Funding you earn now, next payment 23:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h +0.058%
Price spread now: Hyperliquid against Bybit+0.305%7-day average +0.118% · you sell dearer than you buy
Net, funding: paid 7d − costs−$102as in the Funding arb table
Net, price: spread back to 7d avg − costs−$94as in the Price arb table
costs, in and out, $10k−$1121.123% of the position
Funding, last 7 days+0.100%+$10 on $10k
+Price spread, last 7 days−0.223%−$22 · spread now +0.305%, 7d avg +0.118%
=Together, before fees−0.123%+ Points / potential airdropHyperliquid: Season 2 · farm board−$12 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.187% dearer against Bybit than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.118%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ZENUSDT | 7.6750 | 0.0100 | pay 0.0100% / 8h | 1h 56m | $4.7M | $6.8M | 75x |
| Short | Hyperliquid ZEN | 7.6984 | 0.0173 | get 0.0022% / 1h | 56m 12s | $2.4M | $1.9M | 5x |
Bybit ZENUSDT
Hyperliquid ZENFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Bybit. 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
- $15.42
- Price spread: +0.305% → +0.118%
- $18.73
- Slippage, 4 orders
- −$92.25
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$78.11
- Costs to cover
- 1.123%
- Break-even
- 42.5 days
Slippage from Bybit: live order book, 2 min ago; Hyperliquid: live order book, 5 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 Bybit live order book, 2 min ago | 2.61 bp | 39.7 bp −$40 | 154.5 bp −$1,545 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 1.76 bp | 16.0 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
ZEN on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| OKX ZEN-USDT-SWAP | −0.0088% | 4h | 7.6800 | +0.065% | $2.3M | $5.9M | 50x | as long as short |
| Variational Omni ZEN | −0.0072% | 8h | 7.6417 | −0.433% | $51K | $151K | — | as long as short |
| KuCoin ZENUSDTM | −0.0016% | 8h | 7.6800 | +0.065% | $4.3M | $5.1M | 50x | as long as short |
| dYdX ZEN-USD | 0.0000% | 1h | 7.6762 | +0.015% | $9K | — | 5x | as long as short |
| Extended ZEN-USD | +0.0008% | 1h | 7.6794 | +0.057% | $25K | $110K | 5x | as long as short |
| MEXC ZEN_USDT | +0.0011% | 8h | 7.6800 | +0.065% | $12.2M | $5.5M | 200x | as long as short |
| Binance ZENUSDT | +0.0012% | 8h | 7.6795 | +0.058% | $11.0M | $32.2M | 75x | as long as short |
| Bitget ZENUSDT | +0.0034% | 8h | 7.6810 | +0.078% | $2.8M | $3.5M | 50x | as long as short |
| BloFin ZEN-USDT | +0.0047% | 8h | 7.6570 | −0.235% | $840K | $1.9M | 75x | as long as short |
| Aster ZENUSDT | +0.0071% | 8h | 7.6774 | +0.031% | $53K | $381K | 10x | as long as short |
OKX ZEN-USDT-SWAP
Variational Omni ZEN
KuCoin ZENUSDTM
dYdX ZEN-USD
Extended ZEN-USD
MEXC ZEN_USDT
Binance ZENUSDT
Bitget ZENUSDT
BloFin ZEN-USDT
Aster ZENUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ZENUSDTlong | +0.0100% | 8h | 7.6750 | long leg | $4.7M | $6.8M | 75x | |
| BingX ZEN-USDT | +0.0100% | 8h | 7.6790 | +0.052% | — | $3.4M | — | as long as short |
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.6471 | −0.364% | $582K | $1.6M | 10x | as long as short |
| ApeX Omni ZENUSDT | +0.0100% | 1h | 7.6500 | −0.326% | $27K | $683K | 50x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.6740 | −0.013% | $2K | $1.4M | 20x | as long as short |
| Hyperliquid ZENshort | +0.0173% | 1h | 7.6984 | +0.305% | $2.4M | $1.9M | 5x | |
| Kraken Futures PF_ZENUSD | +0.1891% | 1h | 7.7020 | +0.351% | $496K | $1.1M | 25x | as long as short |
BingX ZEN-USDT
GRVT ZEN_USDT_Perp
ApeX Omni ZENUSDT
SunX ZEN-USDT
Kraken Futures PF_ZENUSD