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 −0.007%

Price spread now: Variational Omni against Bybit−0.048%7-day average −0.003% · you buy dearer than you sell

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.030%−$3 on $10k

Price spread, last 3 days (all we have)+0.104%+$10 · spread now −0.048%, 7d avg −0.003%

Together, before fees+0.074%+ Points / potential airdropVariational Omni: Active · farm board+$7 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: Variational Omni is 0.045% 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 −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZORAUSDT	0.008404	0.0100	pay 0.0050% / 4h	1h 12m	$2.3M	$1.6M	25x
Short	Variational Omni ZORA	0.008400	0.0100	get 0.0050% / 4h	1h 12m	$125K	$26K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → −0.003%: −$4.51
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$15.51
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 min ago; Variational Omni: RFQ quote, 6 min ago. 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, 4 min ago	1.19 bp	26.8 bp −$27	83.3 bp −$833	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 6 min ago	5.36 bp	doesn't fit	73.2 bp −$732	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	0.008421	+0.205%	$310	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008419	+0.178%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008409	+0.059%	$22K	$11K	3x	as long as short
Hyperliquid ZORA	+0.0100%	1h	0.008431	+0.321%	$1.6M	$318K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008427	+0.268%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008424	+0.238%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDTlong	+0.0100%	4h	0.008404	long leg	$2.3M	$1.6M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008416	+0.143%	$765K	$974K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008410	+0.071%	$157K	$75K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008420	+0.190%	$9.8M	$226K	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	0.008415	+0.131%	$773K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008425	+0.250%	$735K	$211K	25x	as long as short
Variational Omni ZORAshort	+0.0100%	4h	0.008400	−0.048%	$125K	$26K	—
SunX ZORA-USDT	+0.0100%	4h	0.008590	+2.213%	$2K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008418	+0.161%	$6K	$169K	5x	as long as short
Backpack ZORA_USDC_PERP	+0.0145%	1h	0.008421	+0.202%	$34K	$116K	10x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008414	+0.119%	$1K	—	100x	as long as short