ZORA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0491%/8h= +53.8% APRnext payment +$0.61 per $10,000 · paid last 24h −0.033%

Price spread now: Lighter against Backpack−0.131%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 Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.131% cheaper against Backpack than usual: you would sell low and buy high (spread −0.131% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 21 hours of funding at the current rate (+$15 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ZORA_USDC_PERP	0.008369	−0.0395	get 0.0049% / 1h	54m 09s	$35K	$119K	10x
Short	Lighter ZORA	0.008358	0.0096	get 0.0012% / 1h	54m 09s	$22K	$11K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.131%Rate

Funding earned: $103.09
Price spread: −0.131% → 0.000%: −$13.14
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $79.95
Costs to cover: 0.100%
Break-even: 1.6 days

Slippage unknown: Backpack: live order book, 33 min ago; Lighter: 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, 33 min ago	1.78 bp	12.9 bp −$13	150.2 bp −$1,502	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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	−0.0395%	1h	0.008369	long leg	$35K	$119K	10x
dYdX ZORA-USD	0.0000%	1h	0.008394	+0.299%	$309	$5	5x	as long as short
Variational Omni ZORA	+0.0005%	4h	0.008374	+0.059%	$124K	$26K	—	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008364	−0.060%	—	$6.6M	—	as long as short
Lighter ZORAshort	+0.0096%	1h	0.008358	−0.131%	$22K	$11K	3x
Aster ZORAUSDT	+0.0100%	4h	0.008371	+0.019%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008370	+0.012%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008356	−0.155%	$2.2M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008367	−0.024%	$760K	$963K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008360	−0.108%	$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	0.008371	+0.024%	$9.7M	$228K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008369	0.000%	$734K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008368	−0.012%	$730K	$214K	25x	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008550	+2.163%	$1K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008370	+0.011%	$6K	$169K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008369	0.000%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0585%	1h	0.008387	+0.215%	$1.6M	$318K	3x	as long as short