Funding you earn now, next payment 03:00 UTC+0.0292%/8h= +32.0% APRnext payment +$0.36 per $10,000 · paid last 24h +0.177%
Price spread now: Hyperliquid against Phoenix−0.265%7-day average +0.111% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.640%+$64 on $10k
+Price spread, last 4 days (all we have)+0.114%+$11 · spread now −0.265%, 7d avg +0.111%
=Together, before fees+0.754%+ Points / potential airdropHyperliquid: Season 2 · farm board+$75 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.376% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.265% now, against its 7-day average of +0.111%). If the spread goes back, that is −$38 on $10k: about 4.3 days of funding at the current rate (+$9 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix RENDER | 1.8485 | 0.0299 | pay 0.0037% / 1h | 8m 55s | $47K | $315K | 5x |
| Short | Hyperliquid RENDER | 1.8436 | 0.0591 | get 0.0074% / 1h | 8m 55s | $4.1M | $3.3M | 5x |
Phoenix RENDER
Hyperliquid RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $61.29
- Price spread: −0.265% → +0.111%
- −$37.59
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $7.7
- Costs to cover
- 0.160%
- Break-even
- 6.1 days
Slippage unknown: Phoenix: live order book, 46 min ago; Hyperliquid: live order book, 3 min ago. Net counts fees only.
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, 46 min ago | 1.07 bp | 13.5 bp −$14 | 53.3 bp −$533 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 3 min ago | 1.08 bp | 9.0 bp −$9 | 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 | −0.0223% | 1h | 1.8530 | +0.243% | $12K | $194K | 12x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8424 | −0.330% | $12K | $31K | 25x | as long as short |
| dYdX RENDER-USD | +0.0062% | 1h | 1.8407 | −0.425% | $19K | $23K | 5x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8419 | −0.356% | $12.1M | $47.4M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8406 | −0.427% | $11.8M | $13.3M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8420 | −0.352% | $3.1M | $8.1M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8414 | −0.384% | $545K | $1.3M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8390 | −0.514% | $12.5M | $11.3M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8430 | −0.298% | $4.9M | $11.6M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8410 | −0.406% | $10.0M | $10.9M | 50x | as long as short |
Injective RENDER/USDC PERP
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
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 | 1.8420 | −0.352% | — | $3.5M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8487 | +0.009% | $263K | $313K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8482 | −0.016% | $41K | $251K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8410 | −0.406% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8412 | −0.393% | $30K | $205K | 10x | as long as short |
| Aster RENDERUSDT | +0.0173% | 4h | 1.8421 | −0.346% | $269K | $153K | 20x | as long as short |
| Phoenix RENDERlong | +0.0299% | 1h | 1.8485 | long leg | $47K | $315K | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8430 | −0.298% | $572K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0364% / S −0.0907% | 1h | 1.8420 | −0.352% | $15K | — | 100x | as long as short |
| Hyperliquid RENDERshort | +0.0591% | 1h | 1.8436 | −0.265% | $4.1M | $3.3M | 5x | |
| Coinbase International RENDER-PERP-INTX | +0.0720% | 1h | 1.8510 | +0.135% | $153K | $59K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1275% | 1h | 1.8442 | −0.234% | $480K | $1.1M | 50x | as long as short |
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Aster RENDERUSDT
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD