Funding you earn now, next payment 07:00 UTC+0.1217%/8h= +133.3% APRnext payment +$1.52 per $10,000 · paid last 24h +0.130%
Price spread now: Injective against Hyperliquid+0.480%53s7-day average −0.083% · you sell dearer than you buy
Net, funding: paid 7d − costs−$121as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$950.950% of the position
Funding, last 7 days−0.261%−$26 on $10k
+Price spread, last 4 days (all we have)−1.225%−$123 · spread now +0.480%, 7d avg −0.083%
=Together, before fees−1.486%+ Points / potential airdropHyperliquid: Season 2 · farm board−$149 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$37 a day on $10k at the current rate, and Injective is 0.563% dearer against Hyperliquid than usual: you sell high and buy low: +$56 more if the spread goes back to its 7-day average of −0.083%. Mind the row above: over the last 7 days funding on this pair cost −0.261%, so the current rate has only just turned in your favour. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.261% in total (about -13.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.52 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 | Hyperliquid ZRO | 1.1674 | 0.0100 | pay 0.0013% / 1h | 8m 24s | $37.0M | $5.4M | 5x |
| Short | Injective ZRO/USDC PERP | 1.1730 | 0.1317 | get 0.0165% / 1h | 8m 24s | $12K | $261K | 12x |
Hyperliquid ZRO
Injective ZRO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $255.6
- Price spread: +0.480% → −0.083%
- $56.27
- Slippage, 4 orders
- −$85.95
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $216.91
- Costs to cover
- 0.950%
- Break-even
- 1.1 days
Slippage from Hyperliquid: live order book, 5 min ago; Injective: live order book, 36 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 Hyperliquid live order book, 5 min ago | 0.43 bp | 13.7 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective live order book, 36 min ago | 29.90 bp | 40.5 bp −$41 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZRO-USD | +0.0030% | 1h | 1.1681 | +0.058% | $21K | $5K | 5x | as long as short |
| 01 Exchange ZROUSD | +0.0072% | 1h | 1.1669 | −0.039% | $4K | $5K | 5x | as long as short |
| BloFin ZRO-USDT | +0.0083% | 4h | 1.1671 | −0.026% | $1.0M | $202K | 75x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0093% | 4h | 1.1670 | −0.034% | $20K | $4K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1690 | +0.139% | $4.4M | $1.2M | 5x | as long as short |
| Hyperliquid ZROlong | +0.0100% | 1h | 1.1674 | long leg | $37.0M | $5.4M | 5x | |
| Aster ZROUSDT | +0.0100% | 4h | 1.1681 | +0.060% | $158K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1669 | −0.039% | $137K | $171K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1666 | −0.066% | $21.8M | $29.0M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1668 | −0.051% | $17.9M | $13.3M | 50x | as long as short |
dYdX ZRO-USD
01 Exchange ZROUSD
BloFin ZRO-USDT
Orderly PERP_ZRO_USDC
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 | 1.1656 | −0.154% | $3.2M | $7.6M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1670 | −0.034% | $1.3M | $1.4M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1667 | −0.060% | $19.2M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1677 | +0.026% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1665 | −0.077% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1678 | +0.034% | — | $16.5M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1663 | −0.096% | $2.3M | $770K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1670 | −0.034% | $39K | $670K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1673 | −0.009% | $99K | $817K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1667 | −0.059% | $21K | — | 3x | as long as short |
| Backpack ZRO_USDC_PERP | +0.0226% | 1h | 1.1683 | +0.077% | $95K | $216K | 20x | as long as short |
| Nado ZRO-PERP | +0.0258% | 1h | 1.1667 | −0.062% | $1.3M | $128K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1666 | −0.069% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0515% | 1h | 1.1676 | +0.018% | $254K | $298K | 25x | as long as short |
| Extended ZRO-USD | +0.0760% | 1h | 1.1666 | −0.066% | $799K | $629K | 10x | as long as short |
| Injective ZRO/USDC PERPshort | +0.1317% | 1h | 1.1730 | +0.480% | $12K | $261K | 12x |
OKX ZRO-USDT-SWAP
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
Backpack ZRO_USDC_PERP
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Extended ZRO-USD