Funding you earn now, next payment 00:00 UTC−0.0175%/8h= −19.2% APRpaid last 24h −0.053%
Price spread now: Variational Omni against Phemex−0.308%7-day average −0.096% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.083%−$8 on $10k
+Price spread, last 3 days (all we have)+0.375%+$38 · spread now −0.308%, 7d avg −0.096%
=Together, before fees+0.292%+ Points / potential airdropVariational Omni: Active · farm board+$29 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Variational Omni is 0.211% cheaper against Phemex than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.096%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex RENDERUSDT | 1.8690 | 0.0100 | pay 0.0100% / 8h | 6m 05s | $1.9M | $4.0M | 50x |
| Short | Variational Omni RENDER | 1.8632 | −0.0075 | pay 0.0038% / 4h | 6m 05s | $229K | $293K | — |
Phemex RENDERUSDT
Variational Omni RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Phemex. 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
- −$36.77
- Price spread: −0.308% → −0.096%
- −$21.13
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$69.9
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 3 min ago; Variational Omni: RFQ quote, 8 min ago. Net counts fees only.
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 Phemex live order book, 3 min ago | 10.70 bp | 43.9 bp −$44 | 115.7 bp −$1,157 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 8 min ago | 5.44 bp | doesn't fit | 39.2 bp −$392 | 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 RENDERshort | −0.0075% | 4h | 1.8632 | −0.308% | $229K | $293K | — | |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8643 | −0.249% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8665 | −0.134% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8706 | +0.088% | $270K | $164K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8721 | +0.165% | $12.5M | $47.0M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8690 | 0.000% | $12.1M | $13.3M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8720 | +0.161% | $3.2M | $8.4M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8699 | +0.048% | $539K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8630 | −0.321% | $12.1M | $10.7M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8670 | −0.107% | $5.2M | $12.3M | 50x | as long as short |
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 | 1.8712 | +0.118% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8710 | +0.107% | — | $4.1M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8713 | +0.123% | $44K | $267K | 50x | as long as short |
| Phemex RENDERUSDTlong | +0.0100% | 8h | 1.8690 | long leg | $1.9M | $4.0M | 50x | |
| Extended RENDER-USD | +0.0104% | 1h | 1.8714 | +0.129% | $31K | $178K | 10x | as long as short |
| Injective RENDER/USDC PERP | +0.0110% | 1h | 1.8670 | −0.107% | $6K | $187K | 12x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8720 | +0.161% | $48K | $333K | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0256% | 1h | 1.8650 | −0.214% | $154K | $64K | 50x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8710 | +0.107% | $594K | $1.3M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0365% / S −0.0912% | 1h | 1.8662 | −0.152% | $16K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0592% | 1h | 1.8718 | +0.150% | $480K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.1384% | 1h | 1.8755 | +0.348% | $4.4M | $3.4M | 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]
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER