Funding arb · Price arb /

ZORA

all ZORA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.010%

Price spread now: Extended against BingX+0.056%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$144as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1501.500% of the position

Long on BingX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)+0.218%+$22 · spread now +0.056%, 7d avg +0.008%

Together, before fees+0.279%+ Points / potential airdropExtended: Active · farm board+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.048% dearer against BingX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZORA-USDT	0.008460	0.0070	pay 0.0035% / 4h	3h 39m	—	$6.5M	—
Short	Extended ZORA-USD	0.008465	0.0104	get 0.0013% / 1h	39m 41s	$6K	$204K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BingX. 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 BingXbpFee ExtendedbpOrdersPrice spread, now +0.056%Rate

Funding earned: $7.14
Price spread: +0.056% → +0.008%: $4.77
Slippage, 4 orders: −$134.95
Fee BingX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$138.04
Costs to cover: 1.500%
Break-even: 142.3 days

Slippage from BingX: live order book, 12 min ago; Extended: live order book, 56 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 BingX live order book, 12 min ago	2.36 bp	14.4 bp −$14	64.3 bp −$643	639.8 bp −$64.0K	doesn't fit
Sell Extended live order book, 56 min ago	5.86 bp	81.0 bp −$81	449.7 bp −$4,497	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	0.008478	+0.210%	$292	$19	5x	as long as short
BingX ZORA-USDTlong	+0.0070%	4h	0.008460	long leg	—	$6.5M	—
Lighter ZORA	+0.0096%	1h	0.008455	−0.059%	$23K	$22K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008466	+0.069%	$26K	$17K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008466	+0.069%	$2.5M	$4.5M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008454	−0.071%	$2.3M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008460	0.000%	$759K	$990K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008460	0.000%	$154K	$88K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008465	+0.059%	$9.8M	$226K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008465	+0.059%	$749K	$1.7M	30x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZORAUSDT	+0.0100%	4h	0.008469	+0.106%	$694K	$310K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008468	+0.095%	$35K	$101K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008448	−0.141%	$126K	$25K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008650	+2.246%	$2K	$1.4M	20x	as long as short
Extended ZORA-USDshort	+0.0104%	1h	0.008465	+0.056%	$6K	$204K	5x
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008469	+0.106%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0254%	1h	0.008485	+0.296%	$1.6M	$322K	3x	as long as short