Funding you earn now, next payment 22:00 UTC−0.0031%/8h= −3.3% APRpaid last 24h +0.004%
Price spread now: Bitget against Phoenix+0.071%109s7-day average −0.036% · 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—prices read too far apart to compare
costs, in and out, $10k−$590.589% of the position
Funding, last 7 days+0.273%+$27 on $10k
+Price spread, last 3 days (all we have)−0.375%−$37 · spread now +0.071%, 7d avg −0.036%
=The price spread pays, funding is against you. Bitget is 0.107% dearer against Phoenix than usual: you sell high and buy low (spread +0.071% now, against its 7-day average of −0.036%): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days. Mind the row above: over the last 7 days funding on this pair paid +0.273%, so the current rate has only just turned against you. The two prices were read 109 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 | Phoenix RENDER | 1.8377 | 0.0131 | pay 0.0016% / 1h | 51m 34s | $40K | $325K | 5x |
| Short | Bitget RENDERUSDT | 1.8390 | 0.0100 | get 0.0050% / 4h | 1h 51m | $9.9M | $10.4M | 50x |
Phoenix RENDER
Bitget RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Phoenix. 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
- −$6.41
- Price spread: +0.071% → −0.036%
- $10.67
- Slippage, 4 orders
- −$39.85
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$54.59
- Costs to cover
- 0.589%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 29 min ago; Bitget: live order book, 2 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 Phoenix live order book, 29 min ago | 1.07 bp | 13.6 bp −$14 | 53.7 bp −$537 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 2 min ago | 1.90 bp | 15.4 bp −$15 | 32.3 bp −$323 | 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 | +0.397% | $6K | $165K | 12x | as long as short |
| Variational Omni RENDER | −0.0355% | 4h | 1.8443 | +0.361% | $222K | $296K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8398 | +0.115% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8406 | +0.158% | $10K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8405 | +0.150% | $263K | $181K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8386 | +0.051% | $12.2M | $48.6M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8370 | −0.038% | $12.0M | $14.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8410 | +0.180% | $3.1M | $8.5M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8409 | +0.174% | $536K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8380 | +0.016% | $11.4M | $10.3M | 200x | as long as short |
Injective RENDER/USDC PERP
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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8390 | +0.071% | $5.0M | $12.9M | 50x | as long as short |
| Bitget RENDERUSDTshort | +0.0100% | 4h | 1.8390 | +0.071% | $9.9M | $10.4M | 50x | |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8400 | +0.125% | — | $4.4M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8464 | +0.473% | $43K | $268K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8410 | +0.180% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8393 | +0.087% | $31K | $178K | 10x | as long as short |
| Phoenix RENDERlong | +0.0131% | 1h | 1.8377 | long leg | $40K | $325K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8430 | +0.288% | $595K | $1.3M | 90x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0352% | 1h | 1.8670 | +1.594% | $154K | $69K | 50x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0361% / S −0.0904% | 1h | 1.8406 | +0.158% | $15K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0580% | 1h | 1.8433 | +0.303% | $468K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.0797% | 1h | 1.8417 | +0.215% | $4.2M | $3.6M | 5x | as long as short |
KuCoin RENDERUSDTM
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
BloFin RENDER-USDT
Coinbase International RENDER-PERP-INTX
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER