Funding you earn now, next payment 23:00 UTC+0.0073%/8h= +7.9% APRpaid last 24h −0.003%
Price spread now: Phoenix against KuCoin+0.038%63s7-day average +0.036% · you sell dearer than you buy
Net, funding: paid 7d − costs−$116as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$810.813% of the position
Funding, last 7 days−0.350%−$35 on $10k
+Price spread, last 3 days (all we have)+0.154%+$15 · spread now +0.038%, 7d avg +0.036%
=The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.350%, so the current rate has only just turned in your favour. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin RENDERUSDTM | 1.8610 | 0.0100 | pay 0.0050% / 4h | 50m 16s | $5.1M | $12.5M | 50x |
| Short | Phoenix RENDER | 1.8617 | 0.0173 | get 0.0022% / 1h | 50m 16s | $47K | $333K | 5x |
KuCoin RENDERUSDTM
Phoenix RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against KuCoin. 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
- $15.23
- Price spread: +0.038% → +0.036%
- $0.15
- Slippage, 4 orders
- −$62.31
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$65.93
- Costs to cover
- 0.813%
- Break-even
- 37.3 days
Slippage from KuCoin: live order book, 8 min ago; Phoenix: live order book, 25 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 KuCoin live order book, 8 min ago | 2.69 bp | 26.3 bp −$26 | 67.6 bp −$676 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 25 min ago | 1.08 bp | 13.3 bp −$13 | 45.3 bp −$453 | 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 | −0.0140% | 4h | 1.8613 | +0.014% | $225K | $296K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8618 | +0.043% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8595 | −0.081% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8638 | +0.149% | $269K | $172K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8612 | +0.012% | $12.3M | $47.1M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8590 | −0.107% | $12.0M | $13.5M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8610 | 0.000% | $3.2M | $8.4M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8606 | −0.021% | $538K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8610 | 0.000% | $12.1M | $10.4M | 200x | as long as short |
| KuCoin RENDERUSDTMlong | +0.0100% | 4h | 1.8610 | long leg | $5.1M | $12.5M | 50x |
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_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8606 | −0.021% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8610 | 0.000% | — | $4.2M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8609 | −0.005% | $43K | $266K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8630 | +0.107% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8607 | −0.017% | $31K | $178K | 10x | as long as short |
| Injective RENDER/USDC PERP | +0.0110% | 1h | 1.8620 | +0.054% | $6K | $187K | 12x | as long as short |
| Phoenix RENDERshort | +0.0173% | 1h | 1.8617 | +0.038% | $47K | $333K | 5x | |
| Coinbase International RENDER-PERP-INTX | +0.0256% | 1h | 1.8440 | −0.913% | $152K | $65K | 50x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8620 | +0.054% | $590K | $1.3M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0364% / S −0.0912% | 1h | 1.8601 | −0.046% | $16K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0595% | 1h | 1.8626 | +0.085% | $483K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.1772% | 1h | 1.8666 | +0.301% | $4.3M | $3.5M | 5x | as long as short |
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Injective RENDER/USDC PERP
Coinbase International RENDER-PERP-INTX
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER