ZORA

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0333%/8h= +36.5% APRnext payment +$0.42 per $10,000 · paid last 24h +0.066%

Price spread now: GMX against Backpack−0.237%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. GMX is 0.237% cheaper against Backpack than usual: you would sell low and buy high (spread −0.237% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$24 on $10k: about 2.4 days of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ZORA_USDC_PERP	0.008430	0.0100	pay 0.0013% / 1h	53m 56s	$35K	$114K	10x
Short	GMX ZORA/USD [ETH-USDC]	0.008410	L +0.0230% / S −0.0433%	get 0.0054% / 1h	53m 56s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.237%Rate

Funding earned: $70.02
Price spread: −0.237% → 0.000%: −$23.72
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $24.29
Costs to cover: 0.220%
Break-even: 4.6 days

Slippage unknown: Backpack: live order book, 14 min ago; GMX: 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, 14 min ago	1.16 bp	12.7 bp −$13	219.1 bp −$2,191	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
dYdX ZORA-USD	0.0000%	1h	0.008417	−0.148%	$310	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008410	−0.237%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008413	−0.202%	$21K	$12K	3x	as long as short
Hyperliquid ZORA	+0.0100%	1h	0.008448	+0.214%	$1.6M	$316K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008420	−0.121%	$26K	$26K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008424	−0.069%	$2.5M	$4.1M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008419	−0.130%	$2.3M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008430	0.000%	$768K	$999K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008410	−0.237%	$154K	$78K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008436	+0.071%	$9.8M	$225K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZORAUSDTM	+0.0100%	4h	0.008419	−0.130%	$770K	$1.3M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008429	−0.012%	$722K	$216K	25x	as long as short
Backpack ZORA_USDC_PERPlong	+0.0100%	1h	0.008430	long leg	$35K	$114K	10x
Variational Omni ZORA	+0.0100%	4h	0.008414	−0.193%	$125K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008600	+2.017%	$2K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008441	+0.128%	$9K	$169K	5x	as long as short
GMX ZORA/USD [ETH-USDC]short	L +0.0230% / S −0.0433%	1h	0.008410	−0.237%	$1K	—	100x