ZORA

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0098%/8h= −10.7% APRnext payment −$0.12 per $10,000 · paid last 24h +0.025%

Price spread now: Backpack against Hyperliquid−0.203%7-day average −0.085% · you buy dearer than you sell

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

Long on Hyperliquid Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.089%+$9 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.203%, 7d avg −0.085%

Together, before fees+0.061%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Backpack is 0.118% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.085%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.089%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZORA	0.008381	0.0198	pay 0.0025% / 1h	57m 36s	$1.6M	$317K	3x
Short	Backpack ZORA_USDC_PERP	0.008364	0.0100	get 0.0013% / 1h	57m 36s	$33K	$117K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 BackpackbpOrdersPrice spread, now −0.203%Rate

Funding earned: −$20.57
Price spread: −0.203% → −0.085%: −$11.75
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$51.32
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; Backpack: live order book, 25 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	1.79 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 25 min ago	0.60 bp	13.4 bp −$13	doesn't fit	doesn't fit	doesn't fit

ZORA 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
dYdX ZORA-USD	0.0000%	1h	0.008365	−0.187%	$308	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008362	−0.227%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008348	−0.394%	$22K	$11K	3x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008351	−0.361%	$124K	$26K	—	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008367	−0.165%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008365	−0.191%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008358	−0.274%	$2.2M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008357	−0.286%	$763K	$960K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008360	−0.251%	$154K	$72K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008366	−0.179%	$9.7M	$223K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZORAUSDTM	+0.0100%	4h	0.008370	−0.131%	$778K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008370	−0.131%	$731K	$207K	25x	as long as short
Backpack ZORA_USDC_PERPshort	+0.0100%	1h	0.008364	−0.203%	$33K	$117K	10x
SunX ZORA-USDT	+0.0100%	4h	0.008540	+1.897%	$1K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008366	−0.179%	$6K	$169K	5x	as long as short
Hyperliquid ZORAlong	+0.0198%	1h	0.008381	long leg	$1.6M	$317K	3x
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008363	−0.215%	$1K	—	100x	as long as short