Funding arb · Price arb /

RENDER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against MEXC+0.130%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$370.365% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 7 days−0.150%−$15 · spread now +0.130%, 7d avg +0.028%

Together, before fees−0.110%−$11 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: Bitget is 0.102% dearer against MEXC than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC RENDER_USDT	1.8440	0.0100	pay 0.0050% / 4h	1h 53m	$11.7M	$10.2M	200x
Short	Bitget RENDERUSDT	1.8464	0.0100	get 0.0050% / 4h	1h 53m	$9.9M	$10.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against MEXC. 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

Position, each leg$Hold fordaysFee MEXCbpFee BitgetbpOrdersPrice spread, now +0.130%Rate

Funding earned: $0
Price spread: +0.130% → +0.028%: $10.2
Slippage, 4 orders: −$24.5
Fee MEXC: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$26.3
Costs to cover: 0.365%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Bitget: live order book, 5 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 MEXC live order book, 4 min ago	2.72 bp	2.7 bp −$3	11.2 bp −$112	45.5 bp −$4,552	208.1 bp −$104.1K
Sell Bitget live order book, 5 min ago	2.45 bp	12.7 bp −$13	31.6 bp −$316	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
Injective RENDER/USDC PERP	−0.0576%	1h	1.8450	+0.054%	$6K	$165K	12x	as long as short
Variational Omni RENDER	−0.0355%	4h	1.8443	+0.019%	$222K	$296K	—	as long as short
dYdX RENDER-USD	0.0000%	1h	1.8467	+0.144%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8468	+0.152%	$11K	$30K	25x	as long as short
Aster RENDERUSDT	+0.0100%	4h	1.8469	+0.155%	$264K	$181K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8447	+0.040%	$12.2M	$48.6M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8430	−0.054%	$12.0M	$14.2M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8460	+0.108%	$3.1M	$8.6M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8452	+0.065%	$537K	$1.1M	50x	as long as short
MEXC RENDER_USDTlong	+0.0100%	4h	1.8440	long leg	$11.7M	$10.2M	200x

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin RENDERUSDTM	+0.0100%	4h	1.8440	0.000%	$5.0M	$12.9M	50x	as long as short
Bitget RENDERUSDTshort	+0.0100%	4h	1.8464	+0.130%	$9.9M	$10.4M	50x
BingX RENDER-USDT	+0.0100%	4h	1.8460	+0.108%	—	$4.4M	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8403	−0.201%	$43K	$268K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8450	+0.054%	$1.8M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8444	+0.023%	$31K	$178K	10x	as long as short
Phoenix RENDER	+0.0173%	1h	1.8377	−0.342%	$40K	$325K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8440	0.000%	$595K	$1.4M	90x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0352%	1h	1.8670	+1.247%	$154K	$69K	50x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0361% / S −0.0904%	1h	1.8462	+0.121%	$15K	—	100x	as long as short
Kraken Futures PF_RENDERUSD	+0.0578%	1h	1.8493	+0.286%	$470K	$1.1M	50x	as long as short
Hyperliquid RENDER	+0.0858%	1h	1.8477	+0.201%	$4.2M	$3.6M	5x	as long as short