Funding you earn now, next payment 22:00 UTC+0.0149%/8h= +16.3% APRpaid last 24h +0.069%
Price spread now: Hyperliquid against Orderly−0.211%55s7-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
Funding pays, the price is against you. Hyperliquid is 0.211% cheaper against Orderly than usual: you would sell low and buy high (spread −0.211% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 4.7 days of funding at the current rate (+$4 a day). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_ZRO_USDC | 1.1858 | −0.0049 | get 0.0025% / 4h | 2h 13m | $21K | $7K | 10x |
| Short | Hyperliquid ZRO | 1.1833 | 0.0100 | get 0.0013% / 1h | 13m 30s | $37.6M | $6.7M | 5x |
Orderly PERP_ZRO_USDC
Hyperliquid ZROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Orderly. 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
- $31.3
- Price spread: −0.211% → 0.000%
- −$21.08
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$4.78
- Costs to cover
- 0.150%
- Break-even
- 8.1 days
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 10 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 10 min ago | 0.84 bp | 11.9 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.0408% | 1h | 1.1818 | −0.336% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDClong | −0.0049% | 4h | 1.1858 | long leg | $21K | $7K | 10x | |
| dYdX ZRO-USD | +0.0044% | 1h | 1.1845 | −0.111% | $21K | $2K | 5x | as long as short |
| BloFin ZRO-USDT | +0.0087% | 4h | 1.1868 | +0.084% | $1.1M | $266K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1843 | −0.126% | $4.5M | $1.4M | 5x | as long as short |
| Hyperliquid ZROshort | +0.0100% | 1h | 1.1833 | −0.211% | $37.6M | $6.7M | 5x | |
| Aster ZROUSDT | +0.0100% | 4h | 1.1860 | +0.018% | $158K | $160K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1842 | −0.138% | $143K | $193K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1830 | −0.235% | $22.3M | $33.1M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1822 | −0.304% | $18.1M | $15.5M | 50x | as long as short |
01 Exchange ZROUSD
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 | 1.1817 | −0.346% | $3.2M | $9.0M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1840 | −0.152% | $1.3M | $2.0M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1839 | −0.160% | $19.1M | $3.5M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1861 | +0.025% | $3.0M | $1.8M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1824 | −0.287% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1832 | −0.219% | — | $10.9M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1863 | +0.042% | $95K | $206K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1844 | −0.114% | $2.3M | $861K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1850 | −0.067% | $37K | $681K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1837 | −0.177% | $88K | $919K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1857 | −0.011% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0161% | 1h | 1.1827 | −0.261% | $1.3M | $131K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1869 | +0.095% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0316% | 1h | 1.1875 | +0.143% | $252K | $569K | 25x | as long as short |
| Injective ZRO/USDC PERP | +0.1237% | 1h | 1.1900 | +0.354% | $12K | $175K | 12x | as long as short |
| Extended ZRO-USD | +0.1888% | 1h | 1.1831 | −0.226% | $784K | $556K | 10x | as long as short |
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
Extended ZRO-USD