Funding you earn now, next payment 22:00 UTC+0.0297%/8h= +32.5% APRpaid last 24h −0.029%
Price spread now: MEXC against Backpack+0.072%7-day average −0.034% · you sell dearer than you buy
Net, funding: paid 7d − costs−$66as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$520.517% of the position
Funding, last 7 days−0.141%−$14 on $10k
+Price spread, last 4 days (all we have)−0.165%−$17 · spread now +0.072%, 7d avg −0.034%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and MEXC is 0.106% dearer against Backpack than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.034%. Mind the row above: over the last 7 days funding on this pair cost −0.141%, 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 -0.141% in total (about -7.4% a year). A funding rate is set anew for every payment. 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 | 0.008363 | −0.0197 | get 0.0025% / 1h | 46m 22s | $33K | $119K | 10x |
| Short | MEXC ZORA_USDT | 0.008369 | 0.0100 | get 0.0050% / 4h | 2h 46m | $9.7M | $228K | 50x |
Backpack ZORA_USDC_PERP
MEXC ZORA_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $62.33
- Price spread: +0.072% → −0.034%
- $10.56
- Slippage, 4 orders
- −$37.7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- $21.19
- Costs to cover
- 0.517%
- Break-even
- 4.6 days
Slippage from Backpack: live order book, 41 min ago; MEXC: live order book, 2 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, 41 min ago | 1.78 bp | 12.9 bp −$13 | 150.2 bp −$1,502 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 2 min ago | 0.60 bp | 12.9 bp −$13 | 78.6 bp −$786 | 263.2 bp −$26.3K | 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 | −0.0197% | 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-USD | 0.0000% | 1h | 0.008366 | +0.036% | $308 | $5 | 5x | as long as short |
| BingX ZORA-USDT | +0.0070% | 4h | 0.008364 | +0.012% | — | $6.6M | — | as long as short |
| Lighter ZORA | +0.0096% | 1h | 0.008353 | −0.120% | $22K | $11K | 3x | as long as short |
| Aster ZORAUSDT | +0.0100% | 4h | 0.008366 | +0.036% | $26K | $28K | 5x | as long as short |
| Binance ZORAUSDT | +0.0100% | 4h | 0.008368 | +0.060% | $2.5M | $4.0M | 50x | as long as short |
| Bybit ZORAUSDT | +0.0100% | 4h | 0.008358 | −0.060% | $2.2M | $1.6M | 25x | as long as short |
| OKX ZORA-USDT-SWAP | +0.0100% | 4h | 0.008364 | +0.012% | $759K | $963K | 10x | as long as short |
| Gate ZORA_USDT | +0.0100% | 4h | 0.008360 | −0.036% | $154K | $73K | 25x | as long as short |
Variational Omni ZORA
dYdX ZORA-USD
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_USDTshort | +0.0100% | 4h | 0.008369 | +0.072% | $9.7M | $228K | 50x | |
| KuCoin ZORAUSDTM | +0.0100% | 4h | 0.008365 | +0.024% | $734K | $1.1M | 30x | as long as short |
| Bitget ZORAUSDT | +0.0100% | 4h | 0.008367 | +0.048% | $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 | 0.008367 | +0.042% | $6K | $169K | 5x | as long as short |
| GMX ZORA/USD [ETH-USDC] | L +0.0230% / S −0.0433% | 1h | 0.008369 | +0.072% | $1K | — | 100x | as long as short |
| Hyperliquid ZORA | +0.0447% | 1h | 0.008383 | +0.239% | $1.6M | $318K | 3x | as long as short |
KuCoin ZORAUSDTM
Bitget ZORAUSDT
SunX ZORA-USDT
Extended ZORA-USD
GMX ZORA/USD [ETH-USDC]
Hyperliquid ZORA