Funding you earn now, next payment 03:00 UTC+0.1002%/8h= +109.7% APRnext payment +$1.25 per $10,000 · paid last 24h +0.115%
Price spread now: Injective against Hyperliquid−0.230%73s7-day average −0.091% · you buy dearer than you sell
Net, funding: paid 7d − costs−$133as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1031.026% of the position
Funding, last 7 days−0.303%−$30 on $10k
+Price spread, last 4 days (all we have)−1.325%−$132 · spread now −0.230%, 7d avg −0.091%
=Together, before fees−1.628%+ Points / potential airdropHyperliquid: Season 2 · farm board−$163 on $10k · with fees, hour by hour
Funding pays, the price is against you. Injective is 0.138% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.230% now, against its 7-day average of −0.091%). If the spread goes back, that is −$14 on $10k: about 11 hours of funding at the current rate (+$30 a day). Mind the row above: over the last 7 days funding on this pair cost −0.303%, so the current rate has only just turned in your favour. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.303% in total (about -15.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.25 per $10,000. 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 ZRO | 1.1757 | 0.0100 | pay 0.0013% / 1h | 35m 50s | $37.2M | $5.5M | 5x |
| Short | Injective ZRO/USDC PERP | 1.1730 | 0.1102 | get 0.0138% / 1h | 35m 50s | $12K | $260K | 12x |
Hyperliquid ZRO
Injective ZRO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $210.45
- Price spread: −0.230% → −0.091%
- −$13.82
- Slippage, 4 orders
- −$93.59
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $94.02
- Costs to cover
- 1.026%
- Break-even
- 3.9 days
Slippage from Hyperliquid: live order book, 7 min ago; Injective: live order book, 28 min ago.
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 | 1.28 bp | 10.2 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective live order book, 28 min ago | 34.19 bp | 44.8 bp −$45 | doesn't fit | doesn't fit | doesn't fit |
ZRO on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange ZROUSD | −0.0528% | 1h | 1.1710 | −0.396% | $7K | $3K | 5x | as long as short |
| Bybit ZROUSDT | −0.0013% | 4h | 1.1729 | −0.238% | $17.9M | $14.1M | 50x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1708 | −0.414% | $21K | $3K | 5x | as long as short |
| Gate ZRO_USDT | +0.0032% | 4h | 1.1710 | −0.400% | $1.3M | $1.5M | 75x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0036% | 4h | 1.1738 | −0.162% | $21K | $5K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1756 | −0.008% | $4.4M | $1.2M | 5x | as long as short |
| Hyperliquid ZROlong | +0.0100% | 1h | 1.1757 | long leg | $37.2M | $5.5M | 5x | |
| Aster ZROUSDT | +0.0100% | 4h | 1.1736 | −0.180% | $158K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1707 | −0.427% | $136K | $175K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1736 | −0.180% | $22.0M | $29.9M | 75x | as long as short |
01 Exchange ZROUSD
Bybit ZROUSDT
dYdX ZRO-USD
Gate ZRO_USDT
Orderly PERP_ZRO_USDC
Lighter ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1739 | −0.153% | $3.2M | $8.0M | 20x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1738 | −0.162% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1736 | −0.179% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1732 | −0.213% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1733 | −0.204% | — | $16.5M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1745 | −0.102% | $95K | $211K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1732 | −0.211% | $2.3M | $813K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1680 | −0.655% | $39K | $674K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1724 | −0.281% | $100K | $850K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1725 | −0.270% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0113% | 4h | 1.1700 | −0.485% | $1.1M | $249K | 75x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0197% | 1h | 1.1751 | −0.051% | $258K | $407K | 25x | as long as short |
| Nado ZRO-PERP | +0.0201% | 1h | 1.1711 | −0.392% | $1.3M | $127K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1742 | −0.128% | $3K | — | 100x | as long as short |
| Extended ZRO-USD | +0.0584% | 1h | 1.1741 | −0.138% | $784K | $591K | 10x | as long as short |
| Injective ZRO/USDC PERPshort | +0.1102% | 1h | 1.1730 | −0.230% | $12K | $260K | 12x |
OKX ZRO-USDT-SWAP
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
Kraken Futures PF_ZROUSD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD