Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h +0.020%

Price spread now: Hyperliquid against BingX+0.269%7-day average +0.108% · you sell dearer than you buy

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

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 7 days−0.232%−$23 · spread now +0.269%, 7d avg +0.108%

Together, before fees−0.163%+ Points / potential airdropHyperliquid: Season 2 · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.161% dearer against BingX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.108%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZORA-USDT	0.008558	0.0070	pay 0.0035% / 4h	3h 11m	—	$6.6M	—
Short	Hyperliquid ZORA	0.008581	0.0100	get 0.0013% / 1h	11m 47s	$1.6M	$315K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.269%Rate

Funding earned: $6.3
Price spread: +0.269% → +0.108%: $16.11
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $3.41
Costs to cover: 0.190%
Break-even: 3.2 days

Slippage unknown: BingX: live order book, 10 min ago; Hyperliquid: live order book, 9 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 BingX live order book, 10 min ago	1.77 bp	16.0 bp −$16	55.6 bp −$556	560.3 bp −$56.0K	doesn't fit
Sell Hyperliquid live order book, 9 min ago	3.52 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	0.008565	+0.079%	$315	$5	5x	as long as short
BingX ZORA-USDTlong	+0.0070%	4h	0.008558	long leg	—	$6.6M	—
Lighter ZORA	+0.0096%	1h	0.008550	−0.093%	$22K	$11K	3x	as long as short
Hyperliquid ZORAshort	+0.0100%	1h	0.008581	+0.269%	$1.6M	$315K	3x
Aster ZORAUSDT	+0.0100%	4h	0.008561	+0.037%	$26K	$26K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008564	+0.074%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008552	−0.070%	$2.4M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008561	+0.035%	$781K	$1.0M	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008550	−0.093%	$156K	$77K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008566	+0.093%	$10.0M	$229K	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	0.008557	−0.012%	$789K	$1.3M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008564	+0.070%	$734K	$215K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008562	+0.047%	$33K	$116K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008496	−0.722%	$126K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008750	+2.244%	$2K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008556	−0.028%	$6K	$167K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008557	−0.012%	$1K	—	100x	as long as short