Funding you earn now, next payment 22:00 UTC−0.0269%/8h= −29.4% APRnext payment −$0.34 per $10,000 · paid last 24h −0.082%
Price spread now: Kraken Futures against Hyperliquid+0.040%7-day average −0.101% · you sell dearer than you buy
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$610.609% of the position
Funding, last 7 days+0.210%+$21 on $10k
+Price spread, last 3 days (all we have)−0.534%−$53 · spread now +0.040%, 7d avg −0.101%
=Together, before fees−0.325%+ Points / potential airdropHyperliquid: Season 2 · farm board−$32 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kraken Futures is 0.141% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.040% now, against its 7-day average of −0.101%): +$14 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 42 hours. Mind the row above: over the last 7 days funding on this pair paid +0.210%, 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 | 1.8645 | 0.1014 | pay 0.0127% / 1h | 41m 55s | $4.2M | $4.3M | 5x |
| Short | Kraken Futures PF_RENDERUSD | 1.8653 | 0.0745 | get 0.0093% / 1h | 41m 55s | $487K | $1.1M | 50x |
Hyperliquid RENDER
Kraken Futures PF_RENDERUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$56.41
- Price spread: +0.040% → −0.101%
- $14.12
- Slippage, 4 orders
- −$41.85
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$103.14
- Costs to cover
- 0.609%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 10 min ago; Kraken Futures: live order book, 1 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, 10 min ago | 3.22 bp | 11.9 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 1 min ago | 11.79 bp | 19.7 bp −$20 | 43.5 bp −$435 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective RENDER/USDC PERP | −0.0440% | 1h | 1.8630 | −0.080% | $6K | $141K | 12x | as long as short |
| Variational Omni RENDER | −0.0246% | 4h | 1.8580 | −0.348% | $223K | $255K | — | as long as short |
| Bybit RENDERUSDT | −0.0208% | 4h | 1.8583 | −0.333% | $12.1M | $14.6M | 50x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | −0.0018% | 1h | 1.8636 | −0.048% | $11K | $33K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8629 | −0.083% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8639 | −0.032% | $271K | $189K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8611 | −0.180% | $12.4M | $49.1M | 75x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8620 | −0.134% | $3.2M | $8.8M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8612 | −0.177% | $545K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8610 | −0.188% | $12.1M | $10.2M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
Bybit RENDERUSDT
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
Aster RENDERUSDT
Binance RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8610 | −0.188% | $5.2M | $13.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8617 | −0.150% | $10.0M | $10.4M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8610 | −0.188% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8618 | −0.145% | $44K | $265K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8610 | −0.188% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8619 | −0.138% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8615 | −0.161% | $40K | $336K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8590 | −0.295% | $602K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0341% / S −0.0785% | 1h | 1.8640 | −0.028% | $14K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8570 | −0.402% | $153K | $68K | 50x | as long as short |
| Kraken Futures PF_RENDERUSDshort | +0.0745% | 1h | 1.8653 | +0.040% | $487K | $1.1M | 50x | |
| Hyperliquid RENDERlong | +0.1014% | 1h | 1.8645 | long leg | $4.2M | $4.3M | 5x |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX