Funding you earn now, next payment 20:00 UTC−0.0941%/8hnext payment −$1.18 per $10,000 · paid last 24h +0.004%
Price spread now: Hyperliquid against Injective−0.294%7-day average +0.099% · you buy dearer than you sell
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$141as in the Price arb table
costs, in and out, $10k−$1011.013% of the position
Funding, last 7 days+0.393%+$39 on $10k
+Price spread, last 3 days (all we have)+1.007%+$101 · spread now −0.294%, 7d avg +0.099%
=Together, before fees+1.399%+ Points / potential airdropHyperliquid: Season 2 · farm board+$140 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$28 a day on $10k at the current rate, and Hyperliquid is 0.393% cheaper against Injective than usual: you would sell low and buy high (−$39 if the spread goes back to its 7-day average of +0.099%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.393%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.393% in total (about 20.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.18 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective ZRO/USDC PERP | 1.1810 | 0.1041 | pay 0.0130% / 1h | 33m 21s | $12K | $145K | 12x |
| Short | Hyperliquid ZRO | 1.1775 | 0.0100 | get 0.0013% / 1h | 33m 21s | $37.4M | $8.3M | 5x |
Injective ZRO/USDC PERP
Hyperliquid ZROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Injective. 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
- −$197.55
- Price spread: −0.294% → +0.099%
- −$39.32
- Slippage, 4 orders
- −$92.3
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$338.19
- Costs to cover
- 1.013%
- Break-even
- never at this rate
Slippage from Injective: live order book, 8 min ago; Hyperliquid: live order book, 7 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 Injective live order book, 8 min ago | 34.04 bp | 34.1 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 7 min ago | 1.28 bp | 9.7 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
ZRO on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange ZROUSD | −0.0352% | 1h | 1.1772 | −0.325% | $7K | $3K | 5x | as long as short |
| OKX ZRO-USDT-SWAP | −0.0270% | 4h | 1.1768 | −0.356% | $3.4M | $8.5M | 20x | as long as short |
| Kraken Futures PF_ZROUSD | −0.0163% | 1h | 1.1773 | −0.309% | $252K | $583K | 25x | as long as short |
| Bybit ZROUSDT | −0.0011% | 4h | 1.1749 | −0.517% | $18.1M | $17.0M | 50x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0008% | 4h | 1.1767 | −0.364% | $21K | $7K | 10x | as long as short |
| Variational Omni ZRO | −0.0004% | 4h | 1.1681 | −1.096% | $2.2M | $900K | — | as long as short |
| dYdX ZRO-USD | +0.0002% | 1h | 1.1768 | −0.355% | $21K | $2K | 5x | as long as short |
| BloFin ZRO-USDT | +0.0088% | 4h | 1.1700 | −0.931% | $1.1M | $272K | 75x | as long as short |
| Hyperliquid ZROshort | +0.0100% | 1h | 1.1775 | −0.294% | $37.4M | $8.3M | 5x | |
| Aster ZROUSDT | +0.0100% | 4h | 1.1771 | −0.330% | — | $165K | 10x | as long as short |
01 Exchange ZROUSD
OKX ZRO-USDT-SWAP
Kraken Futures PF_ZROUSD
Bybit ZROUSDT
Orderly PERP_ZRO_USDC
Variational Omni ZRO
dYdX ZRO-USD
BloFin ZRO-USDT
Aster ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica ZRO | +0.0100% | 1h | 1.1767 | −0.364% | $141K | $209K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1760 | −0.419% | — | $35.4M | 75x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1750 | −0.508% | $1.3M | $2.2M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1763 | −0.398% | $18.0M | $3.8M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1758 | −0.440% | $2.6M | $1.5M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1765 | −0.381% | $2.7M | $2.7M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1753 | −0.483% | — | $11.0M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1767 | −0.364% | $89K | $201K | 20x | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1740 | −0.593% | $37K | $680K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1770 | −0.339% | $79K | $942K | 5x | as long as short |
| Extended ZRO-USD | +0.0104% | 1h | 1.1767 | −0.362% | $776K | $565K | 10x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1767 | −0.361% | $21K | — | 3x | as long as short |
| Lighter ZRO | +0.0232% | 1h | 1.1785 | −0.210% | $4.7M | $1.2M | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1773 | −0.316% | $3K | — | 100x | as long as short |
| Nado ZRO-PERP | +0.0316% | 1h | 1.1764 | −0.391% | $1.3M | $134K | 5x | as long as short |
| Injective ZRO/USDC PERPlong | +0.1041% | 1h | 1.1810 | long leg | $12K | $145K | 12x |
Pacifica ZRO
Binance ZROUSDT
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Extended ZRO-USD
Aevo ZRO-PERP
Lighter ZRO
GMX ZRO/USD [ETH-USDC]
Nado ZRO-PERP