Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.027%
Price spread now: Backpack against Extended0.000%7-day average +0.068% · you buy dearer than you sell
Net, funding: paid 7d − costs−$130as in the Funding arb table
Net, price: spread back to 7d avg − costs−$148as in the Price arb table
costs, in and out, $10k−$1411.411% of the position
Funding, last 7 days+0.116%+$12 on $10k
+Price spread, last 4 days (all we have)−0.070%−$7 · spread now 0.000%, 7d avg +0.068%
=Together, before fees+0.045%+ Points / potential airdropExtended: Active · farm board+$5 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: Backpack is 0.069% cheaper against Extended than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.068%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended ZORA-USD | 0.008387 | 0.0104 | pay 0.0013% / 1h | 14m 40s | $6K | $169K | 5x |
| Short | Backpack ZORA_USDC_PERP | 0.008387 | 0.0100 | get 0.0013% / 1h | 14m 40s | $33K | $119K | 10x |
Extended ZORA-USD
Backpack ZORA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Extended. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$0.84
- Price spread: 0.000% → +0.068%
- −$6.86
- Slippage, 4 orders
- −$126.06
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$148.76
- Costs to cover
- 1.411%
- Break-even
- never at this rate
Slippage from Extended: live order book, 6 min ago; Backpack: live order book, 8 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 Extended live order book, 6 min ago | 4.77 bp | 50.9 bp −$51 | 320.9 bp −$3,209 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 8 min ago | 0.60 bp | 13.4 bp −$13 | doesn't fit | 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 | 0.008396 | +0.105% | $309 | $5 | 5x | as long as short |
| BingX ZORA-USDT | +0.0070% | 4h | 0.008383 | −0.048% | — | $6.6M | — | as long as short |
| Lighter ZORA | +0.0096% | 1h | 0.008372 | −0.179% | $22K | $11K | 3x | as long as short |
| Aster ZORAUSDT | +0.0100% | 4h | 0.008391 | +0.053% | $26K | $28K | 5x | as long as short |
| Binance ZORAUSDT | +0.0100% | 4h | 0.008385 | −0.025% | $2.5M | $4.0M | 50x | as long as short |
| Bybit ZORAUSDT | +0.0100% | 4h | 0.008375 | −0.143% | $2.3M | $1.6M | 25x | as long as short |
| OKX ZORA-USDT-SWAP | +0.0100% | 4h | 0.008379 | −0.096% | $765K | $969K | 10x | as long as short |
| Gate ZORA_USDT | +0.0100% | 4h | 0.008380 | −0.084% | $154K | $73K | 25x | as long as short |
| MEXC ZORA_USDT | +0.0100% | 4h | 0.008385 | −0.024% | $9.7M | $230K | 50x | as long as short |
| KuCoin ZORAUSDTM | +0.0100% | 4h | 0.008397 | +0.119% | $739K | $1.1M | 30x | as long as short |
dYdX ZORA-USD
BingX ZORA-USDT
Lighter ZORA
Aster ZORAUSDT
Binance ZORAUSDT
Bybit ZORAUSDT
OKX ZORA-USDT-SWAP
Gate ZORA_USDT
MEXC ZORA_USDT
KuCoin ZORAUSDTMShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget ZORAUSDT | +0.0100% | 4h | 0.008391 | +0.047% | $732K | $207K | 25x | as long as short |
| Backpack ZORA_USDC_PERPshort | +0.0100% | 1h | 0.008387 | 0.000% | $33K | $119K | 10x | |
| Variational Omni ZORA | +0.0100% | 4h | 0.008379 | −0.100% | $124K | $26K | — | as long as short |
| SunX ZORA-USDT | +0.0100% | 4h | 0.008570 | +2.182% | $1K | $1.2M | 20x | as long as short |
| Extended ZORA-USDlong | +0.0104% | 1h | 0.008387 | long leg | $6K | $169K | 5x | |
| GMX ZORA/USD [ETH-USDC] | L +0.0230% / S −0.0433% | 1h | 0.008385 | −0.024% | $1K | — | 100x | as long as short |
| Hyperliquid ZORA | +0.0352% | 1h | 0.008401 | +0.167% | $1.6M | $318K | 3x | as long as short |
Bitget ZORAUSDT
Variational Omni ZORA
SunX ZORA-USDT
GMX ZORA/USD [ETH-USDC]
Hyperliquid ZORA