Funding you earn now, next payment 04:00 UTC+0.0223%/8h= +24.4% APRnext payment +$0.28 per $10,000 · paid last 24h +0.142%
Price spread now: Deribit against Injective−0.547%63s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.006%+$1 on $10k
+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. Deribit is 0.547% cheaper against Injective than usual: you would sell low and buy high (spread −0.547% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$55 on $10k: about 8.2 days of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.006% in total) that is about 22 months. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.006% in total (about 0.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 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 | Injective RENDER/USDC PERP | 1.8640 | −0.0223 | get 0.0028% / 1h | 51m 55s | $6K | $188K | 12x |
| Short | Deribit RENDER_USDC-PERPETUAL | 1.8538 | 0 | get 0.0000% / 1h | 51m 55s | $11K | $30K | 25x |
Injective RENDER/USDC PERP
Deribit RENDER_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Injective. 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
- $46.86
- Price spread: −0.547% → 0.000%
- −$54.72
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$14.88
- Costs to cover
- 0.070%
- Break-even
- 9.2 days
Slippage unknown: Injective: live order book, 22 min ago; Deribit: no order-book sample. 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 Injective live order book, 22 min ago | 60.80 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 PERPlong | −0.0223% | 1h | 1.8640 | long leg | $6K | $188K | 12x | |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8567 | −0.392% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUALshort | 0.0000% | 1h | 1.8538 | −0.547% | $11K | $30K | 25x | |
| ApeX Omni RENDERUSDT | +0.0038% | 1h | 1.8638 | −0.011% | $41K | $253K | 50x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8526 | −0.613% | $12.4M | $47.0M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8520 | −0.644% | $11.8M | $13.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8540 | −0.536% | $3.1M | $8.2M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8541 | −0.531% | $568K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8530 | −0.590% | $13.0M | $11.2M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8560 | −0.429% | $5.0M | $11.8M | 50x | as long as short |
dYdX RENDER-USD
ApeX Omni 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 | 1.8534 | −0.569% | $10.1M | $10.8M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8530 | −0.590% | — | $3.6M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8692 | +0.279% | $266K | $313K | — | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8560 | −0.429% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8545 | −0.510% | $27K | $200K | 10x | as long as short |
| Phoenix RENDER | +0.0299% | 1h | 1.8680 | +0.215% | $48K | $315K | 5x | as long as short |
| Aster RENDERUSDT | +0.0338% | 4h | 1.8564 | −0.405% | $269K | $147K | 20x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8620 | −0.107% | $588K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0366% / S −0.0912% | 1h | 1.8540 | −0.537% | $15K | — | 100x | as long as short |
| Hyperliquid RENDER | +0.0579% | 1h | 1.8558 | −0.438% | $4.2M | $3.2M | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0720% | 1h | 1.8900 | +1.395% | $155K | $57K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1267% | 1h | 1.8563 | −0.414% | $482K | $1.1M | 50x | as long as short |
Bitget RENDERUSDT
BingX RENDER-USDT
Variational Omni RENDER
Phemex RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
Aster RENDERUSDT
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD