Funding you earn now, next payment 21:00 UTC+0.0612%/8h= +67.0% APRnext payment +$0.77 per $10,000 · paid last 24h +0.227%
Price spread now: Phoenix against Injective+0.459%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.075%+$8 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Phoenix is 0.459% dearer against Injective than usual: you sell high and buy low: +$46 more if the spread goes back to zero (this spread has no 7-day history yet).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.075% in total (about 3.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.77 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 | 1.8530 | −0.0440 | get 0.0055% / 1h | 43m 57s | $6K | $92K | 12x |
| Short | Phoenix RENDER | 1.8615 | 0.0173 | get 0.0022% / 1h | 43m 57s | $40K | $336K | 5x |
Injective RENDER/USDC PERP
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $128.53
- Price spread: +0.459% → 0.000%
- $45.87
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $167.38
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Phoenix: live order book, 42 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 Injective no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 42 min ago | 1.09 bp | 13.4 bp −$13 | 45.6 bp −$456 | doesn't fit | doesn't fit |
Injective: 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 | −0.0440% | 1h | 1.8530 | long leg | $6K | $92K | 12x | |
| Bybit RENDERUSDT | −0.0268% | 4h | 1.8590 | +0.324% | $12.1M | $14.6M | 50x | as long as short |
| Variational Omni RENDER | −0.0246% | 4h | 1.8580 | +0.270% | $223K | $255K | — | as long as short |
| Deribit RENDER_USDC-PERPETUAL | −0.0072% | 1h | 1.8612 | +0.443% | $11K | $33K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8610 | +0.430% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8629 | +0.533% | $271K | $189K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8620 | +0.488% | $12.4M | $49.2M | 75x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8630 | +0.540% | $3.2M | $8.8M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8602 | +0.389% | $544K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8610 | +0.432% | $12.1M | $10.2M | 200x | as long as short |
Bybit RENDERUSDT
Variational Omni RENDER
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
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 | 1.8600 | +0.378% | $5.1M | $13.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8617 | +0.470% | $10.0M | $10.4M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8620 | +0.486% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8606 | +0.410% | $44K | $265K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8600 | +0.378% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8614 | +0.454% | $31K | $178K | 10x | as long as short |
| Phoenix RENDERshort | +0.0173% | 1h | 1.8615 | +0.459% | $40K | $336K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8570 | +0.216% | $600K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0340% / S −0.0785% | 1h | 1.8595 | +0.351% | $14K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8570 | +0.216% | $153K | $68K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0746% | 1h | 1.8637 | +0.576% | $487K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.1098% | 1h | 1.8637 | +0.577% | $4.2M | $4.3M | 5x | as long as short |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER