Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.015%

Price spread now: MEXC against Hyperliquid−0.164%7-day average −0.089% · you buy dearer than you sell

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

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 7 days+0.205%+$20 · spread now −0.164%, 7d avg −0.089%

Together, before fees+0.158%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 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: MEXC is 0.075% cheaper against Hyperliquid than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZORA	0.008538	0.0100	pay 0.0013% / 1h	3m 27s	$1.6M	$318K	3x
Short	MEXC ZORA_USDT	0.008524	0.0100	get 0.0050% / 4h	1h 03m	$9.9M	$236K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.164%Rate

Funding earned: $0
Price spread: −0.164% → −0.089%: −$7.51
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$20.51
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 7 min ago; MEXC: live order book, 5 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, 7 min ago	1.75 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.75 bp	17.1 bp −$17	79.0 bp −$790	243.2 bp −$24.3K	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	+0.0003%	1h	0.008519	−0.220%	$294	$19	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008513	−0.293%	—	$6.5M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008522	−0.187%	$20K	$19K	3x	as long as short
Hyperliquid ZORAlong	+0.0100%	1h	0.008538	long leg	$1.6M	$318K	3x
Aster ZORAUSDT	+0.0100%	4h	0.008522	−0.184%	$26K	$15K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008522	−0.184%	$2.5M	$4.5M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008503	−0.410%	$2.4M	$1.8M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008507	−0.363%	$769K	$1.0M	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008510	−0.328%	$164K	$86K	25x	as long as short
MEXC ZORA_USDTshort	+0.0100%	4h	0.008524	−0.164%	$9.9M	$236K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZORAUSDTM	+0.0100%	4h	0.008526	−0.141%	$754K	$1.6M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008526	−0.141%	$697K	$304K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008514	−0.281%	$36K	$105K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008546	+0.088%	$128K	$25K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008710	+2.015%	$1K	$1.4M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008526	−0.146%	$8K	$203K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008515	−0.269%	$1K	—	100x	as long as short