Funding you earn now, next payment 03:00 UTC−0.0273%/8h= −29.9% APRpaid last 24h −0.011%
Price spread now: Bybit against Hyperliquid−0.307%7-day average −0.174% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.021%−$2 on $10k
+Price spread, last 7 days+0.292%+$29 · spread now −0.307%, 7d avg −0.174%
=Together, before fees+0.271%+ Points / potential airdropHyperliquid: Season 2 · farm board+$27 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.132% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.174%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.021% in total (about -1.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ZORA | 0.008481 | 0.0373 | pay 0.0047% / 1h | 34m 32s | $1.6M | $319K | 3x |
| Short | Bybit ZORAUSDT | 0.008455 | 0.0100 | get 0.0050% / 4h | 1h 34m | $2.3M | $1.7M | 25x |
Hyperliquid ZORA
Bybit ZORAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$57.32
- Price spread: −0.307% → −0.174%
- −$13.23
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$90.55
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 6 min ago; Bybit: live order book, 2 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, 6 min ago | 2.37 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 1.78 bp | 34.3 bp −$34 | 102.0 bp −$1,020 | 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 | 0.008473 | −0.092% | $312 | $5 | 5x | as long as short |
| BingX ZORA-USDT | +0.0070% | 4h | 0.008456 | −0.295% | — | $6.6M | — | as long as short |
| Lighter ZORA | +0.0096% | 1h | 0.008467 | −0.165% | $22K | $14K | 3x | as long as short |
| Aster ZORAUSDT | +0.0100% | 4h | 0.008475 | −0.075% | $26K | $12K | 5x | as long as short |
| Binance ZORAUSDT | +0.0100% | 4h | 0.008464 | −0.197% | $2.5M | $4.0M | 50x | as long as short |
| Bybit ZORAUSDTshort | +0.0100% | 4h | 0.008455 | −0.307% | $2.3M | $1.7M | 25x | |
| OKX ZORA-USDT-SWAP | +0.0100% | 4h | 0.008452 | −0.342% | $767K | $964K | 10x | as long as short |
| Gate ZORA_USDT | +0.0100% | 4h | 0.008460 | −0.248% | $155K | $78K | 25x | as long as short |
| MEXC ZORA_USDT | +0.0100% | 4h | 0.008466 | −0.177% | $9.8M | $225K | 50x | as long as short |
| KuCoin ZORAUSDTM | +0.0100% | 4h | 0.008462 | −0.224% | $753K | $1.4M | 30x | as long as short |
dYdX ZORA-USD
BingX ZORA-USDT
Lighter ZORA
Aster ZORAUSDT
Binance ZORAUSDT
OKX ZORA-USDT-SWAP
Gate ZORA_USDT
MEXC ZORA_USDT
KuCoin ZORAUSDTMShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget ZORAUSDT | +0.0100% | 4h | 0.008469 | −0.141% | $723K | $215K | 25x | as long as short |
| Variational Omni ZORA | +0.0100% | 4h | 0.008452 | −0.344% | $125K | $25K | — | as long as short |
| SunX ZORA-USDT | +0.0100% | 4h | 0.008680 | +2.346% | $2K | $1.3M | 20x | as long as short |
| Extended ZORA-USD | +0.0104% | 1h | 0.008456 | −0.292% | $8K | $165K | 5x | as long as short |
| GMX ZORA/USD [ETH-USDC] | L +0.0231% / S −0.0433% | 1h | 0.008459 | −0.259% | $1K | — | 100x | as long as short |
| Backpack ZORA_USDC_PERP | +0.0297% | 1h | 0.008493 | +0.141% | $36K | $110K | 10x | as long as short |
| Hyperliquid ZORAlong | +0.0373% | 1h | 0.008481 | long leg | $1.6M | $319K | 3x |
Bitget ZORAUSDT
Variational Omni ZORA
SunX ZORA-USDT
Extended ZORA-USD
GMX ZORA/USD [ETH-USDC]
Backpack ZORA_USDC_PERP