Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Bybit+0.024%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$213as in the Funding arb table

Net, price: spread back to 7d avg − costs−$215as in the Price arb table

costs, in and out, $10k−$2122.118% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.024%, 7d avg +0.052%

Together, before fees−0.041%−$4 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: Gate is 0.029% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZORAUSDT	0.008418	0.0100	pay 0.0050% / 4h	2h 07m	$2.3M	$1.7M	25x
Short	Gate ZORA_USDT	0.008420	0.0100	get 0.0050% / 4h	2h 07m	$154K	$78K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.024%Rate

Funding earned: $0
Price spread: +0.024% → +0.052%: −$2.86
Slippage, 4 orders: −$185.75
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$214.61
Costs to cover: 2.118%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Gate: live order book, 54 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 Bybit live order book, 5 min ago	2.97 bp	41.5 bp −$42	113.2 bp −$1,132	doesn't fit	doesn't fit
Sell Gate live order book, 54 min ago	5.89 bp	65.6 bp −$66	doesn't fit	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	0.008434	+0.192%	$310	$5	5x	as long as short
Lighter ZORA	+0.0096%	1h	0.008420	+0.024%	$22K	$15K	3x	as long as short
Hyperliquid ZORA	+0.0100%	1h	0.008448	+0.356%	$1.6M	$319K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008430	+0.146%	$26K	$26K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008439	+0.253%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDTlong	+0.0100%	4h	0.008418	long leg	$2.3M	$1.7M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008434	+0.190%	$764K	$963K	10x	as long as short
Gate ZORA_USDTshort	+0.0100%	4h	0.008420	+0.024%	$154K	$78K	25x
MEXC ZORA_USDT	+0.0100%	4h	0.008433	+0.178%	$9.8M	$229K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008433	+0.178%	$758K	$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	0.008433	+0.178%	$722K	$208K	25x	as long as short
BingX ZORA-USDT	+0.0100%	4h	0.008429	+0.131%	—	$6.5M	—	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008437	+0.226%	$36K	$108K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008416	−0.023%	$125K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008620	+2.400%	$2K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008438	+0.233%	$6K	$164K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008433	+0.178%	$1K	—	100x	as long as short