Settings8H · net · $10k
Funding arb · Price arb /

RENDER

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: ApeX Omni against KuCoin+0.423%7-day average +0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$99as in the Funding arb table
Net, price: spread back to 7d avg − costs−$50as in the Price arb table
costs, in and out, $10k−$920.916% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.075%−$8 on $10k
Price spread, last 3 days (all we have)−0.330%−$33 · spread now +0.423%, 7d avg +0.004%
Together, before fees−0.406%−$41 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.419% dearer against KuCoin than usual: you sell high and buy low, +$42 on $10k if it goes back to its 7-day average of +0.004%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin RENDERUSDTM1.86700.0100pay 0.0050% / 4h3h 35m$5.2M$12.2M50x
ShortApeX Omni RENDERUSDT1.87490.0100get 0.0013% / 1h35m 11s$47K$269K50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$0
Price spread: +0.423% → +0.004%
$41.89
Slippage, 4 orders
−$69.56
Fee KuCoin: 6 bp × 2 orders
−$12
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$49.67
Costs to cover
0.916%
Break-even
never at this rate
Slippage from KuCoin: live order book, 3 min ago; ApeX Omni: live order book, 37 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy KuCoin live order book, 3 min ago2.67 bp34.5 bp −$3473.1 bp −$731doesn't fitdoesn't fit
Sell ApeX Omni live order book, 37 min ago5.90 bp13.0 bp −$13109.1 bp −$1,091doesn't fitdoesn't fit

RENDER on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective RENDER/USDC PERP−0.0213%1h1.8680+0.054%$6K$188K12xas long as short
Variational Omni RENDER−0.0079%4h1.8667−0.015%$230K$281Kas long as short
Coinbase International RENDER-PERP-INTX−0.0040%1h1.8820+0.803%$155K$65K50xas long as short
Deribit RENDER_USDC-PERPETUAL−0.0018%1h1.8683+0.070%$11K$30K25xas long as short
dYdX RENDER-USD0.0000%1h1.8697+0.145%$19K$21K5xas long as short
Aster RENDERUSDT+0.0100%4h1.8707+0.197%$270K$147K20xas long as short
Binance RENDERUSDT+0.0100%4h1.8690+0.107%$12.5M$46.9M75xas long as short
Bybit RENDERUSDT+0.0100%4h1.8663−0.037%$12.0M$13.2M50xas long as short
OKX RENDER-USDT-SWAP+0.0100%4h1.8690+0.107%$3.2M$8.3M20xas long as short
Gate RENDER_USDT+0.0100%4h1.8677+0.037%$537K$1.1M50xas long as short
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
MEXC RENDER_USDT+0.0100%4h1.8690+0.107%$12.1M$10.7M200xas long as short
KuCoin RENDERUSDTMlong+0.0100%4h1.8670long leg$5.2M$12.2M50x
Bitget RENDERUSDT+0.0100%4h1.8691+0.112%$10.0M$10.4M50xas long as short
BingX RENDER-USDT+0.0100%4h1.8680+0.054%$4.0Mas long as short
ApeX Omni RENDERUSDTshort+0.0100%1h1.8749+0.423%$47K$269K50x
Phemex RENDERUSDT+0.0100%8h1.8690+0.107%$1.9M$3.9M50xas long as short
Extended RENDER-USD+0.0104%1h1.8684+0.075%$29K$221K10xas long as short
Phoenix RENDER+0.0171%1h1.8712+0.225%$47K$324K5xas long as short
BloFin RENDER-USDT+0.0340%4h1.8710+0.214%$598K$1.2M90xas long as short
GMX RENDER/USD [ETH-USDC]L +0.0365% / S −0.0912%1h1.8675+0.026%$16K100xas long as short
Kraken Futures PF_RENDERUSD+0.0405%1h1.8705+0.189%$475K$1.0M50xas long as short
Hyperliquid RENDER+0.0730%1h1.8729+0.316%$4.3M$3.4M5xas long as short