Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Gate against Extended−0.118%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$264as in the Funding arb table

Net, price: spread back to 7d avg − costs−$271as in the Price arb table

costs, in and out, $10k−$2632.632% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 4 days (all we have)−0.243%−$24 · spread now −0.118%, 7d avg −0.037%

Together, before fees−0.249%+ Points / potential airdropExtended: Active · farm board−$25 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: Gate is 0.081% cheaper against Extended than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZORA-USD	0.008370	0.0104	pay 0.0013% / 1h	54m 06s	$6K	$169K	5x
Short	Gate ZORA_USDT	0.008360	0.0100	get 0.0050% / 4h	2h 54m	$154K	$73K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now −0.118%Rate

Funding earned: −$0.84
Price spread: −0.118% → −0.037%: −$8.11
Slippage, 4 orders: −$243.19
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$272.14
Costs to cover: 2.632%
Break-even: never at this rate

Slippage from Extended: live order book, 32 min ago; Gate: live order book, 29 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, 32 min ago	4.74 bp	61.3 bp −$61	330.8 bp −$3,308	doesn't fit	doesn't fit
Sell Gate live order book, 29 min ago	11.90 bp	75.7 bp −$76	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
Backpack ZORA_USDC_PERP	−0.0395%	1h	0.008369	−0.011%	$35K	$119K	10x	as long as short
dYdX ZORA-USD	0.0000%	1h	0.008394	+0.288%	$309	$5	5x	as long as short
Variational Omni ZORA	+0.0005%	4h	0.008374	+0.049%	$124K	$26K	—	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008364	−0.070%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008358	−0.142%	$22K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008371	+0.009%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008370	+0.001%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008356	−0.166%	$2.2M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008367	−0.035%	$760K	$963K	10x	as long as short
Gate ZORA_USDTshort	+0.0100%	4h	0.008360	−0.118%	$154K	$73K	25x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ZORA_USDT	+0.0100%	4h	0.008371	+0.013%	$9.7M	$228K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008369	−0.011%	$734K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008368	−0.023%	$730K	$214K	25x	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008550	+2.152%	$1K	$1.2M	20x	as long as short
Extended ZORA-USDlong	+0.0104%	1h	0.008370	long leg	$6K	$169K	5x
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008369	−0.011%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0585%	1h	0.008387	+0.204%	$1.6M	$318K	3x	as long as short