Funding you earn now, next payment 22:00 UTC+0.0522%/8h= +57.1% APRnext payment +$0.65 per $10,000 · paid last 24h −0.030%
Price spread now: Extended against Backpack−0.112%7-day average −0.070% · you buy dearer than you sell
Net, funding: paid 7d − costs−$163as in the Funding arb table
Net, price: spread back to 7d avg − costs−$155as in the Price arb table
costs, in and out, $10k−$1511.509% of the position
Funding, last 7 days−0.120%−$12 on $10k
+Price spread, last 4 days (all we have)+0.399%+$40 · spread now −0.112%, 7d avg −0.070%
=Together, before fees+0.278%+ Points / potential airdropExtended: Active · farm board+$28 on $10k · with fees, hour by hour
Funding pays, the price is against you. Extended is 0.042% cheaper against Backpack than usual: you would sell low and buy high (spread −0.112% now, against its 7-day average of −0.070%). If the spread goes back, that is −$4 on $10k: about 7 hours of funding at the current rate (+$16 a day). Mind the row above: over the last 7 days funding on this pair cost −0.120%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.120% in total (about -6.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.65 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 | Backpack ZORA_USDC_PERP | 0.008392 | −0.0418 | get 0.0052% / 1h | 54m 54s | $36K | $118K | 10x |
| Short | Extended ZORA-USD | 0.008383 | 0.0104 | get 0.0013% / 1h | 54m 54s | $6K | $169K | 5x |
Backpack ZORA_USDC_PERP
Extended ZORA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against Backpack. 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
- $109.58
- Price spread: −0.112% → −0.070%
- −$4.25
- Slippage, 4 orders
- −$135.89
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$45.56
- Costs to cover
- 1.509%
- Break-even
- 9.9 days
Slippage from Backpack: live order book, 33 min ago; Extended: live order book, 31 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 Backpack live order book, 33 min ago | 1.78 bp | 12.9 bp −$13 | 150.2 bp −$1,502 | doesn't fit | doesn't fit |
| Sell Extended live order book, 31 min ago | 4.74 bp | 63.3 bp −$63 | 359.5 bp −$3,595 | doesn't fit | doesn't fit |
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 | −0.0418% | 1h | 0.008392 | long leg | $36K | $118K | 10x | |
| dYdX ZORA-USD | 0.0000% | 1h | 0.008394 | +0.024% | $309 | $5 | 5x | as long as short |
| Variational Omni ZORA | +0.0005% | 4h | 0.008374 | −0.215% | $124K | $26K | — | as long as short |
| BingX ZORA-USDT | +0.0070% | 4h | 0.008380 | −0.143% | — | $6.6M | — | as long as short |
| Lighter ZORA | +0.0096% | 1h | 0.008378 | −0.167% | $22K | $11K | 3x | as long as short |
| Aster ZORAUSDT | +0.0100% | 4h | 0.008390 | −0.022% | $26K | $28K | 5x | as long as short |
| Binance ZORAUSDT | +0.0100% | 4h | 0.008386 | −0.067% | $2.5M | $4.0M | 50x | as long as short |
| Bybit ZORAUSDT | +0.0100% | 4h | 0.008370 | −0.262% | $2.2M | $1.6M | 25x | as long as short |
| OKX ZORA-USDT-SWAP | +0.0100% | 4h | 0.008373 | −0.226% | $761K | $965K | 10x | as long as short |
| Gate ZORA_USDT | +0.0100% | 4h | 0.008380 | −0.143% | $155K | $72K | 25x | as long as short |
dYdX ZORA-USD
Variational Omni ZORA
BingX ZORA-USDT
Lighter ZORA
Aster ZORAUSDT
Binance ZORAUSDT
Bybit ZORAUSDT
OKX ZORA-USDT-SWAP
Gate ZORA_USDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ZORA_USDT | +0.0100% | 4h | 0.008385 | −0.083% | $9.7M | $228K | 50x | as long as short |
| KuCoin ZORAUSDTM | +0.0100% | 4h | 0.008387 | −0.060% | $736K | $1.1M | 30x | as long as short |
| Bitget ZORAUSDT | +0.0100% | 4h | 0.008390 | −0.024% | $732K | $214K | 25x | as long as short |
| SunX ZORA-USDT | +0.0100% | 4h | 0.008570 | +2.121% | $1K | $1.2M | 20x | as long as short |
| Extended ZORA-USDshort | +0.0104% | 1h | 0.008383 | −0.112% | $6K | $169K | 5x | |
| GMX ZORA/USD [ETH-USDC] | L +0.0230% / S −0.0433% | 1h | 0.008394 | +0.024% | $1K | — | 100x | as long as short |
| Hyperliquid ZORA | +0.0579% | 1h | 0.008398 | +0.071% | $1.6M | $318K | 3x | as long as short |
MEXC ZORA_USDT
KuCoin ZORAUSDTM
Bitget ZORAUSDT
SunX ZORA-USDT
GMX ZORA/USD [ETH-USDC]
Hyperliquid ZORA