Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: SunX against Hyperliquid+2.062%7-day average +2.022% · you sell dearer than you buy

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

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.750%+$75 · spread now +2.062%, 7d avg +2.022%

Together, before fees+0.750%+ Points / potential airdropHyperliquid: Season 2 · farm board+$75 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: SunX is 0.040% dearer against Hyperliquid than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +2.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZORA	0.008534	0.0100	pay 0.0013% / 1h	59m 16s	$1.6M	$340K	3x
Short	SunX ZORA-USDT	0.008710	0.0100	get 0.0050% / 4h	2h 59m	$1K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.062%Rate

Funding earned: $0
Price spread: +2.062% → +2.022%: $4.04
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$12.96
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 1 min ago; SunX: 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, 1 min ago	1.76 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	251.72 bp	doesn't fit	doesn't fit	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	0.008533	−0.006%	$294	$19	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008511	−0.270%	—	$6.5M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008510	−0.281%	$23K	$21K	3x	as long as short
Hyperliquid ZORAlong	+0.0100%	1h	0.008534	long leg	$1.6M	$340K	3x
Aster ZORAUSDT	+0.0100%	4h	0.008522	−0.136%	$26K	$17K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008514	−0.239%	$2.5M	$4.5M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008499	−0.410%	$2.3M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008502	−0.375%	$764K	$988K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008520	−0.164%	$155K	$81K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008518	−0.187%	$9.9M	$217K	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	0.008525	−0.105%	$747K	$1.7M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008517	−0.199%	$700K	$311K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008526	−0.094%	$34K	$103K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008512	−0.253%	$126K	$26K	—	as long as short
SunX ZORA-USDTshort	+0.0100%	4h	0.008710	+2.062%	$1K	$1.4M	20x
Extended ZORA-USD	+0.0104%	1h	0.008512	−0.253%	$11K	$207K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008526	−0.094%	$1K	—	100x	as long as short