ZORA: Bybit → Hyperliquid

Long on the venue with the lower rate, short on the venue with the higher one. Income comes from the rate difference; price exposure cancels out.

Spread

+13%

APR right now

Price gap

+0.118%

between legs

Average spread

+13%

over 24h from our own samples

Over 7 days

+13%

samples: 108

BybitLONG

Bid / ask0.008478 / 0.00848

Mark price0.008476

Volume 24h$1.63M

Open interest$2.34M

Rate+0.0050%

APR+11%

Interval / next payout4h / 3h 22m

Bybit

HyperliquidSHORT

Bid / ask0.00849 / 0.008517

Mark price0.008499

Volume 24h$314.67K

Open interest$1.59M

Rate+0.0027%

APR+24%

Interval / next payout1h / 22m

Hyperliquid

Spread from our samples

spread over the period: from 0% to 60% APR, 108 samples

The rate can flip at any moment, and then the position starts costing money. Size is limited by the weaker leg, and entry and exit both pay fees on two venues. Not financial advice.