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)−0.260%
7d average−0.179%if it closes, per $10,000$26funding while held, a day−$5.68
Long on PhoenixShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix RENDER1.79320.0090pay 0.0011% / 1h59m 28s$39K$338K5x
ShortVariational Omni RENDER1.7885−0.0099pay 0.0050% / 4h59m 28s$215K$256K—

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
−$25.96
Funding while held
−$5.68
Slippage, 4 orders
no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$38.64
Spread needed to break even
0.070%
Slippage unknown: Phoenix: live order book, 33 min ago; Variational Omni: RFQ quote, 36 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0189%
Per $10,000 a day
−$5.68
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, 33 min ago1.12 bp13.6 bp −$1453.3 bp −$533doesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 36 min ago5.53 bpdoesn't fit43.1 bp −$431doesn't fitdoesn't fit

RENDER price on every exchange

against the cheapest. Click to use as the short leg.
Injective1.7820cheapest
Variational Omni1.7885+0.367%
Bybit1.7892+0.404%ApeX Omni1.7902+0.460%KuCoin1.7910+0.505%Gate1.7916+0.539%OKX1.7920+0.561%MEXC1.7920+0.561%BloFin1.7920+0.561%dYdX1.7920+0.563%Binance1.7921+0.565%Bitget1.7922+0.572%Extended1.7928+0.607%BingX1.7930+0.617%Phemex1.7930+0.617%Aster1.7930+0.619%
Phoenix1.7932+0.629%
GMX1.7932+0.630%Deribit1.7935+0.645%Coinbase International1.7940+0.673%Kraken Futures1.7950+0.731%Hyperliquid1.7959+0.780%

RENDER on 22 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective RENDER/USDC PERP−0.625%−0.0124%1h$5K$97K12xas long as short
Variational Omni RENDERshort−0.260%−0.0099%4h$215K$256K—
Bybit RENDERUSDT−0.223%+0.0100%4h$11.7M$14.7M50xas long as short
ApeX Omni RENDERUSDT−0.167%+0.0100%1h$43K$261K50xas long as short
KuCoin RENDERUSDTM−0.123%+0.0100%4h$4.5M$13.0M50xas long as short
Gate RENDER_USDT−0.089%+0.0034%4h$519K$1.1M50xas long as short
OKX RENDER-USDT-SWAP−0.067%+0.0100%4h$3.1M$8.5M20xas long as short
MEXC RENDER_USDT−0.067%+0.0100%4h$10.6M$9.7M200xas long as short
BloFin RENDER-USDT−0.067%+0.0340%4h$577K$1.3M90xas long as short
dYdX RENDER-USD−0.065%0.0000%1h$18K$22K5xas long as short
Show all 22 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Binance RENDERUSDT−0.064%+0.0100%4h$11.7M$48.5M75xas long as short
Bitget RENDERUSDT−0.056%+0.0100%4h$9.5M$10.4M50xas long as short
Extended RENDER-USD−0.021%+0.0104%1h$30K$179K10xas long as short
BingX RENDER-USDT−0.011%+0.0100%4h—$4.2M—as long as short
Phemex RENDERUSDT−0.011%+0.0100%8h$1.9M$4.0M50xas long as short
Aster RENDERUSDT−0.010%+0.0100%4h$258K$177K20xas long as short
Phoenix RENDERlong0.000%+0.0090%1h$39K$338K5x
GMX RENDER/USD [ETH-USDC]+0.002%L +0.0334% / S −0.0778%1h$13K—100xas long as short
Deribit RENDER_USDC-PERPETUAL+0.017%0.0000%1h$10K$127K25xas long as short
Coinbase International RENDER-PERP-INTX+0.045%+0.0456%1h$154K$53K50xas long as short
Kraken Futures PF_RENDERUSD+0.102%−0.0277%1h$457K$1.1M50xas long as short
Hyperliquid RENDER+0.151%+0.1233%1h$3.9M$4.2M5xas long as short