Funding you earn now, next payment 05:00 UTC−0.0044%/8h= −4.8% APRnext payment −$0.06 per $10,000 · paid last 24h −0.100%
Price spread now: Coinbase International against Hyperliquid+0.685%7-day average +0.120% · you sell dearer than you buy
Net, funding: paid 7d − costs−$134as in the Funding arb table
Net, price: spread back to 7d avg − costs−$90as in the Price arb table
costs, in and out, $10k−$1461.464% of the position
Funding, last 7 days+0.125%+$12 on $10k
+Price spread, last 4 days (all we have)−0.577%−$58 · spread now +0.685%, 7d avg +0.120%
=Together, before fees−0.452%+ Points / potential airdropHyperliquid: Season 2 · farm board−$45 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.565% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.685% now, against its 7-day average of +0.120%): +$57 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 43 days. Mind the row above: over the last 7 days funding on this pair paid +0.125%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid RENDER | 1.7957 | 0.0628 | pay 0.0079% / 1h | 32m 57s | $4.0M | $3.3M | 5x |
| Short | Coinbase International RENDER-PERP-INTX | 1.8080 | 0.0584 | get 0.0073% / 1h | 32m 57s | $150K | $60K | 50x |
Hyperliquid RENDER
Coinbase International RENDER-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Hyperliquid. 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
- −$9.28
- Price spread: +0.685% → +0.120%
- $56.54
- Slippage, 4 orders
- −$127.41
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$99.15
- Costs to cover
- 1.464%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; Coinbase International: live order book, 15 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 Hyperliquid live order book, 9 min ago | 2.78 bp | 14.0 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 15 min ago | 22.05 bp | 55.8 bp −$56 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.7927 | −0.167% | $18K | $37K | 25x | as long as short |
| dYdX RENDER-USD | +0.0020% | 1h | 1.7917 | −0.222% | $18K | $32K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.7970 | +0.074% | $267K | $175K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.7949 | −0.046% | $11.7M | $47.5M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.7930 | −0.150% | $11.5M | $13.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.7950 | −0.039% | $3.1M | $8.1M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.7934 | −0.128% | $520K | $1.3M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.7940 | −0.095% | $11.3M | $11.2M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.7960 | +0.017% | $4.8M | $11.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.7960 | +0.017% | $9.7M | $10.7M | 50x | as long as short |
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Aster RENDERUSDT
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 | 1.7950 | −0.039% | — | $5.2M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.7952 | −0.027% | $255K | $314K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8034 | +0.429% | $40K | $250K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.7960 | +0.017% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.7945 | −0.065% | $26K | $194K | 10x | as long as short |
| Injective RENDER/USDC PERP | +0.0235% | 1h | 1.7950 | −0.039% | $11K | $194K | 12x | as long as short |
| Phoenix RENDER | +0.0264% | 1h | 1.7932 | −0.139% | $46K | $334K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.7930 | −0.150% | $606K | $1.2M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0360% / S −0.0906% | 1h | 1.7924 | −0.184% | $15K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTXshort | +0.0584% | 1h | 1.8080 | +0.685% | $150K | $60K | 50x | |
| Hyperliquid RENDERlong | +0.0628% | 1h | 1.7957 | long leg | $4.0M | $3.3M | 5x | |
| Kraken Futures PF_RENDERUSD | +0.1248% | 1h | 1.7961 | +0.023% | $462K | $1.2M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Injective RENDER/USDC PERP
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD