Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.061%
Price spread now: Hyperliquid against Backpack+0.059%7-day average +0.069% · you sell dearer than you buy
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$380.378% of the position
Funding, last 7 days+0.297%+$30 on $10k
+Price spread, last 4 days (all we have)+0.155%+$16 · spread now +0.059%, 7d avg +0.069%
=Together, before fees+0.453%+ Points / potential airdropHyperliquid: Season 2 · farm board+$45 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZRO_USDC_PERP | 1.1869 | 0.0100 | pay 0.0013% / 1h | 19m 03s | $93K | $205K | 20x |
| Short | Hyperliquid ZRO | 1.1876 | 0.0100 | get 0.0013% / 1h | 19m 03s | $37.7M | $6.7M | 5x |
Backpack ZRO_USDC_PERP
Hyperliquid ZROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Backpack. 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
- $0
- Price spread: +0.059% → +0.069%
- −$0.99
- Slippage, 4 orders
- −$18.8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$38.78
- Costs to cover
- 0.378%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 4 min ago; Hyperliquid: live order book, 4 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 Backpack live order book, 4 min ago | 0.84 bp | 7.5 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 4 min ago | 0.84 bp | 11.9 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
ZRO on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange ZROUSD | −0.0400% | 1h | 1.1850 | −0.158% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0048% | 4h | 1.1860 | −0.076% | $21K | $7K | 10x | as long as short |
| dYdX ZRO-USD | +0.0031% | 1h | 1.1860 | −0.072% | $21K | $2K | 5x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1867 | −0.017% | $4.6M | $1.3M | 5x | as long as short |
| Hyperliquid ZROshort | +0.0100% | 1h | 1.1876 | +0.059% | $37.7M | $6.7M | 5x | |
| Aster ZROUSDT | +0.0100% | 4h | 1.1863 | −0.054% | $158K | $160K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1859 | −0.084% | $143K | $193K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1862 | −0.059% | $22.4M | $33.3M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1855 | −0.118% | $18.2M | $15.6M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1859 | −0.084% | $3.2M | $9.1M | 20x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
dYdX ZRO-USD
Lighter ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ZRO_USDT | +0.0100% | 4h | 1.1860 | −0.076% | $1.3M | $2.0M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1861 | −0.067% | $19.2M | $3.5M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1869 | 0.000% | $3.0M | $1.8M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1860 | −0.076% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1853 | −0.135% | — | $10.9M | — | as long as short |
| Backpack ZRO_USDC_PERPlong | +0.0100% | 1h | 1.1869 | long leg | $93K | $205K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1854 | −0.123% | $2.3M | $862K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1870 | +0.008% | $37K | $681K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1869 | 0.000% | $87K | $920K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1860 | −0.078% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0155% | 4h | 1.1861 | −0.067% | $1.1M | $266K | 75x | as long as short |
| Nado ZRO-PERP | +0.0156% | 1h | 1.1857 | −0.100% | $1.3M | $131K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1864 | −0.040% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0316% | 1h | 1.1878 | +0.077% | $252K | $571K | 25x | as long as short |
| Injective ZRO/USDC PERP | +0.1237% | 1h | 1.1890 | +0.177% | $12K | $175K | 12x | as long as short |
| Extended ZRO-USD | +0.1672% | 1h | 1.1860 | −0.080% | $784K | $555K | 10x | as long as short |
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Injective ZRO/USDC PERP
Extended ZRO-USD