Settings8H · net · $10k
Funding arb · Price arb /

RENDER

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC+0.0203%/8h= +22.2% APRpaid last 24h +0.174%
Price spread now: Hyperliquid against Aster+0.044%7-day average +0.104% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)+0.504%+$50 on $10k
Price spread, last 4 days (all we have)+0.132%+$13 · spread now +0.044%, 7d avg +0.104%
Together, before fees+0.636%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board+$64 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.060% cheaper against Aster than usual: you would sell low and buy high (spread +0.044% now, against its 7-day average of +0.104%). If the spread goes back, that is −$6 on $10k: about 24 hours of funding at the current rate (+$6 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAster RENDERUSDT1.86540.0320pay 0.0160% / 4h57m 16s$270K$144K20x
ShortHyperliquid RENDER1.86620.0522get 0.0065% / 1h57m 16s$4.2M$3.2M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Aster. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$42.54
Price spread: +0.044% → +0.104%
−$6
Slippage, 4 orders
no order book: not counted
Fee Aster: 4 bp × 2 orders
−$8
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
$19.53
Costs to cover
0.170%
Break-even
3.8 days
Slippage unknown: Aster: live order book, 64 min ago; Hyperliquid: live order book, 4 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aster live order book, 64 min ago10.81 bp26.4 bp −$26doesn't fitdoesn't fitdoesn't fit
Sell Hyperliquid live order book, 4 min ago2.14 bp9.6 bp −$10doesn't fitdoesn't fitdoesn't fit

RENDER on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective RENDER/USDC PERP−0.0223%1h1.8600−0.288%$6K$188K12xas long as short
dYdX RENDER-USD0.0000%1h1.8577−0.412%$19K$21K5xas long as short
Deribit RENDER_USDC-PERPETUAL0.0000%1h1.8649−0.026%$11K$30K25xas long as short
Binance RENDERUSDT+0.0100%4h1.8670+0.085%$12.5M$47.0M75xas long as short
Bybit RENDERUSDT+0.0100%4h1.8643−0.058%$11.9M$13.2M50xas long as short
OKX RENDER-USDT-SWAP+0.0100%4h1.8670+0.087%$3.1M$8.3M20xas long as short
Gate RENDER_USDT+0.0100%4h1.8606−0.256%$568K$1.2M50xas long as short
MEXC RENDER_USDT+0.0100%4h1.8650−0.020%$13.1M$11.2M200xas long as short
KuCoin RENDERUSDTM+0.0100%4h1.8660+0.033%$5.1M$11.8M50xas long as short
Bitget RENDERUSDT+0.0100%4h1.8680+0.141%$10.2M$10.8M50xas long as short
Show all 22 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX RENDER-USDT+0.0100%4h1.8640−0.074%$3.6Mas long as short
Variational Omni RENDER+0.0100%4h1.8641−0.068%$265K$313Kas long as short
ApeX Omni RENDERUSDT+0.0100%1h1.8674+0.108%$42K$253K50xas long as short
Phemex RENDERUSDT+0.0100%8h1.8650−0.020%$1.9M$4.0M50xas long as short
Extended RENDER-USD+0.0104%1h1.8645−0.045%$27K$200K10xas long as short
Phoenix RENDER+0.0259%1h1.8608−0.245%$48K$315K5xas long as short
Aster RENDERUSDTlong+0.0320%4h1.8654long leg$270K$144K20x
BloFin RENDER-USDT+0.0340%4h1.8610−0.235%$592K$1.2M90xas long as short
GMX RENDER/USD [ETH-USDC]L +0.0367% / S −0.0912%1h1.8633−0.109%$16K100xas long as short
Hyperliquid RENDERshort+0.0522%1h1.8662+0.044%$4.2M$3.2M5x
Coinbase International RENDER-PERP-INTX+0.0720%1h1.8900+1.320%$155K$57K50xas long as short
Kraken Futures PF_RENDERUSD+0.1259%1h1.8670+0.085%$485K$1.1M50xas long as short