Funding you earn now, next payment 00:00 UTC−0.1306%/8h= −143.0% APRpaid last 24h −0.174%
Price spread now: MEXC against Hyperliquid−0.203%7-day average −0.125% · you buy dearer than you sell
Net, funding: paid 7d − costs−$80as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$410.409% of the position
Funding, last 7 days−0.392%−$39 on $10k
+Price spread, last 7 days+0.155%+$15 · spread now −0.203%, 7d avg −0.125%
=Together, before fees−0.237%+ Points / potential airdropHyperliquid: Season 2 · farm board−$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$39 a day on $10k at the current rate, and MEXC is 0.078% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.125%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.392% in total (about -20.4% 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 | 1.8728 | 0.1406 | pay 0.0176% / 1h | 8m 04s | $4.3M | $3.4M | 5x |
| Short | MEXC RENDER_USDT | 1.8690 | 0.0100 | get 0.0050% / 4h | 8m 04s | $12.1M | $10.7M | 200x |
Hyperliquid RENDER
MEXC RENDER_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$274.22
- Price spread: −0.203% → −0.125%
- −$7.8
- Slippage, 4 orders
- −$31.92
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$322.95
- Costs to cover
- 0.409%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 4 min ago; MEXC: live order book, 5 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, 4 min ago | 2.68 bp | 12.0 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 5 min ago | 2.69 bp | 2.7 bp −$3 | 6.1 bp −$61 | 47.4 bp −$4,736 | 209.3 bp −$104.7K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni RENDER | −0.0085% | 4h | 1.8642 | −0.458% | $225K | $289K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8707 | −0.113% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8680 | −0.256% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8690 | −0.203% | $270K | $164K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8685 | −0.229% | $12.5M | $46.9M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8671 | −0.304% | $12.1M | $13.4M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8690 | −0.203% | $3.2M | $8.3M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8680 | −0.256% | $539K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDTshort | +0.0100% | 4h | 1.8690 | −0.203% | $12.1M | $10.7M | 200x | |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8660 | −0.363% | $5.2M | $12.3M | 50x | as long as short |
Variational Omni RENDER
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
KuCoin RENDERUSDTMShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8684 | −0.235% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8690 | −0.203% | — | $4.1M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8586 | −0.758% | $43K | $266K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8670 | −0.310% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8676 | −0.276% | $31K | $178K | 10x | as long as short |
| Injective RENDER/USDC PERP | +0.0110% | 1h | 1.8670 | −0.310% | $6K | $187K | 12x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8631 | −0.518% | $47K | $333K | 5x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0256% | 1h | 1.8440 | −1.538% | $152K | $64K | 50x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8730 | +0.011% | $595K | $1.3M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0365% / S −0.0912% | 1h | 1.8681 | −0.251% | $16K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0592% | 1h | 1.8714 | −0.074% | $480K | $1.1M | 50x | as long as short |
| Hyperliquid RENDERlong | +0.1406% | 1h | 1.8728 | long leg | $4.3M | $3.4M | 5x |
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Injective RENDER/USDC PERP
Phoenix RENDER
Coinbase International RENDER-PERP-INTX
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD