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: OKX against Bybit+0.035%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1551.547% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 7 days+0.014%+$1 · spread now +0.035%, 7d avg +0.083%

Together, before fees−0.032%−$3 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: OKX is 0.048% cheaper against Bybit than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.083%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZORAUSDT	0.008468	0.0100	pay 0.0050% / 4h	25m 08s	$2.3M	$1.7M	25x
Short	OKX ZORA-USDT-SWAP	0.008471	0.0100	get 0.0050% / 4h	25m 08s	$769K	$962K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → +0.083%: −$4.76
Slippage, 4 orders: −$133.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$159.42
Costs to cover: 1.547%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; OKX: live order book, 16 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, 2 min ago	3.55 bp	36.2 bp −$36	104.4 bp −$1,044	doesn't fit	doesn't fit
Sell OKX live order book, 16 min ago	2.97 bp	44.8 bp −$45	127.2 bp −$1,272	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	0.008468	−0.004%	$312	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008472	+0.047%	—	$6.5M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008482	+0.165%	$22K	$14K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008479	+0.127%	$26K	$12K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008490	+0.259%	$2.5M	$4.1M	50x	as long as short
Bybit ZORAUSDTlong	+0.0100%	4h	0.008468	long leg	$2.3M	$1.7M	25x
OKX ZORA-USDT-SWAPshort	+0.0100%	4h	0.008471	+0.035%	$769K	$962K	10x
Gate ZORA_USDT	+0.0100%	4h	0.008470	+0.024%	$157K	$81K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008486	+0.213%	$9.8M	$226K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008484	+0.189%	$750K	$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	0.008491	+0.272%	$732K	$219K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008456	−0.142%	$126K	$25K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008660	+2.267%	$2K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008493	+0.292%	$6K	$170K	5x	as long as short
Backpack ZORA_USDC_PERP	+0.0112%	1h	0.008482	+0.165%	$37K	$111K	10x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008487	+0.224%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0312%	1h	0.008496	+0.331%	$1.6M	$322K	3x	as long as short