Funding you earn now, next payment 05:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.005%
Price spread now: OKX against Phoenix+0.842%86s7-day average −0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs−$46as 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−$590.587% of the position
Funding, last 7 days+0.130%+$13 on $10k
+Price spread, last 4 days (all we have)−1.020%−$102 · spread now +0.842%, 7d avg −0.048%
=The price spread pays, funding is against you. OKX is 0.889% dearer against Phoenix than usual: you sell high and buy low (spread +0.842% now, against its 7-day average of −0.048%): +$89 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 18 days. Mind the row above: over the last 7 days funding on this pair paid +0.130%, so the current rate has only just turned against you. The two prices were read 86 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 | 1.7939 | 0.0264 | pay 0.0033% / 1h | 19m 58s | $46K | $334K | 5x |
| Short | OKX RENDER-USDT-SWAP | 1.8090 | 0.0100 | get 0.0050% / 4h | 2h 19m | $3.1M | $8.3M | 20x |
Phoenix RENDER
OKX RENDER-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$34.51
- Price spread: +0.842% → −0.048%
- $88.94
- Slippage, 4 orders
- −$41.72
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$4.29
- Costs to cover
- 0.587%
- Break-even
- from the start
Slippage from Phoenix: live order book, 27 min ago; OKX: live order book, 3 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, 27 min ago | 1.10 bp | 13.5 bp −$13 | 53.4 bp −$534 | doesn't fit | doesn't fit |
| Sell OKX live order book, 3 min ago | 2.79 bp | 12.2 bp −$12 | 59.0 bp −$590 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX RENDER-USD | +0.0013% | 1h | 1.8037 | +0.545% | $18K | $32K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8081 | +0.790% | $277K | $177K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8081 | +0.789% | $11.8M | $47.7M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8075 | +0.758% | $11.8M | $13.4M | 50x | as long as short |
| OKX RENDER-USDT-SWAPshort | +0.0100% | 4h | 1.8090 | +0.842% | $3.1M | $8.3M | 20x | |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8077 | +0.769% | $520K | $1.3M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8070 | +0.730% | $10.7M | $11.3M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8080 | +0.786% | $4.8M | $10.9M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8095 | +0.870% | $9.8M | $10.8M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8080 | +0.786% | — | $5.2M | — | as long as short |
dYdX RENDER-USD
Aster RENDERUSDT
Binance RENDERUSDT
Bybit RENDERUSDT
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni RENDER | +0.0100% | 4h | 1.7992 | +0.295% | $255K | $314K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.7918 | −0.117% | $39K | $250K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8070 | +0.730% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8072 | +0.740% | $26K | $194K | 10x | as long as short |
| Injective RENDER/USDC PERP | +0.0235% | 1h | 1.7920 | −0.106% | $11K | $194K | 12x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | +0.0248% | 1h | 1.8069 | +0.725% | $18K | $37K | 25x | as long as short |
| Phoenix RENDERlong | +0.0264% | 1h | 1.7939 | long leg | $46K | $334K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8040 | +0.563% | $603K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0361% / S −0.0906% | 1h | 1.8060 | +0.677% | $15K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0584% | 1h | 1.8080 | +0.786% | $150K | $60K | 50x | as long as short |
| Hyperliquid RENDER | +0.0629% | 1h | 1.8101 | +0.903% | $4.0M | $3.3M | 5x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1240% | 1h | 1.8087 | +0.824% | $422K | $1.3M | 50x | as long as short |
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Injective RENDER/USDC PERP
Deribit RENDER_USDC-PERPETUAL
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Hyperliquid RENDER
Kraken Futures PF_RENDERUSD