Funding you earn now, next payment 01:00 UTC+0.0845%/8h= +92.5% APRpaid last 24h +0.177%
Price spread now: Hyperliquid against Bitget+0.230%7-day average +0.095% · you sell dearer than you buy
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$620.617% of the position
Funding, last 7 days+0.367%+$37 on $10k
+Price spread, last 7 days−0.247%−$25 · spread now +0.230%, 7d avg +0.095%
=Together, before fees+0.120%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Hyperliquid is 0.134% dearer against Bitget than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.095%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.367% in total (about 19.1% 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 | Bitget RENDERUSDT | 1.8730 | 0.0100 | pay 0.0050% / 4h | 3h 49m | $10.1M | $10.4M | 50x |
| Short | Hyperliquid RENDER | 1.8773 | 0.0945 | get 0.0118% / 1h | 49m 26s | $4.4M | $3.4M | 5x |
Bitget RENDERUSDT
Hyperliquid RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Bitget. 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
- $177.43
- Price spread: +0.230% → +0.095%
- $13.44
- Slippage, 4 orders
- −$40.72
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $129.15
- Costs to cover
- 0.617%
- Break-even
- 1.9 days
Slippage from Bitget: live order book, 4 min ago; Hyperliquid: live order book, 2 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 Bitget live order book, 4 min ago | 0.53 bp | 17.8 bp −$18 | 23.4 bp −$234 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 2 min ago | 3.18 bp | 15.0 bp −$15 | 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 | −0.0213% | 1h | 1.8790 | +0.320% | $6K | $188K | 12x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | −0.0125% | 1h | 1.8666 | −0.342% | $11K | $30K | 25x | as long as short |
| Variational Omni RENDER | −0.0067% | 4h | 1.8782 | +0.278% | $232K | $293K | — | as long as short |
| Coinbase International RENDER-PERP-INTX | −0.0040% | 1h | 1.8810 | +0.427% | $155K | $64K | 50x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8717 | −0.069% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8731 | +0.006% | $270K | $164K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8730 | 0.000% | $12.5M | $47.0M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8720 | −0.053% | $12.1M | $13.3M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8750 | +0.107% | $3.2M | $8.4M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8717 | −0.069% | $533K | $1.0M | 50x | as long as short |
Injective RENDER/USDC PERP
Deribit RENDER_USDC-PERPETUAL
Variational Omni RENDER
Coinbase International RENDER-PERP-INTX
dYdX RENDER-USD
Aster RENDERUSDT
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8720 | −0.053% | $12.1M | $10.5M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8710 | −0.107% | $5.2M | $12.2M | 50x | as long as short |
| Bitget RENDERUSDTlong | +0.0100% | 4h | 1.8730 | long leg | $10.1M | $10.4M | 50x | |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8730 | 0.000% | — | $4.1M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8798 | +0.363% | $45K | $268K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8690 | −0.214% | $1.9M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8713 | −0.091% | $31K | $192K | 10x | as long as short |
| Phoenix RENDER | +0.0171% | 1h | 1.8702 | −0.149% | $46K | $324K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8790 | +0.320% | $597K | $1.3M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0366% / S −0.0912% | 1h | 1.8731 | +0.003% | $16K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0405% | 1h | 1.8703 | −0.143% | $478K | $1.1M | 50x | as long as short |
| Hyperliquid RENDERshort | +0.0945% | 1h | 1.8773 | +0.230% | $4.4M | $3.4M | 5x |
MEXC RENDER_USDT
KuCoin RENDERUSDTM
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD