ZORA arbitrage between HyperLiquid and Coinbase: we compare the price of ZORA on HyperLiquid (futures) and Coinbase (spot) in real time — the executable spread (buy at the ask, sell at the bid), basis, volume and deposit/withdrawal status. You can see whether the gap holds or is a one-second blip you would never get into.

About Zora

Infrastructure, Media, Smart Contract Platform, SocialFi

ZORA: Coinbase — deposit open, withdrawal open.

Open interest in ZORA right now — $5.8M: Bybit $1.4M, BingX $1.2M, Binance $1.2M, KuCoin $757.1K, HyperLiquid $532.0K. See OI ZORA.

About ZORA arbitrage

How do I read the ZORA spread?

The spread is how many percent higher ZORA trades on one exchange than on the other. We measure it at tradeable prices (ask/bid) net of fees; “net” is closer to what you actually keep.

Is this arbitrage worth taking?

Look past the spread: check volume, order-book depth and the deposit/withdrawal status on HyperLiquid and Coinbase. If deposits or withdrawals are shut, or the book is thin, the spread exists on paper but you cannot trade into it.

How do I get ZORA alerts?

Build a rule in the the builder with the spread threshold you want — the notification arrives as a Telegram direct message within seconds.