Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: OKX against dYdX−0.164%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 OKX

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

Funding pays, the price is against you. OKX is 0.164% cheaper against dYdX than usual: you would sell low and buy high (spread −0.164% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 5.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZORA-USD	0.008450	0	get 0.0000% / 1h	56m 27s	$311	$5	5x
Short	OKX ZORA-USDT-SWAP	0.008436	0.0100	get 0.0050% / 4h	3h 56m	$767K	$988K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.164%Rate

Funding earned: $21
Price spread: −0.164% → 0.000%: −$16.4
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$15.4
Costs to cover: 0.200%
Break-even: 12.1 days

Slippage unknown: dYdX: no order-book sample; OKX: live order book, 15 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 OKX live order book, 15 min ago	4.15 bp	35.9 bp −$36	102.8 bp −$1,028	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	0.008450	long leg	$311	$5	5x
BingX ZORA-USDT	+0.0070%	4h	0.008447	−0.034%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008441	−0.105%	$21K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008453	+0.038%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008445	−0.053%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008436	−0.164%	$2.3M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAPshort	+0.0100%	4h	0.008436	−0.164%	$767K	$988K	10x
Gate ZORA_USDT	+0.0100%	4h	0.008450	+0.002%	$156K	$70K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008449	−0.010%	$9.8M	$226K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008448	−0.022%	$766K	$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	0.008452	+0.025%	$727K	$210K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008445	−0.053%	$126K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008650	+2.369%	$2K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008450	−0.003%	$6K	$163K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008459	+0.108%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0325%	1h	0.008459	+0.108%	$1.6M	$315K	3x	as long as short
Backpack ZORA_USDC_PERP	+0.0330%	1h	0.008453	+0.037%	$34K	$114K	10x	as long as short