Funding you earn now, next payment 03:00 UTC−0.0144%/8h= −15.8% APRpaid last 24h −0.072%
Price spread now: Orderly against Hyperliquid−0.221%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.221% cheaper against Hyperliquid than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ZRO | 1.1790 | 0.0180 | pay 0.0023% / 1h | 18m 26s | $37.3M | $5.5M | 5x |
| Short | Orderly PERP_ZRO_USDC | 1.1764 | 0.0036 | get 0.0018% / 4h | 1h 18m | $21K | $5K | 10x |
Hyperliquid ZRO
Orderly PERP_ZRO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$30.23
- Price spread: −0.221% → 0.000%
- −$22.05
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$67.28
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 5 min ago; Orderly: no order-book sample. 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, 5 min ago | 1.28 bp | 11.6 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0304% | 1h | 1.1789 | −0.008% | $7K | $3K | 5x | as long as short |
| dYdX ZRO-USD | +0.0030% | 1h | 1.1778 | −0.105% | $21K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDCshort | +0.0036% | 4h | 1.1764 | −0.221% | $21K | $5K | 10x | |
| BloFin ZRO-USDT | +0.0070% | 4h | 1.1755 | −0.297% | $1.1M | $250K | 75x | as long as short |
| Gate ZRO_USDT | +0.0090% | 4h | 1.1770 | −0.170% | $1.4M | $1.5M | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1797 | +0.055% | $4.4M | $1.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1780 | −0.085% | $159K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1777 | −0.113% | $137K | $176K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1764 | −0.217% | $22.0M | $29.8M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1762 | −0.237% | $17.9M | $14.0M | 50x | as long as short |
01 Exchange ZROUSD
dYdX ZRO-USD
BloFin ZRO-USDT
Gate 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 | 1.1758 | −0.271% | $3.2M | $8.0M | 20x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1779 | −0.093% | $19.2M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1775 | −0.127% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1768 | −0.187% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1769 | −0.178% | — | $16.4M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1784 | −0.051% | $97K | $195K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1734 | −0.472% | $2.3M | $810K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1750 | −0.339% | $39K | $672K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1784 | −0.051% | $99K | $846K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1762 | −0.239% | $21K | — | 3x | as long as short |
| Hyperliquid ZROlong | +0.0180% | 1h | 1.1790 | long leg | $37.3M | $5.5M | 5x | |
| Nado ZRO-PERP | +0.0195% | 1h | 1.1779 | −0.094% | $1.3M | $124K | 5x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0197% | 1h | 1.1775 | −0.124% | $259K | $407K | 25x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1760 | −0.251% | $3K | — | 100x | as long as short |
| Extended ZRO-USD | +0.0696% | 1h | 1.1755 | −0.296% | $784K | $591K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1102% | 1h | 1.1810 | +0.170% | $12K | $260K | 12x | as long as short |
OKX ZRO-USDT-SWAP
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
Kraken Futures PF_ZROUSD
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD
Injective ZRO/USDC PERP