	$11.3M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8450	+0.149%	$4.9M	$11.5M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8455	+0.176%	$10.0M	$10.8M	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	1.8440	+0.094%	—	$3.4M	—	as long as short
Variational Omni RENDER	+0.0100%	4h	1.8412	−0.059%	$262K	$313K	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8422	−0.003%	$41K	$251K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8440	+0.094%	$1.8M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8430	+0.040%	$30K	$205K	10x	as long as short
Aster RENDERUSDT	+0.0145%	4h	1.8432	+0.049%	$270K	$153K	20x	as long as short
Phoenix RENDER	+0.0299%	1h	1.8442	+0.105%	$47K	$315K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8460	+0.203%	$572K	$1.1M	90x	as long as short
GMX RENDER/USD [ETH-USDC]long	L +0.0364% / S −0.0907%	1h	1.8423	long leg	$15K	—	100x
Hyperliquid RENDER	+0.0584%	1h	1.8461	+0.208%	$4.2M	$3.3M	5x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0720%	1h	1.8430	+0.040%	$153K	$59K	50x	as long as short
Kraken Futures PF_RENDERUSD	+0.1274%	1h	1.8456	+0.182%	$480K	$1.1M	50x	as long as short