Spread before costs (cost unknown: a leg has no order-book sample)+0.185%
7d average—if it closes, per $10,000$19funding while held, a day+$0.55
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX RENDER/USD [ETH-USDC] | 1.8191 | L +0.0335% / S −0.0765% | pay 0.0042% / 1h | 1m 04s | $13K | — | 100x |
| Short | Hyperliquid RENDER | 1.8225 | 0.0354 | get 0.0044% / 1h | 1m 04s | $3.9M | $4.4M | 5x |
GMX RENDER/USD [ETH-USDC]
Hyperliquid RENDERPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $18.52
- Funding while held
- $0.55
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$1.93
- Spread needed to break even
- 0.210%
Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 2 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0018%
- Per $10,000 a day
- +$0.55
- Average in range /8h
- —
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 GMX no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 2 min ago | 1.65 bp | 14.7 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
RENDER price on every exchange
against the cheapest. Click to use as the short leg.Injective1.7980cheapestdYdX1.8165+1.029%Phemex1.8170+1.057%Bybit1.8171+1.062%Binance1.8180+1.112%OKX1.8180+1.112%KuCoin1.8180+1.112%ApeX Omni1.8182+1.123%Gate1.8183+1.129%Phoenix1.8184+1.135%Extended1.8187+1.152%MEXC1.8190+1.168%BingX1.8190+1.168%Variational Omni1.8191+1.171%
Injective
dYdX
Phemex
Bybit
Binance
OKX
KuCoin
ApeX Omni
Gate
Phoenix
Extended
MEXC
BingX
Variational OmniGMX1.8191+1.175%
Bitget1.8192+1.179%Deribit1.8194+1.190%BloFin1.8210+1.279%Aster1.8211+1.284%Kraken Futures1.8219+1.331%
Bitget
Deribit
BloFin
Aster
Kraken FuturesHyperliquid1.8225+1.363%
Coinbase International1.8280+1.669%
Coinbase InternationalRENDER on 22 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective RENDER/USDC PERP | −1.162% | −0.0103% | 1h | $7K | $141K | 12x | as long as short |
| dYdX RENDER-USD | −0.145% | 0.0000% | 1h | $18K | $26K | 5x | as long as short |
| Phemex RENDERUSDT | −0.117% | +0.0100% | 8h | $2.0M | $4.4M | 50x | as long as short |
| Bybit RENDERUSDT | −0.112% | +0.0100% | 4h | $12.0M | $19.0M | 50x | as long as short |
| Binance RENDERUSDT | −0.062% | +0.0100% | 4h | $11.8M | $60.2M | 75x | as long as short |
| OKX RENDER-USDT-SWAP | −0.062% | +0.0100% | 4h | $3.1M | $12.0M | 20x | as long as short |
| KuCoin RENDERUSDTM | −0.062% | +0.0100% | 4h | $4.6M | $12.3M | 50x | as long as short |
| ApeX Omni RENDERUSDT | −0.051% | +0.0100% | 1h | $49K | $258K | 50x | as long as short |
| Gate RENDER_USDT | −0.046% | +0.0100% | 4h | $511K | $1.3M | 50x | as long as short |
| Phoenix RENDER | −0.040% | 0.0000% | 1h | $39K | $466K | 5x | as long as short |
Show all 22 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Extended RENDER-USD | −0.023% | +0.0104% | 1h | $30K | $206K | 10x | as long as short |
| MEXC RENDER_USDT | −0.007% | +0.0100% | 4h | $11.8M | $11.3M | 200x | as long as short |
| BingX RENDER-USDT | −0.007% | +0.0100% | 4h | — | $4.3M | — | as long as short |
| Variational Omni RENDER | −0.004% | −0.0089% | 4h | $227K | $110K | — | as long as short |
| GMX RENDER/USD [ETH-USDC]long | 0.000% | L +0.0335% / S −0.0765% | 1h | $13K | — | 100x | |
| Bitget RENDERUSDT | +0.004% | +0.0100% | 4h | $9.8M | $11.9M | 50x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | +0.015% | −0.0244% | 1h | $14K | $123K | 25x | as long as short |
| BloFin RENDER-USDT | +0.103% | +0.0340% | 4h | $592K | $1.5M | 90x | as long as short |
| Aster RENDERUSDT | +0.108% | +0.0100% | 4h | $261K | $220K | 20x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.154% | +0.0485% | 1h | $483K | $1.5M | 50x | as long as short |
| Hyperliquid RENDERshort | +0.185% | +0.0354% | 1h | $3.9M | $4.4M | 5x | |
| Coinbase International RENDER-PERP-INTX | +0.488% | +0.0128% | 1h | $159K | $80K | 50x | as long as short |