Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Gate+0.231%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 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

The price spread pays, funding is against you. dYdX is 0.231% dearer against Gate than usual: you sell high and buy low (spread +0.231% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZORA_USDT	0.008430	0.0100	pay 0.0050% / 4h	2h 37m	$161K	$83K	25x
Short	dYdX ZORA-USD	0.008450	0	get 0.0000% / 1h	37m 41s	$311	$5	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Gate. 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 GatebpFee dYdXbpOrdersPrice spread, now +0.231%Rate

Funding earned: −$21
Price spread: +0.231% → 0.000%: $23.13
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$22.87
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 3 min ago; dYdX: no order-book sample. 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 Gate live order book, 3 min ago	5.94 bp	94.0 bp −$94	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

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-USDshort	0.0000%	1h	0.008450	+0.231%	$311	$5	5x
BingX ZORA-USDT	+0.0070%	4h	0.008440	+0.119%	—	$6.5M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008436	+0.071%	$21K	$15K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008447	+0.202%	$26K	$16K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008447	+0.202%	$2.5M	$4.3M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008429	−0.012%	$2.3M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008446	+0.190%	$765K	$974K	10x	as long as short
Gate ZORA_USDTlong	+0.0100%	4h	0.008430	long leg	$161K	$83K	25x
MEXC ZORA_USDT	+0.0100%	4h	0.008445	+0.178%	$9.8M	$224K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008445	+0.178%	$743K	$1.5M	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	0.008449	+0.225%	$685K	$286K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008443	+0.154%	$34K	$106K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008425	−0.063%	$127K	$24K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008620	+2.254%	$1K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008437	+0.086%	$7K	$196K	5x	as long as short
Hyperliquid ZORA	+0.0127%	1h	0.008461	+0.368%	$1.6M	$307K	3x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008434	+0.047%	$1K	—	100x	as long as short