ZORA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0197%/8h= +21.6% APRnext payment +$0.25 per $10,000 · paid last 24h −0.059%

Price spread now: dYdX against Backpack+0.155%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and dYdX is 0.155% dearer against Backpack than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ZORA_USDC_PERP	0.008363	−0.0197	get 0.0025% / 1h	47m 04s	$33K	$119K	10x
Short	dYdX ZORA-USD	0.008376	0	get 0.0000% / 1h	47m 04s	$308	$5	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 BackpackbpFee dYdXbpOrdersPrice spread, now +0.155%Rate

Funding earned: $41.33
Price spread: +0.155% → 0.000%: $15.54
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: $36.88
Costs to cover: 0.200%
Break-even: 0.8 days

Slippage unknown: Backpack: live order book, 41 min ago; dYdX: no order-book sample. 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 Backpack live order book, 41 min ago	1.78 bp	12.9 bp −$13	150.2 bp −$1,502	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Backpack ZORA_USDC_PERPlong	−0.0197%	1h	0.008363	long leg	$33K	$119K	10x
Variational Omni ZORA	−0.0005%	4h	0.008355	−0.101%	$124K	$26K	—	as long as short
dYdX ZORA-USDshort	0.0000%	1h	0.008376	+0.155%	$308	$5	5x
BingX ZORA-USDT	+0.0070%	4h	0.008361	−0.024%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008356	−0.084%	$22K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008370	+0.088%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008371	+0.095%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008355	−0.096%	$2.2M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008356	−0.084%	$759K	$962K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008360	−0.036%	$154K	$73K	25x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ZORA_USDT	+0.0100%	4h	0.008363	0.000%	$9.7M	$228K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008369	+0.072%	$735K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008365	+0.024%	$730K	$208K	25x	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008550	+2.236%	$1K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008368	+0.063%	$6K	$169K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008370	+0.084%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0443%	1h	0.008380	+0.203%	$1.6M	$318K	3x	as long as short