Funding you earn now, next payment 00:00 UTC+0.0103%/8h= +11.3% APRnext payment +$0.13 per $10,000 · paid last 24h +0.034%
Price spread now: Hyperliquid against Polymarket Perps+0.034%7-day average +0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$360.361% of the position
Funding, last 7 days+0.220%+$22 on $10k
+Price spread, last 3 days (all we have)−0.235%−$23 · spread now +0.034%, 7d avg +0.015%
=Together, before fees−0.014%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps ZRO-USD | 1.1862 | 0.0100 | pay 0.0013% / 1h | 50m 36s | $89K | $815K | 5x |
| Short | Hyperliquid ZRO | 1.1866 | 0.0203 | get 0.0025% / 1h | 50m 36s | $37.7M | $6.2M | 5x |
Polymarket Perps ZRO-USD
Hyperliquid ZROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Polymarket Perps. 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
- $21.6
- Price spread: +0.034% → +0.015%
- $1.84
- Slippage, 4 orders
- −$19.07
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$12.64
- Costs to cover
- 0.361%
- Break-even
- 11.1 days
Slippage from Polymarket Perps: live order book, 52 min ago; Hyperliquid: live order book, 3 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 Polymarket Perps live order book, 52 min ago | 2.96 bp | 7.0 bp −$7 | 12.0 bp −$120 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 3 min ago | 0.42 bp | 13.1 bp −$13 | 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 | −0.0168% | 1h | 1.1854 | −0.070% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0015% | 4h | 1.1860 | −0.017% | $21K | $7K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1873 | +0.093% | $4.4M | $1.5M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1866 | +0.030% | $159K | $154K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1864 | +0.017% | $138K | $181K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1862 | +0.003% | $22.2M | $31.2M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1858 | −0.034% | $18.1M | $14.7M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1860 | −0.017% | $3.2M | $8.3M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1850 | −0.101% | $1.4M | $1.8M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1869 | +0.059% | $19.2M | $2.7M | 125x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
Lighter ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1863 | +0.008% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1860 | −0.017% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1857 | −0.042% | — | $10.7M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1854 | −0.064% | $2.3M | $850K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1850 | −0.101% | $37K | $687K | 50x | as long as short |
| Polymarket Perps ZRO-USDlong | +0.0100% | 1h | 1.1862 | long leg | $89K | $815K | 5x | |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1859 | −0.029% | $21K | — | 3x | as long as short |
| dYdX ZRO-USD | +0.0130% | 1h | 1.1845 | −0.139% | $21K | $2K | 5x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0131% | 1h | 1.1885 | +0.192% | $255K | $434K | 25x | as long as short |
| BloFin ZRO-USDT | +0.0158% | 4h | 1.1859 | −0.025% | $1.1M | $258K | 75x | as long as short |
| Backpack ZRO_USDC_PERP | +0.0165% | 1h | 1.1873 | +0.093% | $101K | $207K | 20x | as long as short |
| Hyperliquid ZROshort | +0.0203% | 1h | 1.1866 | +0.034% | $37.7M | $6.2M | 5x | |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1863 | +0.012% | $3K | — | 100x | as long as short |
| Nado ZRO-PERP | +0.0315% | 1h | 1.1858 | −0.032% | $1.3M | $125K | 5x | as long as short |
| Injective ZRO/USDC PERP | +0.1159% | 1h | 1.1900 | +0.320% | $12K | $260K | 12x | as long as short |
| Extended ZRO-USD | +0.2016% | 1h | 1.1862 | −0.002% | $784K | $558K | 10x | as long as short |
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Aevo ZRO-PERP
dYdX ZRO-USD
Kraken Futures PF_ZROUSD
BloFin ZRO-USDT
Backpack ZRO_USDC_PERP
GMX ZRO/USD [ETH-USDC]
Nado ZRO-PERP
Injective ZRO/USDC PERP
Extended ZRO-USD