Funding arb · Price arb /

ZORA

all ZORA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0047%/8h= +5.2% APRpaid last 24h +0.015%

Price spread now: Hyperliquid against Bybit+0.403%7-day average +0.178% · you sell dearer than you buy

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

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 7 days−0.499%−$50 · spread now +0.403%, 7d avg +0.178%

Together, before fees−0.471%+ Points / potential airdropHyperliquid: Season 2 · farm board−$47 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 0.225% dearer against Bybit than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.178%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZORAUSDT	0.008430	0.0100	pay 0.0050% / 4h	2h 16m	$2.3M	$1.7M	25x
Short	Hyperliquid ZORA	0.008464	0.0147	get 0.0018% / 1h	16m 12s	$1.6M	$308K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bybit. 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 BybitbpFee HyperliquidbpOrdersPrice spread, now +0.403%Rate

Funding earned: $9.89
Price spread: +0.403% → +0.178%: $22.53
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $12.42
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Bybit: live order book, 1 min ago; Hyperliquid: live order book, 4 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 Bybit live order book, 1 min ago	4.15 bp	36.8 bp −$37	109.5 bp −$1,095	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	2.37 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	0.008452	+0.258%	$311	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008445	+0.178%	—	$6.5M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008436	+0.071%	$22K	$15K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008447	+0.201%	$26K	$16K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008447	+0.202%	$2.5M	$4.3M	50x	as long as short
Bybit ZORAUSDTlong	+0.0100%	4h	0.008430	long leg	$2.3M	$1.7M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008438	+0.095%	$760K	$987K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008440	+0.119%	$162K	$83K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008445	+0.178%	$9.8M	$233K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008447	+0.202%	$749K	$1.5M	30x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZORAUSDT	+0.0100%	4h	0.008448	+0.214%	$686K	$278K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008447	+0.202%	$33K	$104K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008398	−0.385%	$125K	$25K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008640	+2.491%	$2K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008443	+0.160%	$8K	$199K	5x	as long as short
Hyperliquid ZORAshort	+0.0147%	1h	0.008464	+0.403%	$1.6M	$308K	3x
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008444	+0.166%	$1K	—	100x	as long as short