Funding arb · Price arb /

ZORA

all ZORA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Bybit0.000%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 Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZORAUSDT	0.008409	0.0100	pay 0.0050% / 4h	1h 09m	$2.3M	$1.6M	25x
Short	Lighter ZORA	0.008409	0.0096	get 0.0012% / 1h	9m 14s	$22K	$11K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$0.84
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$11.84
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.59 bp	22.9 bp −$23	82.0 bp −$820	doesn't fit	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	0.008421	+0.145%	$310	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008421	+0.143%	—	$6.6M	—	as long as short
Lighter ZORAshort	+0.0096%	1h	0.008409	0.000%	$22K	$11K	3x
Hyperliquid ZORA	+0.0100%	1h	0.008435	+0.309%	$1.6M	$317K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008426	+0.205%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008427	+0.213%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDTlong	+0.0100%	4h	0.008409	long leg	$2.3M	$1.6M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008414	+0.059%	$765K	$974K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008420	+0.131%	$157K	$75K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008427	+0.214%	$9.8M	$228K	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	0.008421	+0.143%	$775K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008432	+0.274%	$736K	$211K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008406	−0.031%	$125K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008600	+2.271%	$1K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008422	+0.155%	$6K	$169K	5x	as long as short
Backpack ZORA_USDC_PERP	+0.0167%	1h	0.008427	+0.214%	$34K	$116K	10x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008426	+0.202%	$1K	—	100x	as long as short