Funding you earn now, next payment 21:00 UTC−0.1222%/8h= −133.8% APRpaid last 24h −0.171%
Price spread now: Bybit against Hyperliquid−0.459%7-day average −0.172% · you buy dearer than you sell
Net, funding: paid 7d − costs−$90as in the Funding arb table
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$590.586% of the position
Funding, last 7 days−0.319%−$32 on $10k
+Price spread, last 7 days+0.331%+$33 · spread now −0.459%, 7d avg −0.172%
=Together, before fees+0.012%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and Bybit is 0.288% cheaper against Hyperliquid than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of −0.172%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.319% in total (about -16.6% 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 | Hyperliquid RENDER | 1.8514 | 0.1322 | pay 0.0165% / 1h | 29m 51s | $4.3M | $4.3M | 5x |
| Short | Bybit RENDERUSDT | 1.8429 | 0.0100 | get 0.0050% / 4h | 3h 29m | $12.0M | $14.6M | 50x |
Hyperliquid RENDER
Bybit RENDERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$256.53
- Price spread: −0.459% → −0.172%
- −$28.75
- Slippage, 4 orders
- −$38.59
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$343.87
- Costs to cover
- 0.586%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 2 min ago; Bybit: live order book, 4 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, 2 min ago | 1.61 bp | 12.6 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 5.40 bp | 18.4 bp −$18 | 57.5 bp −$575 | 418.9 bp −$41.9K | 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 | −0.0120% | 1h | 1.8540 | +0.140% | $6K | $92K | 12x | as long as short |
| Variational Omni RENDER | −0.0078% | 4h | 1.8515 | +0.004% | $222K | $254K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8490 | −0.132% | $19K | $22K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8466 | −0.259% | $11K | $57K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8502 | −0.065% | $274K | $190K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8471 | −0.233% | $12.1M | $48.7M | 75x | as long as short |
| Bybit RENDERUSDTshort | +0.0100% | 4h | 1.8429 | −0.459% | $12.0M | $14.6M | 50x | |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8480 | −0.184% | $3.2M | $8.7M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8465 | −0.265% | $526K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8480 | −0.184% | $11.2M | $9.9M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Binance RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8470 | −0.238% | $5.2M | $13.3M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8479 | −0.189% | $9.9M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8470 | −0.238% | — | $4.2M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8544 | +0.162% | $44K | $259K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8460 | −0.292% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8477 | −0.198% | $31K | $179K | 10x | as long as short |
| Phoenix RENDER | +0.0220% | 1h | 1.8456 | −0.313% | $40K | $335K | 5x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0337% / S −0.0785% | 1h | 1.8474 | −0.216% | $14K | — | 100x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8530 | +0.086% | $578K | $1.4M | 90x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0440% | 1h | 1.8580 | +0.356% | $156K | $61K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.1002% | 1h | 1.8500 | −0.074% | $481K | $1.1M | 50x | as long as short |
| Hyperliquid RENDERlong | +0.1322% | 1h | 1.8514 | long leg | $4.3M | $4.3M | 5x |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
GMX RENDER/USD [ETH-USDC]
BloFin RENDER-USDT
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD