Funding you earn now, next payment 22:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.23 per $10,000 · paid last 24h −0.064%
Price spread now: GMX against Hyperliquid−0.262%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and GMX is 0.262% cheaper against Hyperliquid than usual: you would sell low and buy high (−$26 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid RENDER | 1.8704 | 0.0965 | pay 0.0121% / 1h | 39m 53s | $4.3M | $4.3M | 5x |
| Short | GMX RENDER/USD [ETH-USDC] | 1.8655 | L +0.0341% / S −0.0785% | get 0.0098% / 1h | 39m 53s | $14K | — | 100x |
Hyperliquid RENDER
GMX RENDER/USD [ETH-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- −$37.81
- Price spread: −0.262% → 0.000%
- −$26.25
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$85.05
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 2 min ago; GMX: 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, 2 min ago | 3.21 bp | 14.8 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
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 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 | −0.0440% | 1h | 1.8620 | −0.449% | $6K | $141K | 12x | as long as short |
| Variational Omni RENDER | −0.0257% | 4h | 1.8615 | −0.475% | $225K | $258K | — | as long as short |
| Bybit RENDERUSDT | −0.0164% | 4h | 1.8650 | −0.289% | $12.2M | $14.6M | 50x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | −0.0072% | 1h | 1.8655 | −0.262% | $11K | $32K | 25x | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8639 | −0.348% | $19K | $21K | 5x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8673 | −0.163% | $271K | $189K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8673 | −0.167% | $12.4M | $49.1M | 75x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8680 | −0.128% | $3.2M | $8.8M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8661 | −0.230% | $546K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8670 | −0.182% | $12.1M | $10.2M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
Bybit RENDERUSDT
Deribit RENDER_USDC-PERPETUAL
dYdX RENDER-USD
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 | 1.8670 | −0.182% | $5.2M | $13.0M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8675 | −0.155% | $10.0M | $10.3M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8660 | −0.235% | — | $4.3M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8618 | −0.460% | $44K | $265K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8660 | −0.235% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8670 | −0.180% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8635 | −0.369% | $40K | $336K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8640 | −0.342% | $604K | $1.4M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC]short | L +0.0341% / S −0.0785% | 1h | 1.8655 | −0.262% | $14K | — | 100x | |
| Coinbase International RENDER-PERP-INTX | +0.0520% | 1h | 1.8570 | −0.716% | $153K | $68K | 50x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0744% | 1h | 1.8685 | −0.104% | $489K | $1.1M | 50x | as long as short |
| Hyperliquid RENDERlong | +0.0965% | 1h | 1.8704 | long leg | $4.3M | $4.3M | 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
Kraken Futures PF_RENDERUSD