Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0109%/8h= +12.0% APRpaid last 24h +0.017%

Price spread now: Hyperliquid against MEXC+0.224%7-day average +0.092% · you sell dearer than you buy

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

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 7 days−0.230%−$23 · spread now +0.224%, 7d avg +0.092%

Together, before fees−0.203%+ Points / potential airdropHyperliquid: Season 2 · farm board−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.132% dearer against MEXC than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZORA_USDT	0.008482	0.0100	pay 0.0050% / 4h	3h 47m	$9.9M	$226K	50x
Short	Hyperliquid ZORA	0.008501	0.0209	get 0.0026% / 1h	47m 24s	$1.6M	$322K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.224%Rate

Funding earned: $22.98
Price spread: +0.224% → +0.092%: $13.24
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $23.22
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: MEXC: live order book, 1 min ago; Hyperliquid: live order book, 3 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 MEXC live order book, 1 min ago	1.77 bp	13.9 bp −$14	72.6 bp −$726	258.2 bp −$25.8K	doesn't fit
Sell Hyperliquid live order book, 3 min ago	0.59 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	0.008478	−0.049%	$292	$19	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008473	−0.106%	—	$6.5M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008467	−0.177%	$23K	$22K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008481	−0.011%	$26K	$17K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008483	+0.011%	$2.5M	$4.5M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008468	−0.165%	$2.3M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008474	−0.094%	$760K	$993K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008470	−0.141%	$155K	$88K	25x	as long as short
MEXC ZORA_USDTlong	+0.0100%	4h	0.008482	long leg	$9.9M	$226K	50x
KuCoin ZORAUSDTM	+0.0100%	4h	0.008481	−0.012%	$750K	$1.6M	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	0.008488	+0.071%	$695K	$310K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008478	−0.047%	$35K	$101K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008485	+0.037%	$127K	$25K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008660	+2.099%	$2K	$1.4M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008484	+0.024%	$9K	$200K	5x	as long as short
Hyperliquid ZORAshort	+0.0209%	1h	0.008501	+0.224%	$1.6M	$322K	3x
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008478	−0.047%	$1K	—	100x	as long as short