Funding you earn now, next payment 02:00 UTC−0.0418%/8h= −45.8% APRpaid last 24h −0.050%
Price spread now: GRVT against Hyperliquid−0.367%7-day average −0.132% · you buy dearer than you sell
Net, funding: paid 7d − costs−$100as in the Funding arb table
Net, price: spread back to 7d avg − costs−$119as in the Price arb table
costs, in and out, $10k−$950.952% of the position
Funding, last 7 days−0.051%−$5 on $10k
+Price spread, last 4 days (all we have)+1.460%+$146 · spread now −0.367%, 7d avg −0.132%
=Together, before fees+1.409%+ Points / potential airdropHyperliquid: Season 2 · GRVT: Active · farm board+$141 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and GRVT is 0.235% cheaper against Hyperliquid than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.132%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.051% in total (about -2.7% 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 | Hyperliquid ZEN | 7.8042 | 0.0518 | pay 0.0065% / 1h | 10m 58s | $2.5M | $1.6M | 5x |
| Short | GRVT ZEN_USDT_Perp | 7.7756 | 0.0100 | get 0.0100% / 8h | 6h 10m | $581K | $1.8M | 10x |
Hyperliquid ZEN
GRVT ZEN_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT 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
- −$87.77
- Price spread: −0.367% → −0.132%
- −$23.51
- Slippage, 4 orders
- −$77.16
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- −$206.44
- Costs to cover
- 0.952%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 10 min ago; GRVT: live order book, 2 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 Hyperliquid live order book, 10 min ago | 2.94 bp | 20.4 bp −$20 | doesn't fit | doesn't fit | doesn't fit |
| Sell GRVT live order book, 2 min ago | 0.64 bp | 22.9 bp −$23 | 68.5 bp −$685 | doesn't fit | doesn't fit |
ZEN on 16 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 ZEN-USD | 0.0000% | 1h | 7.7842 | −0.256% | $9K | — | 5x | as long as short |
| Variational Omni ZEN | +0.0088% | 8h | 7.7731 | −0.398% | $52K | $84K | — | as long as short |
| Aster ZENUSDT | +0.0100% | 8h | 7.7850 | −0.246% | $56K | $375K | 10x | as long as short |
| Binance ZENUSDT | +0.0100% | 8h | 7.7816 | −0.290% | $11.3M | $30.9M | 75x | as long as short |
| Bybit ZENUSDT | +0.0100% | 8h | 7.7790 | −0.323% | $4.6M | $6.0M | 75x | as long as short |
| OKX ZEN-USDT-SWAP | +0.0100% | 4h | 7.7720 | −0.413% | $2.4M | $5.5M | 50x | as long as short |
| MEXC ZEN_USDT | +0.0100% | 8h | 7.7830 | −0.272% | $12.2M | $5.4M | 200x | as long as short |
| KuCoin ZENUSDTM | +0.0100% | 8h | 7.7830 | −0.272% | $4.2M | $4.7M | 50x | as long as short |
| Bitget ZENUSDT | +0.0100% | 8h | 7.7800 | −0.310% | $2.9M | $3.4M | 50x | as long as short |
| BingX ZEN-USDT | +0.0100% | 8h | 7.7760 | −0.361% | — | $3.2M | — | as long as short |
dYdX ZEN-USD
Variational Omni ZEN
Aster ZENUSDT
Binance ZENUSDT
Bybit ZENUSDT
OKX ZEN-USDT-SWAP
MEXC ZEN_USDT
KuCoin ZENUSDTM
Bitget ZENUSDT
BingX ZEN-USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT ZEN_USDT_Perpshort | +0.0100% | 8h | 7.7756 | −0.367% | $581K | $1.8M | 10x | |
| ApeX Omni ZENUSDT | +0.0100% | 1h | 7.7790 | −0.323% | $27K | $682K | 50x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.7800 | −0.310% | $1K | $1.4M | 20x | as long as short |
| Extended ZEN-USD | +0.0104% | 1h | 7.7773 | −0.344% | $24K | $124K | 5x | as long as short |
| Hyperliquid ZENlong | +0.0518% | 1h | 7.8042 | long leg | $2.5M | $1.6M | 5x | |
| Kraken Futures PF_ZENUSD | +0.3178% | 1h | 7.8096 | +0.069% | $511K | $1.0M | 25x | as long as short |
ApeX Omni ZENUSDT
SunX ZEN-USDT
Extended ZEN-USD
Kraken Futures PF_ZENUSD