Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: Bitget against Hyperliquid−0.140%7-day average −0.116% · you buy dearer than you sell

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

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.143%−$14 · spread now −0.140%, 7d avg −0.116%

Together, before fees−0.152%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 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: Bitget is 0.024% cheaper against Hyperliquid than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.116%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZORA	0.008582	0.0100	pay 0.0013% / 1h	11m 12s	$1.6M	$315K	3x
Short	Bitget ZORAUSDT	0.008570	0.0100	get 0.0050% / 4h	3h 11m	$735K	$215K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.140%Rate

Funding earned: $0
Price spread: −0.140% → −0.116%: −$2.41
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$23.41
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 9 min ago; Bitget: live order book, 59 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 Hyperliquid live order book, 9 min ago	3.52 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 59 min ago	5.32 bp	27.9 bp −$28	103.9 bp −$1,039	doesn't fit	doesn't fit

ZORA 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
dYdX ZORA-USD	0.0000%	1h	0.008565	−0.201%	$315	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008561	−0.245%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008564	−0.210%	$22K	$11K	3x	as long as short
Hyperliquid ZORAlong	+0.0100%	1h	0.008582	long leg	$1.6M	$315K	3x
Aster ZORAUSDT	+0.0100%	4h	0.008564	−0.205%	$26K	$26K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008573	−0.105%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008556	−0.303%	$2.4M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008564	−0.210%	$781K	$1.0M	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008560	−0.256%	$156K	$77K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008574	−0.093%	$10.0M	$229K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZORAUSDTM	+0.0100%	4h	0.008570	−0.140%	$786K	$1.3M	30x	as long as short
Bitget ZORAUSDTshort	+0.0100%	4h	0.008570	−0.140%	$735K	$215K	25x
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008576	−0.070%	$33K	$114K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008555	−0.314%	$127K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008750	+1.958%	$2K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008568	−0.165%	$6K	$167K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008564	−0.210%	$1K	—	100x	as long as short