Funding you earn now, next payment 04:00 UTC+0.0394%/8h= +43.2% APRnext payment +$0.49 per $10,000 · paid last 24h +0.036%
Price spread now: Hyperliquid against Polymarket Perps+0.034%7-day average +0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$380.379% of the position
Funding, last 7 days+0.213%+$21 on $10k
+Price spread, last 4 days (all we have)−0.265%−$27 · spread now +0.034%, 7d avg +0.015%
=Together, before fees−0.052%+ Points / potential airdropHyperliquid: Season 2 · farm board−$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: +$12 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.213% in total (about 11.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.49 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 | Polymarket Perps ZRO-USD | 1.1602 | 0.0100 | pay 0.0013% / 1h | 44m 46s | $98K | $844K | 5x |
| Short | Hyperliquid ZRO | 1.1606 | 0.0494 | get 0.0062% / 1h | 44m 46s | $36.7M | $5.5M | 5x |
Polymarket Perps ZRO-USD
Hyperliquid ZROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Polymarket Perps. 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
- $82.76
- Price spread: +0.034% → +0.015%
- $1.92
- Slippage, 4 orders
- −$20.87
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $46.8
- Costs to cover
- 0.379%
- Break-even
- 3.0 days
Slippage from Polymarket Perps: live order book, 38 min ago; Hyperliquid: live order book, 8 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 Polymarket Perps live order book, 38 min ago | 3.83 bp | 7.8 bp −$8 | 11.0 bp −$110 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 8 min ago | 1.72 bp | 12.7 bp −$13 | 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 | −0.0048% | 1h | 1.1602 | −0.002% | $7K | $3K | 5x | as long as short |
| dYdX ZRO-USD | +0.0003% | 1h | 1.1599 | −0.023% | $21K | $4K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0037% | 4h | 1.1596 | −0.052% | $20K | $5K | 10x | as long as short |
| Backpack ZRO_USDC_PERP | +0.0041% | 1h | 1.1597 | −0.043% | $97K | $196K | 20x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1624 | +0.193% | $4.3M | $1.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1598 | −0.034% | $156K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1607 | +0.047% | $135K | $178K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1601 | −0.004% | $21.7M | $29.8M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1598 | −0.034% | $17.7M | $13.9M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1609 | +0.060% | $3.1M | $7.9M | 20x | as long as short |
01 Exchange ZROUSD
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
Backpack ZRO_USDC_PERP
Lighter ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ZRO_USDT | +0.0100% | 4h | 1.1590 | −0.103% | $1.3M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1609 | +0.060% | $19.0M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1593 | −0.078% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1585 | −0.147% | $2.6M | $2.6M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1589 | −0.112% | — | $16.5M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1578 | −0.208% | $2.2M | $811K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1580 | −0.190% | $39K | $673K | 50x | as long as short |
| Polymarket Perps ZRO-USDlong | +0.0100% | 1h | 1.1602 | long leg | $98K | $844K | 5x | |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1580 | −0.190% | $20K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0157% | 4h | 1.1596 | −0.052% | $1.1M | $246K | 75x | as long as short |
| Nado ZRO-PERP | +0.0199% | 1h | 1.1599 | −0.029% | $1.3M | $125K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1593 | −0.075% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0384% | 1h | 1.1598 | −0.036% | $255K | $404K | 25x | as long as short |
| Hyperliquid ZROshort | +0.0494% | 1h | 1.1606 | +0.034% | $36.7M | $5.5M | 5x | |
| Extended ZRO-USD | +0.1144% | 1h | 1.1592 | −0.088% | $776K | $590K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1186% | 1h | 1.1640 | +0.328% | $12K | $260K | 12x | as long as short |
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Aevo ZRO-PERP
BloFin ZRO-USDT
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Extended ZRO-USD
Injective ZRO/USDC PERP