Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h +0.008%

Price spread now: Lighter against BingX−0.082%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 6 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 0.082% cheaper against BingX than usual: you would sell low and buy high (spread −0.082% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 10 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZORA-USDT	0.008555	0.0070	pay 0.0035% / 4h	1h 59m	—	$6.6M	—
Short	Lighter ZORA	0.008548	0.0096	get 0.0012% / 1h	59m 17s	$22K	$16K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.082%Rate

Funding earned: $5.46
Price spread: −0.082% → 0.000%: −$8.18
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$12.72
Costs to cover: 0.100%
Break-even: 23.3 days

Slippage unknown: BingX: live order book, 7 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 BingX live order book, 7 min ago	1.76 bp	14.6 bp −$15	63.7 bp −$637	511.9 bp −$51.2K	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
dYdX ZORA-USD	0.0000%	1h	0.008540	−0.169%	$314	—	5x	as long as short
BingX ZORA-USDTlong	+0.0070%	4h	0.008555	long leg	—	$6.6M	—
Lighter ZORAshort	+0.0096%	1h	0.008548	−0.082%	$22K	$16K	3x
Hyperliquid ZORA	+0.0100%	1h	0.008573	+0.210%	$1.6M	$307K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008561	+0.068%	$26K	$15K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008560	+0.060%	$2.6M	$4.3M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008540	−0.175%	$2.3M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008549	−0.070%	$772K	$998K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008550	−0.058%	$164K	$81K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008558	+0.035%	$10.0M	$232K	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	0.008557	+0.023%	$757K	$1.5M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008561	+0.070%	$700K	$284K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008557	+0.023%	$37K	$106K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008530	−0.293%	$127K	$25K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008740	+2.162%	$1K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008555	0.000%	$6K	$204K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008558	+0.035%	$1K	—	100x	as long as short