Funding you earn now, next payment 23:00 UTC−0.0778%/8h= −85.2% APRnext payment −$0.97 per $10,000 · paid last 24h −0.231%
Price spread now: Deribit against Hyperliquid−0.087%7-day average −0.175% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.691%−$69 on $10k
+Price spread, last 3 days (all we have)−0.766%−$77 · spread now −0.087%, 7d avg −0.175%
=Together, before fees−1.457%+ Points / potential airdropHyperliquid: Season 2 · farm board−$146 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Deribit is 0.088% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.087% now, against its 7-day average of −0.175%): +$9 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.691% in total) that is about 20 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid RENDER | 1.8462 | 0.0778 | pay 0.0097% / 1h | 55m 39s | $4.2M | $3.7M | 5x |
| Short | Deribit RENDER_USDC-PERPETUAL | 1.8446 | 0 | get 0.0000% / 1h | 55m 39s | $11K | $30K | 25x |
Hyperliquid RENDER
Deribit RENDER_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$163.36
- Price spread: −0.087% → −0.175%
- $8.79
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$170.57
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 6 min ago; Deribit: no order-book sample. Net counts fees only.
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, 6 min ago | 2.16 bp | 14.1 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 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 | −0.0576% | 1h | 1.8400 | −0.336% | $6K | $165K | 12x | as long as short |
| Variational Omni RENDER | −0.0369% | 4h | 1.8424 | −0.205% | $222K | $296K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8428 | −0.182% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUALshort | 0.0000% | 1h | 1.8446 | −0.087% | $11K | $30K | 25x | |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8449 | −0.068% | $264K | $184K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8436 | −0.138% | $12.2M | $48.6M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8410 | −0.282% | $12.0M | $14.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8430 | −0.173% | $3.1M | $8.6M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8437 | −0.135% | $537K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8430 | −0.173% | $11.7M | $10.2M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
dYdX RENDER-USD
Aster RENDERUSDT
Binance RENDERUSDT
Bybit 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 | 1.8430 | −0.173% | $5.0M | $12.9M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8436 | −0.141% | $9.9M | $10.4M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8440 | −0.119% | — | $4.4M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8456 | −0.032% | $43K | $267K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8450 | −0.065% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8432 | −0.160% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8377 | −0.460% | $40K | $325K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8400 | −0.336% | $595K | $1.4M | 90x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0352% | 1h | 1.8670 | +1.127% | $154K | $69K | 50x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0361% / S −0.0904% | 1h | 1.8441 | −0.116% | $15K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0579% | 1h | 1.8475 | +0.073% | $469K | $1.1M | 50x | as long as short |
| Hyperliquid RENDERlong | +0.0778% | 1h | 1.8462 | long leg | $4.2M | $3.7M | 5x |
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDT
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Phoenix RENDER
BloFin RENDER-USDT
Coinbase International RENDER-PERP-INTX
GMX RENDER/USD [ETH-USDC]
Kraken Futures PF_RENDERUSD