Funding arb · Price arb /

ZORA

all ZORA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Gate−0.119%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$187as in the Funding arb table

Net, price: spread back to 7d avg − costs−$194as in the Price arb table

costs, in and out, $10k−$1871.869% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.519%+$52 · spread now −0.119%, 7d avg −0.048%

Together, before fees+0.522%+$52 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: Bybit is 0.071% cheaper against Gate than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZORA_USDT	0.008380	0.0100	pay 0.0050% / 4h	2h 54m	$155K	$72K	25x
Short	Bybit ZORAUSDT	0.008370	0.0100	get 0.0050% / 4h	2h 54m	$2.2M	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now −0.119%Rate

Funding earned: $0
Price spread: −0.119% → −0.048%: −$7.15
Slippage, 4 orders: −$160.93
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$194.08
Costs to cover: 1.869%
Break-even: never at this rate

Slippage from Gate: live order book, 28 min ago; Bybit: live order book, 2 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 Gate live order book, 28 min ago	11.90 bp	63.0 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.99 bp	27.3 bp −$27	74.8 bp −$748	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	−0.0418%	1h	0.008392	+0.143%	$36K	$118K	10x	as long as short
dYdX ZORA-USD	0.0000%	1h	0.008394	+0.167%	$309	$5	5x	as long as short
Variational Omni ZORA	+0.0005%	4h	0.008374	−0.072%	$124K	$26K	—	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008380	0.000%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008378	−0.024%	$22K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008390	+0.121%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008386	+0.076%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDTshort	+0.0100%	4h	0.008370	−0.119%	$2.2M	$1.6M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008373	−0.084%	$761K	$965K	10x	as long as short
Gate ZORA_USDTlong	+0.0100%	4h	0.008380	long leg	$155K	$72K	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	0.008385	+0.060%	$9.7M	$228K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008387	+0.084%	$736K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008390	+0.119%	$732K	$214K	25x	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008570	+2.267%	$1K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008383	+0.031%	$6K	$169K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008394	+0.167%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0579%	1h	0.008398	+0.215%	$1.6M	$318K	3x	as long as short