Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against Hyperliquid−0.327%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 5 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 · Pacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.327% cheaper against Hyperliquid than usual: you would sell low and buy high, −$33 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZK	0.01164	0.0100	pay 0.0013% / 1h	56m 53s	$584K	$237K	5x
Short	Pacifica ZK	0.01160	0.0100	get 0.0013% / 1h	56m 53s	$29K	$3K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee PacificabpOrdersPrice spread, now −0.327%Rate

Funding earned: $0
Price spread: −0.327% → 0.000%: −$32.65
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$49.65
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 23 min ago; Pacifica: 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, 23 min ago	1.28 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: 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.

ZK 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 ZK-USDT-SWAP	+0.0027%	4h	0.01163	−0.069%	$944K	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.533%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01162	−0.112%	$119K	$156K	8x	as long as short
Hyperliquid ZKlong	+0.0100%	1h	0.01164	long leg	$584K	$237K	5x
Aster ZKUSDT	+0.0100%	4h	0.01163	−0.052%	$36K	$19K	10x	as long as short
Pacifica ZKshort	+0.0100%	1h	0.01160	−0.327%	$29K	$3K	5x
Binance ZKUSDT	+0.0100%	4h	0.01163	−0.045%	$4.7M	$9.9M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01163	−0.060%	$5.0M	$2.7M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01161	−0.241%	$315K	$243K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01163	−0.069%	$987K	$967K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01163	−0.069%	$1.5M	$851K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01163	−0.069%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01159	−0.429%	$56K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01159	−0.411%	$153K	$2.9M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01160	−0.327%	$7K	$623K	50x	as long as short
BloFin ZK-USDT	+0.0150%	4h	0.01160	−0.327%	$212K	$24K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1300%	1h	0.01163	−0.040%	$193K	$44K	25x	as long as short