Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h −0.004%
Price spread now: Hyperliquid against Lighter−0.079%7-day average −0.049% · you buy dearer than you sell
Net, funding: paid 7d − costs−$72as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$480.477% of the position
Funding, last 7 days−0.245%−$25 on $10k
+Price spread, last 7 days−0.121%−$12 · spread now −0.079%, 7d avg −0.049%
=Together, before fees−0.366%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board−$37 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.030% cheaper against Lighter than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.049%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ZRO | 1.1674 | 0.0096 | pay 0.0012% / 1h | 9m 25s | $4.3M | $1.2M | 5x |
| Short | Hyperliquid ZRO | 1.1665 | 0.0100 | get 0.0013% / 1h | 9m 25s | $36.9M | $5.4M | 5x |
Lighter ZRO
Hyperliquid ZROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Lighter. 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
- $0.84
- Price spread: −0.079% → −0.049%
- −$2.98
- Slippage, 4 orders
- −$38.7
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$49.84
- Costs to cover
- 0.477%
- Break-even
- 422.4 days
Slippage from Lighter: live order book, 3 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 Lighter live order book, 3 min ago | 7.26 bp | 17.0 bp −$17 | 91.4 bp −$914 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 4 min ago | 0.85 bp | 12.3 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
ZRO on 25 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 | −0.0224% | 1h | 1.1634 | −0.343% | $7K | $3K | 5x | as long as short |
| Bybit ZROUSDT | −0.0045% | 4h | 1.1638 | −0.310% | $17.8M | $13.9M | 50x | as long as short |
| dYdX ZRO-USD | +0.0003% | 1h | 1.1661 | −0.114% | $21K | $3K | 5x | as long as short |
| Gate ZRO_USDT | +0.0006% | 4h | 1.1650 | −0.207% | $1.3M | $1.5M | 75x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0031% | 4h | 1.1656 | −0.156% | $20K | $5K | 10x | as long as short |
| Lighter ZROlong | +0.0096% | 1h | 1.1674 | long leg | $4.3M | $1.2M | 5x | |
| Hyperliquid ZROshort | +0.0100% | 1h | 1.1665 | −0.079% | $36.9M | $5.4M | 5x | |
| Aster ZROUSDT | +0.0100% | 4h | 1.1660 | −0.123% | $157K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1656 | −0.152% | $136K | $167K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1647 | −0.234% | $21.8M | $29.7M | 75x | as long as short |
01 Exchange ZROUSD
Bybit ZROUSDT
dYdX ZRO-USD
Gate ZRO_USDT
Orderly PERP_ZRO_USDC
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDTShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1642 | −0.276% | $3.2M | $7.9M | 20x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1650 | −0.207% | $19.0M | $2.8M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1659 | −0.130% | $2.3M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1652 | −0.190% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1647 | −0.233% | — | $16.5M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1655 | −0.164% | $96K | $211K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1662 | −0.101% | $2.3M | $815K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1680 | +0.050% | $39K | $674K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1656 | −0.156% | $91K | $838K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1657 | −0.149% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0231% | 1h | 1.1654 | −0.174% | $1.3M | $124K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1654 | −0.171% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0372% | 1h | 1.1678 | +0.031% | $250K | $400K | 25x | as long as short |
| Extended ZRO-USD | +0.0976% | 1h | 1.1648 | −0.224% | $780K | $591K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1213% | 1h | 1.1730 | +0.478% | $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
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Extended ZRO-USD
Injective ZRO/USDC PERP