Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against Hyperliquid−0.076%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 6 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 · Pacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.076% cheaper against Hyperliquid than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZK	0.01183	0.0100	pay 0.0013% / 1h	56m 28s	$589K	$188K	5x
Short	Pacifica ZK	0.01182	0.0100	get 0.0013% / 1h	56m 28s	$30K	$3K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee PacificabpOrdersPrice spread, now −0.076%Rate

Funding earned: $0
Price spread: −0.076% → 0.000%: −$7.61
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$24.61
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 33 min ago; Pacifica: 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, 33 min ago	2.10 bp	23.4 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: 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.

ZK on 17 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
OKX ZK-USDT-SWAP	+0.0001%	4h	0.01181	−0.152%	$1.0M	$2.2M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.099%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01184	+0.101%	$136K	$181K	8x	as long as short
Hyperliquid ZKlong	+0.0100%	1h	0.01183	long leg	$589K	$188K	5x
Aster ZKUSDT	+0.0100%	4h	0.01183	+0.018%	$32K	$21K	10x	as long as short
Pacifica ZKshort	+0.0100%	1h	0.01182	−0.076%	$30K	$3K	5x
Binance ZKUSDT	+0.0100%	4h	0.01183	+0.023%	$4.9M	$8.3M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01181	−0.203%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01183	0.000%	$326K	$239K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01181	−0.169%	$977K	$1.4M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01183	0.000%	$1.5M	$841K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01183	−0.025%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01184	+0.105%	$58K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01184	+0.085%	$161K	$2.4M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01184	+0.085%	$8K	$618K	50x	as long as short
BloFin ZK-USDT	+0.0152%	4h	0.01183	−0.042%	$217K	$21K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1324%	1h	0.01187	+0.352%	$195K	$38K	25x	as long as short