Funding you earn now, next payment 21:00 UTC−0.1216%/8h= −133.2% APRpaid last 24h −0.163%
Price spread now: Bitget against Hyperliquid−0.222%7-day average −0.092% · you buy dearer than you sell
Net, funding: paid 7d − costs−$89as in the Funding arb table
Net, price: spread back to 7d avg − costs−$70as in the Price arb table
costs, in and out, $10k−$570.570% of the position
Funding, last 7 days−0.319%−$32 on $10k
+Price spread, last 7 days+0.142%+$14 · spread now −0.222%, 7d avg −0.092%
=Together, before fees−0.177%+ Points / potential airdropHyperliquid: Season 2 · farm board−$18 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$36 a day on $10k at the current rate, and Bitget is 0.129% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.092%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.319% in total (about -16.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid RENDER | 1.8497 | 0.1316 | pay 0.0165% / 1h | 29m 43s | $4.2M | $4.3M | 5x |
| Short | Bitget RENDERUSDT | 1.8456 | 0.0100 | get 0.0050% / 4h | 3h 29m | $9.9M | $10.3M | 50x |
Hyperliquid RENDER
Bitget RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$255.44
- Price spread: −0.222% → −0.092%
- −$12.92
- Slippage, 4 orders
- −$35.97
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$325.33
- Costs to cover
- 0.570%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 2 min ago; Bitget: live order book, 4 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, 2 min ago | 1.61 bp | 12.6 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 4 min ago | 3.78 bp | 17.6 bp −$18 | 56.5 bp −$565 | 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 | −0.0120% | 1h | 1.8540 | +0.232% | $6K | $92K | 12x | as long as short |
| Variational Omni RENDER | −0.0078% | 4h | 1.8515 | +0.096% | $222K | $254K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8450 | −0.254% | $19K | $22K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8466 | −0.168% | $11K | $57K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8502 | +0.029% | $274K | $190K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8450 | −0.254% | $12.1M | $48.7M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8420 | −0.416% | $12.0M | $14.6M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8450 | −0.254% | $3.2M | $8.6M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8468 | −0.157% | $524K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8480 | −0.092% | $11.2M | $9.9M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Binance RENDERUSDT
Bybit 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 | 1.8470 | −0.146% | $5.2M | $13.3M | 50x | as long as short |
| Bitget RENDERUSDTshort | +0.0100% | 4h | 1.8456 | −0.222% | $9.9M | $10.3M | 50x | |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8470 | −0.146% | — | $4.2M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8544 | +0.254% | $44K | $259K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8460 | −0.200% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8477 | −0.107% | $31K | $179K | 10x | as long as short |
| Phoenix RENDER | +0.0220% | 1h | 1.8456 | −0.222% | $40K | $335K | 5x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0337% / S −0.0785% | 1h | 1.8474 | −0.124% | $14K | — | 100x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8530 | +0.178% | $578K | $1.4M | 90x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0440% | 1h | 1.8580 | +0.449% | $156K | $61K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1002% | 1h | 1.8500 | +0.018% | $481K | $1.1M | 50x | as long as short |
| Hyperliquid RENDERlong | +0.1316% | 1h | 1.8497 | long leg | $4.2M | $4.3M | 5x |
KuCoin RENDERUSDTM
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
GMX RENDER/USD [ETH-USDC]
BloFin RENDER-USDT
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD