Funding you earn now, next payment 00:00 UTC−0.0496%/8h= −54.3% APRpaid last 24h −0.107%
Price spread now: Phemex against Kraken Futures−0.124%7-day average −0.098% · you buy dearer than you sell
Net, funding: paid 7d − costs−$159as in the Funding arb table
Net, price: spread back to 7d avg − costs−$93as in the Price arb table
costs, in and out, $10k−$900.904% of the position
Funding, last 7 days−0.688%−$69 on $10k
+Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.124%, 7d avg −0.098%
=Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Phemex is 0.026% 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 −0.098%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_RENDERUSD | 1.8603 | 0.0596 | pay 0.0074% / 1h | 42m 42s | $482K | $1.1M | 50x |
| Short | Phemex RENDERUSDT | 1.8580 | 0.0100 | get 0.0100% / 8h | 42m 42s | $1.9M | $4.0M | 50x |
Kraken Futures PF_RENDERUSD
Phemex RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$104.16
- Price spread: −0.124% → −0.098%
- −$2.57
- Slippage, 4 orders
- −$68.44
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$197.16
- Costs to cover
- 0.904%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; Phemex: live order book, 6 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, 1 min ago | 2.96 bp | 17.7 bp −$18 | 49.8 bp −$498 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 6 min ago | 8.05 bp | 27.1 bp −$27 | 91.6 bp −$916 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni RENDER | −0.0089% | 4h | 1.8603 | −0.002% | $225K | $296K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8568 | −0.191% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8582 | −0.113% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8596 | −0.039% | $268K | $166K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8575 | −0.151% | $12.4M | $47.1M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8555 | −0.258% | $12.0M | $13.5M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8560 | −0.231% | $3.1M | $8.4M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8573 | −0.161% | $537K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8570 | −0.178% | $12.4M | $10.5M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8560 | −0.231% | $5.1M | $12.5M | 50x | as long as short |
Variational Omni RENDER
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster 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 | 1.8573 | −0.161% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8580 | −0.124% | — | $4.2M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8610 | +0.037% | $43K | $266K | 50x | as long as short |
| Phemex RENDERUSDTshort | +0.0100% | 8h | 1.8580 | −0.124% | $1.9M | $4.0M | 50x | |
| Extended RENDER-USD | +0.0104% | 1h | 1.8570 | −0.178% | $31K | $178K | 10x | as long as short |
| Injective RENDER/USDC PERP | +0.0110% | 1h | 1.8580 | −0.124% | $6K | $187K | 12x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8642 | +0.209% | $47K | $333K | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0256% | 1h | 1.8440 | −0.876% | $152K | $65K | 50x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8610 | +0.037% | $592K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0363% / S −0.0912% | 1h | 1.8581 | −0.116% | $16K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSDlong | +0.0596% | 1h | 1.8603 | long leg | $482K | $1.1M | 50x | |
| Hyperliquid RENDER | +0.1816% | 1h | 1.8623 | +0.107% | $4.3M | $3.5M | 5x | as long as short |
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Extended RENDER-USD
Injective RENDER/USDC PERP
Phoenix RENDER
Coinbase International RENDER-PERP-INTX
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDER