data as of
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Price arb /

RENDER

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Spread before costs (cost unknown: a leg has no order-book sample)−1.944%
7d average−0.233%if it closes, per $10,000$194funding while held, a day−$75.26
Long on PhoenixShort on Injective
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix RENDER1.81630.0044pay 0.0006% / 1h50m 18s$39K$400K5x
ShortInjective RENDER/USDC PERP1.7810−0.2464pay 0.0308% / 1h50m 18s$6K$79K12x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$194.35
Funding while held
−$75.26
Slippage, 4 orders
no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
−$276.63
Spread needed to break even
0.070%
Slippage unknown: Phoenix: live order book, 54 min ago; Injective: live order book, 25 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.2509%
Per $10,000 a day
−$75.26
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 54 min ago1.11 bp13.5 bp −$1353.2 bp −$532doesn't fitdoesn't fit
Sell Injective live order book, 25 min ago131.32 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

RENDER price on every exchange

against the cheapest. Click to use as the short leg.
Injective1.7810cheapest
Phemex1.8110+1.684%Bybit1.8116+1.718%KuCoin1.8120+1.741%Bitget1.8125+1.769%OKX1.8130+1.797%ApeX Omni1.8130+1.797%Binance1.8132+1.809%Extended1.8137+1.834%BingX1.8140+1.853%BloFin1.8140+1.853%Variational Omni1.8141+1.857%Deribit1.8141+1.859%Gate1.8144+1.875%GMX1.8148+1.900%MEXC1.8150+1.909%Kraken Futures1.8162+1.978%
Phoenix1.8163+1.982%
Aster1.8167+2.005%dYdX1.8171+2.026%Coinbase International1.8190+2.134%Hyperliquid1.8199+2.185%

RENDER on 22 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective RENDER/USDC PERPshort−1.944%−0.2464%1h$6K$79K12x
Phemex RENDERUSDT−0.292%−0.0085%8h$1.9M$4.2M50xas long as short
Bybit RENDERUSDT−0.259%+0.0100%4h$11.9M$15.7M50xas long as short
KuCoin RENDERUSDTM−0.237%+0.0100%4h$4.7M$12.8M50xas long as short
Bitget RENDERUSDT−0.209%+0.0100%4h$9.7M$11.5M50xas long as short
OKX RENDER-USDT-SWAP−0.182%+0.0100%4h$3.1M$9.6M20xas long as short
ApeX Omni RENDERUSDT−0.182%+0.0100%1h$46K$258K50xas long as short
Binance RENDERUSDT−0.170%+0.0100%4h$11.9M$52.5M75xas long as short
Extended RENDER-USD−0.146%+0.0104%1h$31K$178K10xas long as short
BingX RENDER-USDT−0.127%+0.0100%4h—$4.1M—as long as short
Show all 22 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
BloFin RENDER-USDT−0.127%+0.0340%4h$587K$1.4M90xas long as short
Variational Omni RENDER−0.122%−0.0018%4h$295K$169K—as long as short
Deribit RENDER_USDC-PERPETUAL−0.121%0.0000%1h$10K$127K25xas long as short
Gate RENDER_USDT−0.105%+0.0052%4h$536K$1.1M50xas long as short
GMX RENDER/USD [ETH-USDC]−0.081%L +0.0336% / S −0.0778%1h$13K—100xas long as short
MEXC RENDER_USDT−0.072%+0.0100%4h$11.5M$10.8M200xas long as short
Kraken Futures PF_RENDERUSD−0.004%+0.0056%1h$471K$1.3M50xas long as short
Phoenix RENDERlong0.000%+0.0044%1h$39K$400K5x
Aster RENDERUSDT+0.023%+0.0100%4h$263K$191K20xas long as short
dYdX RENDER-USD+0.044%0.0000%1h$18K$22K5xas long as short
Coinbase International RENDER-PERP-INTX+0.149%+0.0408%1h$156K$57K50xas long as short
Hyperliquid RENDER+0.199%+0.1049%1h$4.0M$4.3M5xas long as short