Funding you earn now, next payment 22:00 UTC−0.1788%/8h= −195.8% APRnext payment −$2.23 per $10,000 · paid last 24h +0.006%
Price spread now: Hyperliquid against Extended+0.268%7-day average +0.106% · you sell dearer than you buy
Net, funding: paid 7d − costs−$1,006as in the Funding arb table
Net, price: spread back to 7d avg − costs−$996as in the Price arb table
costs, in and out, $10k−$1,01210.121% of the position
Funding, last 7 days+0.057%+$6 on $10k
+Price spread, last 4 days (all we have)−0.187%−$19 · spread now +0.268%, 7d avg +0.106%
=Together, before fees−0.131%+ Points / potential airdropExtended: Active · Hyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.163% dearer against Extended than usual: you sell high and buy low (spread +0.268% now, against its 7-day average of +0.106%): +$16 on $10k if it goes back. Holding the pair costs −$54 a day in funding at the current rate, which eats that in about 7 hours. Mind the row above: over the last 7 days funding on this pair paid +0.057%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.057% in total (about 3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.23 per $10,000. 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 | Extended ZRO-USD | 1.1831 | 0.1888 | pay 0.0236% / 1h | 13m 39s | $784K | $556K | 10x |
| Short | Hyperliquid ZRO | 1.1863 | 0.0100 | get 0.0013% / 1h | 13m 39s | $37.7M | $6.7M | 5x |
Extended ZRO-USD
Hyperliquid ZROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Extended. 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
- −$375.48
- Price spread: +0.268% → +0.106%
- $16.25
- Slippage, 4 orders
- −$998.09
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$1,371.32
- Costs to cover
- 10.121%
- Break-even
- never at this rate
Slippage from Extended: live order book, 9 min ago; Hyperliquid: live order book, 10 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 Extended live order book, 9 min ago | 12.59 bp | 959.9 bp −$960 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 10 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 | 1.1846 | +0.126% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0049% | 4h | 1.1858 | +0.226% | $21K | $7K | 10x | as long as short |
| dYdX ZRO-USD | +0.0044% | 1h | 1.1845 | +0.114% | $21K | $2K | 5x | as long as short |
| BloFin ZRO-USDT | +0.0087% | 4h | 1.1868 | +0.311% | $1.1M | $266K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1843 | +0.099% | $4.5M | $1.4M | 5x | as long as short |
| Hyperliquid ZROshort | +0.0100% | 1h | 1.1863 | +0.268% | $37.7M | $6.7M | 5x | |
| Aster ZROUSDT | +0.0100% | 4h | 1.1862 | +0.259% | $158K | $160K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1842 | +0.087% | $143K | $193K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1832 | +0.006% | $22.3M | $33.2M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1825 | −0.053% | $18.1M | $15.5M | 50x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
dYdX ZRO-USD
BloFin ZRO-USDT
Lighter ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1829 | −0.019% | $3.2M | $9.0M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1840 | +0.074% | $1.3M | $2.0M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1839 | +0.066% | $19.1M | $3.5M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1861 | +0.251% | $3.0M | $1.8M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1840 | +0.074% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1832 | +0.006% | — | $10.9M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1863 | +0.268% | $95K | $206K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1844 | +0.112% | $2.3M | $861K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1860 | +0.243% | $37K | $681K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1865 | +0.285% | $88K | $921K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1857 | +0.215% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0158% | 1h | 1.1855 | +0.203% | $1.3M | $131K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1869 | +0.321% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0316% | 1h | 1.1875 | +0.369% | $252K | $569K | 25x | as long as short |
| Injective ZRO/USDC PERP | +0.1237% | 1h | 1.1900 | +0.581% | $12K | $175K | 12x | as long as short |
| Extended ZRO-USDlong | +0.1888% | 1h | 1.1831 | long leg | $784K | $556K | 10x |
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Injective ZRO/USDC PERP