Funding you earn now, next payment 22:00 UTC−0.0498%/8h= −54.5% APRpaid last 24h −0.004%
Price spread now: Bybit against Hyperliquid−0.440%7-day average −0.163% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.031%−$3 on $10k
+Price spread, last 7 days+0.408%+$41 · spread now −0.440%, 7d avg −0.163%
=Together, before fees+0.378%+ Points / potential airdropHyperliquid: Season 2 · farm board+$38 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Bybit is 0.277% cheaper against Hyperliquid than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.163%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.031% in total (about -1.6% 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 ZORA | 0.008410 | 0.0598 | pay 0.0075% / 1h | 54m 57s | $1.6M | $321K | 3x |
| Short | Bybit ZORAUSDT | 0.008373 | 0.0100 | get 0.0050% / 4h | 2h 54m | $2.2M | $1.6M | 25x |
Hyperliquid ZORA
Bybit ZORAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$104.53
- Price spread: −0.440% → −0.163%
- −$27.67
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$152.2
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 6 min ago; Bybit: live order book, 2 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, 6 min ago | 1.19 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 2.99 bp | 27.3 bp −$27 | 74.8 bp −$748 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack ZORA_USDC_PERP | −0.0418% | 1h | 0.008392 | −0.214% | $36K | $118K | 10x | as long as short |
| dYdX ZORA-USD | 0.0000% | 1h | 0.008394 | −0.190% | $309 | $5 | 5x | as long as short |
| Variational Omni ZORA | +0.0005% | 4h | 0.008374 | −0.429% | $124K | $26K | — | as long as short |
| BingX ZORA-USDT | +0.0070% | 4h | 0.008386 | −0.285% | — | $6.6M | — | as long as short |
| Lighter ZORA | +0.0096% | 1h | 0.008378 | −0.380% | $22K | $11K | 3x | as long as short |
| Aster ZORAUSDT | +0.0100% | 4h | 0.008389 | −0.246% | $26K | $28K | 5x | as long as short |
| Binance ZORAUSDT | +0.0100% | 4h | 0.008393 | −0.196% | $2.5M | $4.0M | 50x | as long as short |
| Bybit ZORAUSDTshort | +0.0100% | 4h | 0.008373 | −0.440% | $2.2M | $1.6M | 25x | |
| OKX ZORA-USDT-SWAP | +0.0100% | 4h | 0.008373 | −0.440% | $762K | $965K | 10x | as long as short |
| Gate ZORA_USDT | +0.0100% | 4h | 0.008380 | −0.357% | $155K | $72K | 25x | as long as short |
Backpack ZORA_USDC_PERP
dYdX ZORA-USD
Variational Omni ZORA
BingX ZORA-USDT
Lighter ZORA
Aster ZORAUSDT
Binance ZORAUSDT
OKX ZORA-USDT-SWAP
Gate ZORA_USDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ZORA_USDT | +0.0100% | 4h | 0.008388 | −0.262% | $9.7M | $228K | 50x | as long as short |
| KuCoin ZORAUSDTM | +0.0100% | 4h | 0.008387 | −0.273% | $734K | $1.1M | 30x | as long as short |
| Bitget ZORAUSDT | +0.0100% | 4h | 0.008395 | −0.178% | $733K | $214K | 25x | as long as short |
| SunX ZORA-USDT | +0.0100% | 4h | 0.008570 | +1.902% | $1K | $1.2M | 20x | as long as short |
| Extended ZORA-USD | +0.0104% | 1h | 0.008383 | −0.326% | $6K | $169K | 5x | as long as short |
| GMX ZORA/USD [ETH-USDC] | L +0.0230% / S −0.0433% | 1h | 0.008394 | −0.190% | $1K | — | 100x | as long as short |
| Hyperliquid ZORAlong | +0.0598% | 1h | 0.008410 | long leg | $1.6M | $321K | 3x |
MEXC ZORA_USDT
KuCoin ZORAUSDTM
Bitget ZORAUSDT
SunX ZORA-USDT
Extended ZORA-USD
GMX ZORA/USD [ETH-USDC]