Funding you earn now, next payment 22:00 UTC−0.0264%/8h= −28.9% APRpaid last 24h −0.049%
Price spread now: Phemex against GMX−0.076%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Phemex is 0.076% cheaper against GMX than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX RENDER/USD [ETH-USDC] | 1.8794 | L +0.0364% / S −0.0904% | pay 0.0046% / 1h | 24m 43s | $16K | — | 100x |
| Short | Phemex RENDERUSDT | 1.8780 | 0.0100 | get 0.0100% / 8h | 2h 24m | $1.9M | $4.0M | 50x |
GMX RENDER/USD [ETH-USDC]
Phemex RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against GMX. 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
- −$55.49
- Price spread: −0.076% → 0.000%
- −$7.65
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$87.14
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Phemex: live order book, 4 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 Phemex live order book, 4 min ago | 2.67 bp | 27.8 bp −$28 | 95.2 bp −$952 | doesn't fit | 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 | −0.0440% | 1h | 1.8670 | −0.662% | $6K | $141K | 12x | as long as short |
| Variational Omni RENDER | −0.0275% | 4h | 1.8749 | −0.240% | $238K | $271K | — | as long as short |
| Bybit RENDERUSDT | −0.0081% | 4h | 1.8761 | −0.178% | $12.2M | $14.6M | 50x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8789 | −0.026% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8794 | −0.002% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8819 | +0.131% | $269K | $196K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8800 | +0.030% | $12.6M | $49.2M | 75x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8790 | −0.023% | $3.2M | $8.9M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8797 | +0.014% | $553K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8800 | +0.030% | $12.2M | $10.3M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
Bybit RENDERUSDT
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Binance RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8780 | −0.076% | $5.2M | $13.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8794 | −0.002% | $10.1M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8790 | −0.023% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8789 | −0.029% | $45K | $267K | 50x | as long as short |
| Phemex RENDERUSDTshort | +0.0100% | 8h | 1.8780 | −0.076% | $1.9M | $4.0M | 50x | |
| Extended RENDER-USD | +0.0104% | 1h | 1.8801 | +0.038% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8801 | +0.035% | $41K | $336K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8820 | +0.136% | $608K | $1.5M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC]long | L +0.0364% / S −0.0904% | 1h | 1.8794 | long leg | $16K | — | 100x | |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8640 | −0.821% | $154K | $68K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0739% | 1h | 1.8820 | +0.135% | $492K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.0845% | 1h | 1.8837 | +0.227% | $4.3M | $3.7M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER