Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.015%

Price spread now: Hyperliquid against KuCoin+0.141%7-day average +0.040% · you sell dearer than you buy

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

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 7 days−0.219%−$22 · spread now +0.141%, 7d avg +0.040%

Together, before fees−0.166%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.102% dearer against KuCoin than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZORAUSDTM	0.008482	0.0100	pay 0.0050% / 4h	3h 26m	$752K	$1.5M	30x
Short	Hyperliquid ZORA	0.008494	0.0100	get 0.0013% / 1h	26m 16s	$1.6M	$312K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.141%Rate

Funding earned: $0
Price spread: +0.141% → +0.040%: $10.17
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$10.83
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	5.88 bp	65.2 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	2.35 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	0.008488	+0.073%	$312	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008474	−0.094%	—	$6.5M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008479	−0.035%	$22K	$14K	3x	as long as short
Hyperliquid ZORAshort	+0.0100%	1h	0.008494	+0.141%	$1.6M	$312K	3x
Aster ZORAUSDT	+0.0100%	4h	0.008488	+0.075%	$26K	$12K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008481	−0.009%	$2.5M	$4.1M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008462	−0.236%	$2.3M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008472	−0.118%	$767K	$949K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008470	−0.141%	$158K	$79K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008482	0.000%	$9.8M	$224K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZORAUSDTMlong	+0.0100%	4h	0.008482	long leg	$752K	$1.5M	30x
Bitget ZORAUSDT	+0.0100%	4h	0.008489	+0.083%	$736K	$226K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008504	+0.260%	$126K	$24K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008660	+2.099%	$1K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008478	−0.047%	$7K	$165K	5x	as long as short
Backpack ZORA_USDC_PERP	+0.0106%	1h	0.008490	+0.094%	$37K	$105K	10x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008480	−0.024%	$1K	—	100x	as long as short