Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Binance+0.067%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1291.293% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 4 days (all we have)−0.185%−$19 · spread now +0.067%, 7d avg +0.003%

Together, before fees−0.148%−$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.063% dearer against Binance than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZORAUSDT	0.008497	0.0100	pay 0.0050% / 4h	2h 42m	$2.5M	$4.3M	50x
Short	Bitget ZORAUSDT	0.008503	0.0100	get 0.0050% / 4h	2h 42m	$681K	$277K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → +0.003%: $6.34
Slippage, 4 orders: −$107.28
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$122.94
Costs to cover: 1.293%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; Bitget: live order book, 3 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 Binance live order book, 9 min ago	2.31 bp	28.6 bp −$29	130.0 bp −$1,300	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	5.87 bp	31.4 bp −$31	133.8 bp −$1,338	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
dYdX ZORA-USD	0.0000%	1h	0.008511	+0.159%	$313	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008503	+0.067%	—	$6.5M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008494	−0.039%	$22K	$15K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008507	+0.119%	$26K	$16K	5x	as long as short
Binance ZORAUSDTlong	+0.0100%	4h	0.008497	long leg	$2.5M	$4.3M	50x
Bybit ZORAUSDT	+0.0100%	4h	0.008479	−0.216%	$2.3M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008481	−0.192%	$770K	$975K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008500	+0.031%	$163K	$82K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008501	+0.043%	$9.9M	$223K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008510	+0.149%	$745K	$1.5M	30x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZORAUSDTshort	+0.0100%	4h	0.008503	+0.067%	$681K	$277K	25x
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008496	−0.016%	$34K	$106K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008485	−0.151%	$127K	$24K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008690	+2.267%	$2K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008491	−0.070%	$7K	$196K	5x	as long as short
Hyperliquid ZORA	+0.0114%	1h	0.008519	+0.255%	$1.6M	$306K	3x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008490	−0.086%	$1K	—	100x	as long as short