Funding you earn now, next payment 23:00 UTC+0.0712%/8h= +77.9% APRpaid last 24h +0.174%
Price spread now: Hyperliquid against OKX+0.206%7-day average +0.113% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$620.624% of the position
Funding, last 7 days+0.445%+$45 on $10k
+Price spread, last 7 days−0.088%−$9 · spread now +0.206%, 7d avg +0.113%
=Together, before fees+0.358%+ Points / potential airdropHyperliquid: Season 2 · farm board+$36 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Hyperliquid is 0.093% dearer against OKX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.113%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.445% in total (about 23.2% 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 | OKX RENDER-USDT-SWAP | 1.8460 | 0.0100 | pay 0.0050% / 4h | 1h 55m | $3.1M | $8.6M | 20x |
| Short | Hyperliquid RENDER | 1.8498 | 0.0812 | get 0.0101% / 1h | 55m 29s | $4.2M | $3.7M | 5x |
OKX RENDER-USDT-SWAP
Hyperliquid RENDERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against OKX. 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
- $149.47
- Price spread: +0.206% → +0.113%
- $9.32
- Slippage, 4 orders
- −$43.39
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $96.4
- Costs to cover
- 0.624%
- Break-even
- 2.5 days
Slippage from OKX: live order book, 3 min ago; Hyperliquid: live order book, 6 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 OKX live order book, 3 min ago | 2.72 bp | 22.6 bp −$23 | 49.5 bp −$495 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 6 min ago | 2.16 bp | 11.6 bp −$12 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective RENDER/USDC PERP | −0.0576% | 1h | 1.8400 | −0.325% | $6K | $165K | 12x | as long as short |
| Variational Omni RENDER | −0.0369% | 4h | 1.8424 | −0.194% | $222K | $296K | — | as long as short |
| dYdX RENDER-USD | 0.0000% | 1h | 1.8428 | −0.171% | $19K | $21K | 5x | as long as short |
| Deribit RENDER_USDC-PERPETUAL | 0.0000% | 1h | 1.8446 | −0.076% | $11K | $30K | 25x | as long as short |
| Aster RENDERUSDT | +0.0100% | 4h | 1.8454 | −0.034% | $264K | $181K | 20x | as long as short |
| Binance RENDERUSDT | +0.0100% | 4h | 1.8457 | −0.014% | $12.2M | $48.6M | 75x | as long as short |
| Bybit RENDERUSDT | +0.0100% | 4h | 1.8443 | −0.092% | $12.0M | $14.2M | 50x | as long as short |
| OKX RENDER-USDT-SWAPlong | +0.0100% | 4h | 1.8460 | long leg | $3.1M | $8.6M | 20x | |
| Gate RENDER_USDT | +0.0100% | 4h | 1.8437 | −0.125% | $537K | $1.1M | 50x | as long as short |
| MEXC RENDER_USDT | +0.0100% | 4h | 1.8460 | 0.000% | $11.7M | $10.2M | 200x | as long as short |
Injective RENDER/USDC PERP
Variational Omni RENDER
dYdX RENDER-USD
Deribit RENDER_USDC-PERPETUAL
Aster RENDERUSDT
Binance RENDERUSDT
Bybit RENDERUSDT
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 | −0.163% | $5.0M | $12.9M | 50x | as long as short |
| Bitget RENDERUSDT | +0.0100% | 4h | 1.8465 | +0.027% | $9.9M | $10.4M | 50x | as long as short |
| BingX RENDER-USDT | +0.0100% | 4h | 1.8440 | −0.108% | — | $4.4M | — | as long as short |
| ApeX Omni RENDERUSDT | +0.0100% | 1h | 1.8403 | −0.309% | $43K | $268K | 50x | as long as short |
| Phemex RENDERUSDT | +0.0100% | 8h | 1.8450 | −0.054% | $1.8M | $4.0M | 50x | as long as short |
| Extended RENDER-USD | +0.0104% | 1h | 1.8432 | −0.149% | $31K | $178K | 10x | as long as short |
| Phoenix RENDER | +0.0173% | 1h | 1.8377 | −0.450% | $40K | $325K | 5x | as long as short |
| BloFin RENDER-USDT | +0.0340% | 4h | 1.8400 | −0.325% | $595K | $1.4M | 90x | as long as short |
| Coinbase International RENDER-PERP-INTX | +0.0352% | 1h | 1.8670 | +1.138% | $154K | $69K | 50x | as long as short |
| GMX RENDER/USD [ETH-USDC] | L +0.0361% / S −0.0904% | 1h | 1.8441 | −0.105% | $15K | — | 100x | as long as short |
| Kraken Futures PF_RENDERUSD | +0.0579% | 1h | 1.8475 | +0.084% | $469K | $1.1M | 50x | as long as short |
| Hyperliquid RENDERshort | +0.0812% | 1h | 1.8498 | +0.206% | $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