Funding you earn now, next payment 02:00 UTC+0.0081%/8h= +8.8% APRpaid last 24h +0.074%
Price spread now: BloFin against Phoenix−0.218%7-day average −0.042% · you buy dearer than you sell
Net, funding: paid 7d − costs+$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$81as in the Price arb table
costs, in and out, $10k−$630.634% of the position
Funding, last 7 days+0.702%+$70 on $10k
+Price spread, last 4 days (all we have)−0.468%−$47 · spread now −0.218%, 7d avg −0.042%
=Funding pays, the price is against you. BloFin is 0.176% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.218% now, against its 7-day average of −0.042%). If the spread goes back, that is −$18 on $10k: about 7.3 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.702% in total) that is about 42 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix RENDER | 1.8821 | 0.0259 | pay 0.0032% / 1h | 40m 04s | $48K | $246K | 5x |
| Short | BloFin RENDER-USDT | 1.8780 | 0.0340 | get 0.0170% / 4h | 1h 40m | $582K | $1.1M | 90x |
Phoenix RENDER
BloFin RENDER-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- $16.95
- Price spread: −0.218% → −0.042%
- −$17.63
- Slippage, 4 orders
- −$44.4
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$64.08
- Costs to cover
- 0.634%
- Break-even
- 33.5 days
Slippage from Phoenix: live order book, 21 min ago; BloFin: 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, 21 min ago | 1.08 bp | 13.3 bp −$13 | 53.1 bp −$531 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 2 min ago | 5.32 bp | 11.3 bp −$11 | 21.1 bp −$211 | 81.9 bp −$8,194 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX RENDER-USD | 0.0000% | 1h | 1.8806 | −0.077% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8831 | +0.053% | $11K | $30K | 25x | as long as short |
| Injective RENDER/USDC PERP | +0.0036% | 1h | 1.8740 | −0.430% | $6K | $188K | 12x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8900 | +0.418% | $12.5M | $45.0M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8882 | +0.324% | $12.1M | $12.7M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8890 | +0.367% | $3.2M | $8.1M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8859 | +0.202% | $571K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8860 | +0.207% | $11.4M | $10.7M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8880 | +0.313% | $5.2M | $11.8M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8883 | +0.329% | $10.2M | $10.3M | 50x | as long as short |
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Injective RENDER/USDC PERP
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTM
Bitget RENDERUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX RENDER-USDT | +0.0100% | 4h | 1.8890 | +0.367% | — | $3.5M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8796 | −0.131% | $232K | $276K | — | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8830 | +0.048% | $1.9M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8875 | +0.286% | $28K | $203K | 10x | as long as short |
| Aster RENDERUSDT | +0.0112% | 4h | 1.8840 | +0.101% | $272K | $139K | 20x | as long as short |
| Phoenix RENDERlong | +0.0259% | 1h | 1.8821 | long leg | $48K | $246K | 5x | |
| ApeX Omni RENDERUSDT | +0.0276% | 1h | 1.8799 | −0.117% | $47K | $252K | 50x | as long as short |
| BloFin RENDER-USDTshort | +0.0340% | 4h | 1.8780 | −0.218% | $582K | $1.1M | 90x | |
| GMX RENDER/USD [ETH-USDC] | L +0.0368% / S −0.0912% | 1h | 1.8821 | −0.001% | $16K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0456% | 1h | 1.8830 | +0.048% | $153K | $53K | 50x | as long as short |
| Hyperliquid RENDER | +0.0961% | 1h | 1.8913 | +0.489% | $4.3M | $3.2M | 5x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1418% | 1h | 1.8867 | +0.245% | $492K | $1.0M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
Phemex RENDERUSDT
Extended RENDER-USD
Aster RENDERUSDT
ApeX Omni RENDERUSDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Hyperliquid RENDER
Kraken Futures PF_RENDERUSD