Funding you earn now, next payment 07:00 UTC−0.0095%/8h= −10.4% APRnext payment −$0.12 per $10,000 · paid last 24h −0.060%
Price spread now: Phoenix against GMX+0.054%7-day average — · you sell dearer than you buy
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
The price spread pays, funding is against you. Phoenix is 0.054% dearer against GMX than usual: you sell high and buy low (spread +0.054% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 46 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX RENDER/USD [ETH-USDC] | 1.8065 | L +0.0361% / S −0.0906% | pay 0.0045% / 1h | 42m 35s | $15K | — | 100x |
| Short | Phoenix RENDER | 1.8075 | 0.0266 | get 0.0033% / 1h | 42m 35s | $46K | $339K | 5x |
GMX RENDER/USD [ETH-USDC]
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$19.89
- Price spread: +0.054% → 0.000%
- $5.39
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$33.5
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Phoenix: live order book, 59 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 Phoenix live order book, 59 min ago | 1.11 bp | 13.5 bp −$13 | 45.5 bp −$455 | 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 | −0.0131% | 1h | 1.8060 | −0.029% | $11K | $194K | 12x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8066 | +0.004% | $18K | $37K | 25x | as long as short |
| dYdX RENDER-USD | +0.0012% | 1h | 1.8049 | −0.088% | $18K | $22K | 5x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8067 | +0.012% | $11.7M | $46.2M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8071 | +0.032% | $11.8M | $12.7M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8090 | +0.137% | $3.1M | $8.2M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8053 | −0.068% | $516K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8060 | −0.029% | $11.0M | $11.7M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8070 | +0.026% | $4.8M | $10.2M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8074 | +0.048% | $9.8M | $10.7M | 50x | as long as short |
Injective RENDER/USDC PERP
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Binance RENDERUSDT
Bybit 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 | 1.8060 | −0.029% | — | $5.1M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8071 | +0.034% | $256K | $314K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8064 | −0.007% | $40K | $251K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8060 | −0.029% | $1.8M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8061 | −0.026% | $32K | $222K | 10x | as long as short |
| Aster RENDERUSDT | +0.0158% | 4h | 1.8067 | +0.012% | $277K | $189K | 20x | as long as short |
| Phoenix RENDERshort | +0.0266% | 1h | 1.8075 | +0.054% | $46K | $339K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8090 | +0.137% | $605K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC]long | L +0.0361% / S −0.0906% | 1h | 1.8065 | long leg | $15K | — | 100x | |
| Hyperliquid RENDER | +0.0424% | 1h | 1.8080 | +0.082% | $4.1M | $3.4M | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0512% | 1h | 1.8060 | −0.029% | $149K | $61K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0734% | 1h | 1.8074 | +0.048% | $423K | $1.4M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Aster RENDERUSDT
BloFin RENDER-USDT
Hyperliquid RENDER
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD