Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h +0.007%

Price spread now: Hyperliquid against MEXC+0.236%7-day average +0.082% · you sell dearer than you buy

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

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 7 days−0.169%−$17 · spread now +0.236%, 7d avg +0.082%

Together, before fees−0.114%+ Points / potential airdropHyperliquid: Season 2 · farm board−$11 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 0.154% dearer against MEXC than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZORA_USDT	0.008457	0.0100	pay 0.0050% / 4h	29m 58s	$9.8M	$228K	50x
Short	Hyperliquid ZORA	0.008477	0.0161	get 0.0020% / 1h	29m 58s	$1.6M	$315K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.236%Rate

Funding earned: $12.84
Price spread: +0.236% → +0.082%: $15.43
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $15.26
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: MEXC: live order book, 3 min ago; Hyperliquid: live order book, 1 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 MEXC live order book, 3 min ago	2.36 bp	13.1 bp −$13	60.0 bp −$600	236.3 bp −$23.6K	doesn't fit
Sell Hyperliquid live order book, 1 min ago	1.18 bp	doesn't fit	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	0.008472	+0.177%	$312	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008458	+0.012%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008451	−0.071%	$21K	$12K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008463	+0.070%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008459	+0.024%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008447	−0.118%	$2.3M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008454	−0.035%	$770K	$986K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008460	+0.035%	$156K	$74K	25x	as long as short
MEXC ZORA_USDTlong	+0.0100%	4h	0.008457	long leg	$9.8M	$228K	50x
KuCoin ZORAUSDTM	+0.0100%	4h	0.008457	0.000%	$765K	$1.2M	30x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZORAUSDT	+0.0100%	4h	0.008467	+0.118%	$740K	$208K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008450	−0.088%	$126K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008640	+2.164%	$2K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008457	−0.001%	$6K	$169K	5x	as long as short
Hyperliquid ZORAshort	+0.0161%	1h	0.008477	+0.236%	$1.6M	$315K	3x
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008457	0.000%	$1K	—	100x	as long as short
Backpack ZORA_USDC_PERP	+0.0253%	1h	0.008459	+0.024%	$34K	$114K	10x	as long as short