Funding you earn now, next payment 22:00 UTC−0.0213%/8h= −23.3% APRpaid last 24h −0.119%
Price spread now: Binance against Hyperliquid−0.180%7-day average −0.125% · you buy dearer than you sell
Net, funding: paid 7d − costs−$110as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$570.566% of the position
Funding, last 7 days−0.537%−$54 on $10k
+Price spread, last 7 days+0.167%+$17 · spread now −0.180%, 7d avg −0.125%
=Together, before fees−0.370%+ Points / potential airdropHyperliquid: Season 2 · farm board−$37 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Binance is 0.055% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.125%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid RENDER | 1.8313 | 0.0313 | pay 0.0039% / 1h | 19m 35s | $4.3M | $1.5M | 5x |
| Short | Binance RENDERUSDT | 1.8280 | 0.0100 | get 0.0050% / 4h | 2h 19m | $11.7M | $29.4M | 75x |
Hyperliquid RENDER
Binance RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$44.65
- Price spread: −0.180% → −0.125%
- −$5.48
- Slippage, 4 orders
- −$37.59
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$106.72
- Costs to cover
- 0.566%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 5 min ago; Binance: live order book, 15 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, 5 min ago | 1.64 bp | 15.3 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 15 min ago | 2.74 bp | 16.3 bp −$16 | 29.8 bp −$298 | 130.3 bp −$13.0K | doesn't fit |
RENDER on 22 exchanges
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 | −0.0039% | 1h | 1.8230 | −0.453% | $10K | $160K | 12x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8270 | −0.235% | $28K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8300 | −0.071% | $26K | $20K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8306 | −0.038% | $263K | $124K | 20x | as long as short |
| Binance RENDERUSDTshort | +0.0100% | 4h | 1.8280 | −0.180% | $11.7M | $29.4M | 75x | |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8260 | −0.289% | $11.8M | $8.0M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8290 | −0.126% | $3.2M | $5.5M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8278 | −0.191% | $508K | $578K | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8290 | −0.126% | $10.0M | $8.0M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8300 | −0.071% | $4.7M | $4.6M | 50x | as long as short |
Injective RENDER/USDC PERP
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTMShow all 22 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8277 | −0.197% | $9.8M | $7.5M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8270 | −0.235% | — | $4.3M | — | as long as short |
| Variational Omni RENDER | +0.0100% | 4h | 1.8276 | −0.204% | $251K | $108K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8299 | −0.076% | $37K | $202K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8290 | −0.126% | $1.9M | $2.5M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8279 | −0.187% | $27K | $265K | 10x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0136% | 1h | 1.8340 | +0.147% | $147K | $30K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0208% | 1h | 1.8320 | +0.037% | $426K | $1.2M | 50x | as long as short |
| Hyperliquid RENDERlong | +0.0313% | 1h | 1.8313 | long leg | $4.3M | $1.5M | 5x | |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8330 | +0.093% | $610K | $702K | 90x | as long as short |
| Phoenix RENDER | +0.0350% | 1h | 1.8322 | +0.049% | $37K | $247K | 5x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0354% / S −0.0862% | 1h | 1.8297 | −0.088% | $15K | — | 100x | as long as short |
Bitget RENDERUSDT
BingX RENDER-USDT
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD
BloFin RENDER-USDT
Phoenix RENDER
GMX RENDER/USD [ETH-USDC]