Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.010%

Price spread now: BingX against Extended−0.040%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$160as in the Price arb table

costs, in and out, $10k−$1571.567% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now −0.040%, 7d avg −0.005%

Together, before fees−0.078%+ Points / potential airdropExtended: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.034% cheaper against Extended than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZORA-USD	0.008389	0.0104	pay 0.0013% / 1h	34m 18s	$6K	$169K	5x
Short	BingX ZORA-USDT	0.008386	0.0070	get 0.0035% / 4h	2h 34m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$7.14
Price spread: −0.040% → −0.005%: −$3.44
Slippage, 4 orders: −$141.72
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$167.3
Costs to cover: 1.567%
Break-even: never at this rate

Slippage from Extended: live order book, 51 min ago; BingX: 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, 51 min ago	4.74 bp	61.3 bp −$61	330.8 bp −$3,308	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	0.60 bp	16.0 bp −$16	68.6 bp −$686	586.4 bp −$58.6K	1201.8 bp −$600.9K

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	0.008373	−0.190%	$308	$5	5x	as long as short
Variational Omni ZORA	+0.0002%	4h	0.008358	−0.377%	$124K	$26K	—	as long as short
BingX ZORA-USDTshort	+0.0070%	4h	0.008386	−0.040%	—	$6.6M	—
Lighter ZORA	+0.0096%	1h	0.008380	−0.111%	$22K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008389	+0.001%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008390	+0.008%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008380	−0.111%	$2.3M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008382	−0.087%	$764K	$970K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008370	−0.230%	$154K	$73K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008390	+0.008%	$9.8M	$229K	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	0.008385	−0.052%	$734K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008391	+0.020%	$732K	$207K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008390	+0.008%	$33K	$119K	10x	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008570	+2.154%	$2K	$1.2M	20x	as long as short
Extended ZORA-USDlong	+0.0104%	1h	0.008389	long leg	$6K	$169K	5x
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008388	−0.016%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0422%	1h	0.008407	+0.211%	$1.6M	$318K	3x	as long as short