Funding you earn now, next payment 08:00 UTC−0.0396%/8h= −43.3% APRpaid last 24h −0.075%
Price spread now: BloFin against Kraken Futures−0.084%7-day average −0.055% · you buy dearer than you sell
Net, funding: paid 7d − costs−$85as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$630.627% of the position
Funding, last 7 days−0.224%−$22 on $10k
+Price spread, last 4 days (all we have)+0.015%+$1 · spread now −0.084%, 7d avg −0.055%
=Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and BloFin is 0.029% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.055%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.224% in total (about -11.7% a year). A funding rate is set anew for every payment. 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 | Kraken Futures PF_RENDERUSD | 1.8035 | 0.0736 | pay 0.0092% / 1h | 38m 33s | $422K | $1.4M | 50x |
| Short | BloFin RENDER-USDT | 1.8020 | 0.0340 | get 0.0170% / 4h | 38m 33s | $599K | $1.2M | 90x |
Kraken Futures PF_RENDERUSD
BloFin RENDER-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Kraken Futures. 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
- −$83.07
- Price spread: −0.084% → −0.055%
- −$2.89
- Slippage, 4 orders
- −$40.75
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$148.71
- Costs to cover
- 0.627%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; BloFin: live order book, 4 min ago.
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 Kraken Futures live order book, 5 min ago | 6.37 bp | 18.2 bp −$18 | 58.1 bp −$581 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 4 min ago | 5.53 bp | 11.5 bp −$12 | 18.6 bp −$186 | 67.9 bp −$6,788 | doesn't fit |
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 | 1.8010 | −0.139% | $11K | $194K | 12x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8022 | −0.073% | $18K | $37K | 25x | as long as short |
| dYdX RENDER-USD | +0.0010% | 1h | 1.8016 | −0.104% | $18K | $22K | 5x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8021 | −0.079% | $11.7M | $46.2M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8018 | −0.095% | $11.8M | $12.7M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8030 | −0.028% | $3.1M | $8.1M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8010 | −0.139% | $515K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8020 | −0.084% | $11.0M | $11.7M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8030 | −0.028% | $4.8M | $10.2M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8025 | −0.056% | $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 | 1.8020 | −0.084% | — | $5.1M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8056 | +0.118% | $256K | $314K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8079 | +0.243% | $40K | $250K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8020 | −0.084% | $1.8M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8024 | −0.063% | $29K | $234K | 10x | as long as short |
| Aster RENDERUSDT | +0.0139% | 4h | 1.8021 | −0.079% | $276K | $189K | 20x | as long as short |
| Phoenix RENDER | +0.0266% | 1h | 1.8079 | +0.243% | $46K | $339K | 5x | as long as short |
| BloFin RENDER-USDTshort | +0.0340% | 4h | 1.8020 | −0.084% | $599K | $1.2M | 90x | |
| GMX RENDER/USD [ETH-USDC] | L +0.0360% / S −0.0906% | 1h | 1.8019 | −0.088% | $15K | — | 100x | as long as short |
| Hyperliquid RENDER | +0.0412% | 1h | 1.8039 | +0.021% | $4.1M | $3.4M | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0512% | 1h | 1.8060 | +0.138% | $149K | $61K | 50x | as long as short |
| Kraken Futures PF_RENDERUSDlong | +0.0736% | 1h | 1.8035 | long leg | $422K | $1.4M | 50x |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Aster RENDERUSDT
Phoenix RENDER
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER
Coinbase International RENDER-PERP-INTX