Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against dYdX−0.011%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Bybit

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZORA-USD	0.008448	0	get 0.0000% / 1h	6m 03s	$311	$5	5x
Short	Bybit ZORAUSDT	0.008447	0.0100	get 0.0050% / 4h	6m 03s	$2.3M	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against dYdX. 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 dYdXbpFee BybitbpOrdersPrice spread, now −0.011%Rate

Funding earned: $21
Price spread: −0.011% → 0.000%: −$1.13
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1.13
Costs to cover: 0.210%
Break-even: 7.4 days

Slippage unknown: dYdX: no order-book sample; Bybit: live order book, 1 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 dYdX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	2.96 bp	25.5 bp −$25	77.1 bp −$771	doesn't fit	doesn't fit

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-USDlong	0.0000%	1h	0.008448	long leg	$311	$5	5x
BingX ZORA-USDT	+0.0070%	4h	0.008450	+0.024%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008436	−0.141%	$21K	$12K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008456	+0.095%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008461	+0.152%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDTshort	+0.0100%	4h	0.008447	−0.011%	$2.3M	$1.7M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008450	+0.024%	$768K	$990K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008450	+0.024%	$156K	$74K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008457	+0.107%	$9.8M	$229K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008453	+0.060%	$765K	$1.2M	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	0.008466	+0.214%	$728K	$218K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008438	−0.119%	$125K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008640	+2.273%	$2K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008462	+0.162%	$6K	$169K	5x	as long as short
Backpack ZORA_USDC_PERP	+0.0147%	1h	0.008461	+0.154%	$34K	$114K	10x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008451	+0.036%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0432%	1h	0.008478	+0.356%	$1.6M	$315K	3x	as long as short