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: Hyperliquid against Kraken Futures−0.040%7-day average +0.101% · you buy dearer than you sell
Net, funding: paid 7d − costs−$82as in the Funding arb table
Net, price: spread back to 7d avg − costs−$75as 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
Funding pays, the price is against you. Hyperliquid is 0.141% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.040% now, against its 7-day average of +0.101%). If the spread goes back, that is −$14 on $10k: about 42 hours of funding at the current rate (+$8 a day). Mind the row above: over the last 7 days funding on this pair cost −0.210%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_RENDERUSD | 1.8653 | 0.0745 | pay 0.0093% / 1h | 41m 54s | $487K | $1.1M | 50x |
| Short | Hyperliquid RENDER | 1.8645 | 0.1014 | get 0.0127% / 1h | 41m 54s | $4.2M | $4.3M | 5x |
Kraken Futures PF_RENDERUSD
Hyperliquid RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Kraken Futures. 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 Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$18.56
- Costs to cover
- 0.609%
- Break-even
- 9.3 days
Slippage from Kraken Futures: live order book, 1 min ago; Hyperliquid: live order book, 10 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 Kraken Futures live order book, 1 min ago | 11.79 bp | 16.9 bp −$17 | 44.3 bp −$443 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 10 min ago | 3.22 bp | 12.4 bp −$12 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective RENDER/USDC PERP | −0.0440% | 1h | 1.8630 | −0.121% | $6K | $141K | 12x | as long as short |
| Variational Omni RENDER | −0.0246% | 4h | 1.8580 | −0.388% | $223K | $255K | — | as long as short |
| Bybit RENDERUSDT | −0.0208% | 4h | 1.8583 | −0.373% | $12.1M | $14.6M | 50x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | −0.0018% | 1h | 1.8636 | −0.089% | $11K | $33K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8629 | −0.124% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8639 | −0.072% | $271K | $189K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8611 | −0.221% | $12.4M | $49.1M | 75x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8620 | −0.174% | $3.2M | $8.8M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8612 | −0.217% | $545K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8610 | −0.228% | $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 | −0.228% | $5.2M | $13.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8617 | −0.190% | $10.0M | $10.4M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8610 | −0.228% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8618 | −0.185% | $44K | $265K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8610 | −0.228% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8619 | −0.179% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8615 | −0.201% | $40K | $336K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8590 | −0.335% | $602K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0341% / S −0.0785% | 1h | 1.8640 | −0.068% | $14K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8570 | −0.442% | $153K | $68K | 50x | as long as short |
| Kraken Futures PF_RENDERUSDlong | +0.0745% | 1h | 1.8653 | long leg | $487K | $1.1M | 50x | |
| Hyperliquid RENDERshort | +0.1014% | 1h | 1.8645 | −0.040% | $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