Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: OKX against Hyperliquid−0.166%7-day average −0.084% · you buy dearer than you sell

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

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 7 days+0.183%+$18 · spread now −0.166%, 7d avg −0.084%

Together, before fees+0.104%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 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: OKX is 0.083% 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 −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZORA	0.008426	0.0100	pay 0.0013% / 1h	16m 47s	$1.6M	$317K	3x
Short	OKX ZORA-USDT-SWAP	0.008412	0.0100	get 0.0050% / 4h	1h 16m	$765K	$973K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 OKXbpOrdersPrice spread, now −0.166%Rate

Funding earned: $0
Price spread: −0.166% → −0.084%: −$8.26
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$27.26
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 4 min ago; OKX: live order book, 64 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, 4 min ago	2.37 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 64 min ago	3.57 bp	40.3 bp −$40	117.6 bp −$1,176	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	0.008420	−0.066%	$310	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008412	−0.166%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008403	−0.273%	$22K	$11K	3x	as long as short
Hyperliquid ZORAlong	+0.0100%	1h	0.008426	long leg	$1.6M	$317K	3x
Aster ZORAUSDT	+0.0100%	4h	0.008417	−0.112%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008418	−0.095%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008404	−0.261%	$2.3M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAPshort	+0.0100%	4h	0.008412	−0.166%	$765K	$973K	10x
Gate ZORA_USDT	+0.0100%	4h	0.008410	−0.190%	$157K	$75K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008421	−0.059%	$9.8M	$226K	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	0.008413	−0.154%	$771K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008425	−0.012%	$733K	$209K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008405	−0.244%	$125K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008590	+1.946%	$1K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008414	−0.138%	$6K	$169K	5x	as long as short
Backpack ZORA_USDC_PERP	+0.0121%	1h	0.008419	−0.083%	$34K	$116K	10x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008416	−0.119%	$1K	—	100x	as long as short