Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Binance−0.004%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$171as in the Funding arb table

Net, price: spread back to 7d avg − costs−$171as in the Price arb table

costs, in and out, $10k−$1741.740% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$3 on $10k

Price spread, last 4 days (all we have)−0.104%−$10 · spread now −0.004%, 7d avg −0.039%

Together, before fees−0.078%+ Points / potential airdropExtended: Active · farm board−$8 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: Extended is 0.035% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZORAUSDT	0.008383	0.0100	pay 0.0050% / 4h	2h 35m	$2.5M	$4.0M	50x
Short	Extended ZORA-USD	0.008383	0.0104	get 0.0013% / 1h	35m 16s	$6K	$169K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.004%Rate

Funding earned: $0.84
Price spread: −0.004% → −0.039%: $3.46
Slippage, 4 orders: −$158.99
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$169.69
Costs to cover: 1.740%
Break-even: 1421.1 days

Slippage from Binance: live order book, 2 min ago; Extended: live order book, 50 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, 2 min ago	0.60 bp	21.8 bp −$22	107.1 bp −$1,071	doesn't fit	doesn't fit
Sell Extended live order book, 50 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
dYdX ZORA-USD	0.0000%	1h	0.008373	−0.116%	$308	$5	5x	as long as short
Variational Omni ZORA	+0.0002%	4h	0.008358	−0.303%	$124K	$26K	—	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008386	+0.034%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008369	−0.169%	$22K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008372	−0.135%	$26K	$28K	5x	as long as short
Binance ZORAUSDTlong	+0.0100%	4h	0.008383	long leg	$2.5M	$4.0M	50x
Bybit ZORAUSDT	+0.0100%	4h	0.008372	−0.133%	$2.3M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008380	−0.037%	$762K	$970K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008370	−0.157%	$154K	$73K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008377	−0.073%	$9.7M	$229K	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	0.008381	−0.025%	$734K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008387	+0.046%	$732K	$207K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008390	+0.082%	$33K	$119K	10x	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008570	+2.229%	$1K	$1.2M	20x	as long as short
Extended ZORA-USDshort	+0.0104%	1h	0.008383	−0.004%	$6K	$169K	5x
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008370	−0.157%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0423%	1h	0.008406	+0.273%	$1.6M	$318K	3x	as long as short