Funding you earn now, next payment 04:00 UTC−0.0147%/8h= −16.1% APRpaid last 24h −0.074%
Price spread now: Bybit against Hyperliquid−0.268%7-day average −0.124% · you buy dearer than you sell
Net, funding: paid 7d − costs−$131as in the Funding arb table
Net, price: spread back to 7d avg − costs−$133as in the Price arb table
costs, in and out, $10k−$1181.185% of the position
Funding, last 7 days−0.122%−$12 on $10k
+Price spread, last 7 days+0.224%+$22 · spread now −0.268%, 7d avg −0.124%
=Together, before fees+0.103%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.144% cheaper against Hyperliquid than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.124%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ZEN | 7.5984 | 0.0247 | pay 0.0031% / 1h | 51m 53s | $2.4M | $1.3M | 5x |
| Short | Bybit ZENUSDT | 7.5780 | 0.0100 | get 0.0100% / 8h | 4h 51m | $4.5M | $5.8M | 75x |
Hyperliquid ZEN
Bybit ZENUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$30.91
- Price spread: −0.268% → −0.124%
- −$14.44
- Slippage, 4 orders
- −$98.5
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$163.85
- Costs to cover
- 1.185%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; Bybit: live order book, 1 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, 9 min ago | 1.63 bp | 17.9 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 2.64 bp | 44.5 bp −$45 | 122.2 bp −$1,222 | doesn't fit | doesn't fit |
ZEN 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni ZENUSDT | −0.0247% | 1h | 7.5930 | −0.071% | $26K | $688K | 50x | as long as short |
| dYdX ZEN-USD | 0.0000% | 1h | 7.6224 | +0.315% | $9K | — | 5x | as long as short |
| OKX ZEN-USDT-SWAP | +0.0098% | 4h | 7.5770 | −0.282% | $2.3M | $5.4M | 50x | as long as short |
| Aster ZENUSDT | +0.0100% | 8h | 7.6055 | +0.094% | $53K | $374K | 10x | as long as short |
| Binance ZENUSDT | +0.0100% | 8h | 7.5821 | −0.215% | $11.0M | $30.0M | 75x | as long as short |
| Bybit ZENUSDTshort | +0.0100% | 8h | 7.5780 | −0.268% | $4.5M | $5.8M | 75x | |
| MEXC ZEN_USDT | +0.0100% | 8h | 7.5930 | −0.071% | $11.8M | $5.0M | 200x | as long as short |
| KuCoin ZENUSDTM | +0.0100% | 8h | 7.6000 | +0.021% | $4.1M | $4.4M | 50x | as long as short |
| Bitget ZENUSDT | +0.0100% | 8h | 7.5790 | −0.255% | $2.8M | $3.2M | 50x | as long as short |
| BingX ZEN-USDT | +0.0100% | 8h | 7.5810 | −0.229% | — | $3.2M | — | as long as short |
ApeX Omni ZENUSDT
dYdX ZEN-USD
OKX ZEN-USDT-SWAP
Aster ZENUSDT
Binance ZENUSDT
MEXC ZEN_USDT
KuCoin ZENUSDTM
Bitget ZENUSDT
BingX ZEN-USDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ZEN | +0.0100% | 8h | 7.6182 | +0.261% | $51K | $85K | — | as long as short |
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.6164 | +0.236% | $570K | $1.9M | 10x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.5970 | −0.018% | $2K | $1.3M | 20x | as long as short |
| Extended ZEN-USD | +0.0104% | 1h | 7.5899 | −0.112% | $24K | $127K | 5x | as long as short |
| BloFin ZEN-USDT | +0.0220% | 8h | 7.6140 | +0.205% | $846K | $1.6M | 75x | as long as short |
| Hyperliquid ZENlong | +0.0247% | 1h | 7.5984 | long leg | $2.4M | $1.3M | 5x | |
| Kraken Futures PF_ZENUSD | +0.3108% | 1h | 7.6262 | +0.366% | $499K | $1.0M | 25x | as long as short |
Variational Omni ZEN
GRVT ZEN_USDT_Perp
SunX ZEN-USDT
Extended ZEN-USD
BloFin ZEN-USDT
Kraken Futures PF_ZENUSD