Funding you earn now, next payment 03:00 UTC−0.0844%/8h= −92.5% APRnext payment −$1.06 per $10,000 · paid last 24h −0.378%
Price spread now: Injective against Hyperliquid−0.427%7-day average −0.331% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.751%−$75 on $10k
+Price spread, last 4 days (all we have)−0.317%−$32 · spread now −0.427%, 7d avg −0.331%
=Together, before fees−1.068%+ Points / potential airdropHyperliquid: Season 2 · farm board−$107 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and Injective is 0.097% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.331%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid RENDER | 1.8961 | 0.0880 | pay 0.0110% / 1h | 19m 06s | $4.3M | $3.2M | 5x |
| Short | Injective RENDER/USDC PERP | 1.8880 | 0.0036 | get 0.0004% / 1h | 19m 06s | $6K | $188K | 12x |
Hyperliquid RENDER
Injective RENDER/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$177.3
- Price spread: −0.427% → −0.331%
- −$9.66
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$195.98
- Costs to cover
- 0.090%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 3 min ago; Injective: live order book, 60 min ago. 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, 3 min ago | 3.17 bp | 15.7 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective live order book, 60 min ago | 32.43 bp | doesn't fit | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX RENDER-USD | 0.0000% | 1h | 1.8896 | −0.342% | $19K | $21K | 5x | as long as short |
| Injective RENDER/USDC PERPshort | +0.0036% | 1h | 1.8880 | −0.427% | $6K | $188K | 12x | |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8933 | −0.148% | $12.6M | $46.9M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8920 | −0.216% | $12.1M | $13.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAP | +0.0100% | 4h | 1.8930 | −0.163% | $3.2M | $8.4M | 20x | as long as short |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8922 | −0.206% | $584K | $1.2M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8930 | −0.163% | $14.1M | $11.1M | 200x | as long as short |
| KuCoin RENDERUSDTM | +0.0100% | 4h | 1.8930 | −0.163% | $5.2M | $11.9M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8942 | −0.100% | $10.4M | $10.7M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8930 | −0.163% | — | $3.6M | — | as long as short |
dYdX RENDER-USD
Binance RENDERUSDT
Bybit RENDERUSDT
OKX RENDER-USDT-SWAP
Gate RENDER_USDT
MEXC RENDER_USDT
KuCoin RENDERUSDTM
Bitget RENDERUSDT
BingX RENDER-USDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni RENDER | +0.0100% | 4h | 1.8877 | −0.446% | $269K | $313K | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8892 | −0.364% | $43K | $254K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8920 | −0.216% | $1.9M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8934 | −0.143% | $28K | $198K | 10x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | +0.0120% | 1h | 1.8930 | −0.163% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0233% | 4h | 1.8962 | +0.004% | $274K | $145K | 20x | as long as short |
| Phoenix RENDER | +0.0259% | 1h | 1.8991 | +0.158% | $49K | $246K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8920 | −0.216% | $591K | $1.1M | 90x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0369% / S −0.0912% | 1h | 1.8925 | −0.192% | $16K | — | 100x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0456% | 1h | 1.9130 | +0.891% | $157K | $58K | 50x | as long as short |
| Hyperliquid RENDERlong | +0.0880% | 1h | 1.8961 | long leg | $4.3M | $3.2M | 5x | |
| Kraken Futures PF_RENDERUSD | +0.1412% | 1h | 1.8950 | −0.057% | $490K | $1.1M | 50x | as long as short |
Variational Omni RENDER
ApeX Omni RENDERUSDT
Phemex RENDERUSDT
Extended RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Phoenix RENDER
BloFin RENDER-USDT
GMX RENDER/USD [ETH-USDC]
Coinbase International RENDER-PERP-INTX
Kraken Futures PF_RENDERUSD