Funding you earn now, next payment 00:00 UTC+0.0940%/8h= +102.9% APRnext payment +$1.17 per $10,000 · paid last 24h +0.129%
Price spread now: Hyperliquid against Coinbase International+0.090%7-day average −0.093% · you sell dearer than you buy
Net, funding: paid 7d − costs−$98as in the Funding arb table
Net, price: spread back to 7d avg − costs−$63as in the Price arb table
costs, in and out, $10k−$820.818% of the position
Funding, last 7 days−0.163%−$16 on $10k
+Price spread, last 3 days (all we have)−0.154%−$15 · spread now +0.090%, 7d avg −0.093%
=Together, before fees−0.317%+ Points / potential airdropHyperliquid: Season 2 · farm board−$32 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and Hyperliquid is 0.184% dearer against Coinbase International than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.093%. Mind the row above: over the last 7 days funding on this pair cost −0.163%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.163% in total (about -8.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.17 per $10,000. 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 | Coinbase International RENDER-PERP-INTX | 1.8790 | −0.0040 | get 0.0005% / 1h | 46m 32s | $155K | $65K | 50x |
| Short | Hyperliquid RENDER | 1.8807 | 0.0900 | get 0.0112% / 1h | 46m 32s | $4.4M | $3.4M | 5x |
Coinbase International RENDER-PERP-INTX
Hyperliquid RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Coinbase International. 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
- $197.39
- Price spread: +0.090% → −0.093%
- $18.37
- Slippage, 4 orders
- −$62.77
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $133.99
- Costs to cover
- 0.818%
- Break-even
- 2.2 days
Slippage from Coinbase International: live order book, 26 min ago; Hyperliquid: 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 Coinbase International live order book, 26 min ago | 13.43 bp | 29.1 bp −$29 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 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 | 1.8760 | −0.160% | $6K | $188K | 12x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | −0.0176% | 1h | 1.8764 | −0.138% | $11K | $30K | 25x | as long as short |
| Variational Omni RENDER | −0.0067% | 4h | 1.8782 | −0.042% | $232K | $293K | — | as long as short |
| Coinbase International RENDER-PERP-INTXlong | −0.0040% | 1h | 1.8790 | long leg | $155K | $65K | 50x | |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8777 | −0.069% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8771 | −0.102% | $271K | $164K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8770 | −0.106% | $12.5M | $47.1M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8738 | −0.277% | $12.1M | $13.4M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8770 | −0.106% | $3.2M | $8.4M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8789 | −0.005% | $535K | $1.0M | 50x | as long as short |
Injective RENDER/USDC PERP
Deribit RENDER_USDC-PERPETUAL
Variational Omni RENDER
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 | 1.8790 | 0.000% | $12.2M | $10.5M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8750 | −0.213% | $5.2M | $12.2M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8803 | +0.069% | $10.1M | $10.4M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8800 | +0.053% | — | $4.1M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8729 | −0.325% | $47K | $268K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8770 | −0.106% | $1.9M | $3.9M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8789 | −0.003% | $32K | $209K | 10x | as long as short |
| Phoenix RENDER | +0.0171% | 1h | 1.8747 | −0.229% | $48K | $324K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8760 | −0.160% | $599K | $1.3M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0366% / S −0.0912% | 1h | 1.8769 | −0.109% | $16K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0403% | 1h | 1.8795 | +0.026% | $479K | $1.1M | 50x | as long as short |
| Hyperliquid RENDERshort | +0.0900% | 1h | 1.8807 | +0.090% | $4.4M | $3.4M | 5x |
MEXC RENDER_USDT
KuCoin RENDERUSDTM
Bitget RENDERUSDT
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