Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against Bitget−0.238%7-day average −0.122% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

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

costs, in and out, $10k−$1111.115% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 4 days (all we have)+0.588%+$59 · spread now −0.238%, 7d avg −0.122%

Together, before fees+0.559%+$56 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: Bybit is 0.116% cheaper against Bitget than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.122%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZORAUSDT	0.008390	0.0100	pay 0.0050% / 4h	2h 54m	$732K	$214K	25x
Short	Bybit ZORAUSDT	0.008370	0.0100	get 0.0050% / 4h	2h 54m	$2.2M	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee BybitbpOrdersPrice spread, now −0.238%Rate

Funding earned: $0
Price spread: −0.238% → −0.122%: −$11.62
Slippage, 4 orders: −$88.48
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$123.1
Costs to cover: 1.115%
Break-even: never at this rate

Slippage from Bitget: live order book, 30 min ago; Bybit: 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 Bitget live order book, 30 min ago	9.49 bp	42.2 bp −$42	140.1 bp −$1,401	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.99 bp	27.3 bp −$27	74.8 bp −$748	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
Backpack ZORA_USDC_PERP	−0.0418%	1h	0.008392	+0.024%	$36K	$118K	10x	as long as short
dYdX ZORA-USD	0.0000%	1h	0.008394	+0.048%	$309	$5	5x	as long as short
Variational Omni ZORA	+0.0005%	4h	0.008374	−0.191%	$124K	$26K	—	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008380	−0.119%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008378	−0.143%	$22K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008390	+0.001%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008386	−0.043%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDTshort	+0.0100%	4h	0.008370	−0.238%	$2.2M	$1.6M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008373	−0.203%	$761K	$965K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008380	−0.119%	$155K	$72K	25x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ZORA_USDT	+0.0100%	4h	0.008385	−0.060%	$9.7M	$228K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008387	−0.036%	$736K	$1.1M	30x	as long as short
Bitget ZORAUSDTlong	+0.0100%	4h	0.008390	long leg	$732K	$214K	25x
SunX ZORA-USDT	+0.0100%	4h	0.008570	+2.145%	$1K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008383	−0.088%	$6K	$169K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008394	+0.048%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0579%	1h	0.008398	+0.095%	$1.6M	$318K	3x	as long as short