Funding you earn now, next payment 00:00 UTC+0.0741%/8h= +81.2% APRnext payment +$0.93 per $10,000 · paid last 24h +0.139%
Price spread now: GMX against Phoenix+0.018%55s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$22 a day on $10k at the current rate. The two prices were read 55 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 | 1.8727 | 0.0171 | pay 0.0021% / 1h | 13m 29s | $48K | $324K | 5x |
| Short | GMX RENDER/USD [ETH-USDC] | 1.8730 | L +0.0365% / S −0.0912% | get 0.0114% / 1h | 13m 29s | $16K | — | 100x |
Phoenix RENDER
GMX RENDER/USD [ETH-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- $155.7
- Price spread: +0.018% → 0.000%
- $1.75
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $138.45
- Costs to cover
- 0.190%
- Break-even
- 0.8 days
Slippage unknown: Phoenix: live order book, 57 min ago; GMX: no order-book sample. 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 Phoenix live order book, 57 min ago | 1.07 bp | 13.5 bp −$14 | 53.0 bp −$530 | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0213% | 1h | 1.8630 | −0.518% | $6K | $188K | 12x | as long as short |
| Coinbase International RENDER-PERP-INTX | −0.0040% | 1h | 1.8830 | +0.550% | $155K | $65K | 50x | as long as short |
| Variational Omni RENDER | −0.0011% | 4h | 1.8797 | +0.374% | $231K | $280K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8707 | −0.107% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8729 | +0.011% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8746 | +0.103% | $270K | $146K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8718 | −0.048% | $12.5M | $46.0M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8699 | −0.150% | $12.1M | $13.0M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8720 | −0.037% | $3.2M | $8.2M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8702 | −0.133% | $529K | $1.1M | 50x | as long as short |
Injective RENDER/USDC PERP
Coinbase International RENDER-PERP-INTX
Variational Omni RENDER
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8720 | −0.037% | $12.0M | $10.9M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8710 | −0.091% | $5.2M | $12.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8721 | −0.032% | $10.1M | $10.4M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8710 | −0.091% | — | $3.9M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8869 | +0.758% | $47K | $269K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8730 | +0.016% | $1.9M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8716 | −0.061% | $29K | $205K | 10x | as long as short |
| Phoenix RENDERlong | +0.0171% | 1h | 1.8727 | long leg | $48K | $324K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8820 | +0.497% | $598K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC]short | L +0.0365% / S −0.0912% | 1h | 1.8730 | +0.018% | $16K | — | 100x | |
| Kraken Futures PF_RENDERUSD | +0.0404% | 1h | 1.8750 | +0.122% | $481K | $1.1M | 50x | as long as short |
| Hyperliquid RENDER | +0.0842% | 1h | 1.8761 | +0.182% | $4.3M | $3.4M | 5x | as long as short |
MEXC RENDER_USDT
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
BloFin RENDER-USDT
Kraken Futures PF_RENDERUSD
Hyperliquid RENDER