Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Bybit+0.090%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.090% dearer against Bybit than usual: you sell high and buy low (spread +0.090% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZORAUSDT	0.008460	0.0100	pay 0.0050% / 4h	25m 24s	$2.3M	$1.7M	25x
Short	dYdX ZORA-USD	0.008468	0	get 0.0000% / 1h	25m 24s	$312	$5	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now +0.090%Rate

Funding earned: −$21
Price spread: +0.090% → 0.000%: $9.05
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$32.95
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; dYdX: 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 Bybit live order book, 2 min ago	3.55 bp	36.2 bp −$36	104.4 bp −$1,044	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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-USDshort	0.0000%	1h	0.008468	+0.090%	$312	$5	5x
BingX ZORA-USDT	+0.0070%	4h	0.008466	+0.071%	—	$6.5M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008459	−0.012%	$22K	$14K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008469	+0.106%	$26K	$12K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008471	+0.127%	$2.5M	$4.1M	50x	as long as short
Bybit ZORAUSDTlong	+0.0100%	4h	0.008460	long leg	$2.3M	$1.7M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008480	+0.236%	$767K	$963K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008460	0.000%	$157K	$81K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008475	+0.177%	$9.8M	$226K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008478	+0.213%	$749K	$1.4M	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	0.008492	+0.378%	$732K	$219K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008456	−0.048%	$126K	$25K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008650	+2.246%	$2K	$1.3M	20x	as long as short
Backpack ZORA_USDC_PERP	+0.0102%	1h	0.008468	+0.095%	$37K	$111K	10x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008466	+0.068%	$6K	$170K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008460	0.000%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0317%	1h	0.008500	+0.473%	$1.6M	$322K	3x	as long as short