Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0333%/8h= +36.5% APRpaid last 24h +0.089%

Price spread now: GMX against Gate+0.048%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 GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and GMX is 0.048% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZORA_USDT	0.008370	0.0100	pay 0.0050% / 4h	1h 52m	$154K	$73K	25x
Short	GMX ZORA/USD [ETH-USDC]	0.008374	L +0.0230% / S −0.0433%	get 0.0054% / 1h	52m 27s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.048%Rate

Funding earned: $70.02
Price spread: +0.048% → 0.000%: $4.78
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: $47.8
Costs to cover: 0.270%
Break-even: 2.2 days

Slippage unknown: Gate: live order book, 23 min ago; GMX: 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, 23 min ago	11.93 bp	55.9 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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-USD	0.0000%	1h	0.008375	+0.066%	$308	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008377	+0.084%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008365	−0.060%	$22K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008381	+0.134%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008377	+0.085%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008368	−0.024%	$2.2M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008374	+0.048%	$763K	$963K	10x	as long as short
Gate ZORA_USDTlong	+0.0100%	4h	0.008370	long leg	$154K	$73K	25x
MEXC ZORA_USDT	+0.0100%	4h	0.008377	+0.084%	$9.7M	$223K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008377	+0.084%	$779K	$1.1M	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	0.008381	+0.131%	$732K	$207K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008378	+0.096%	$33K	$117K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008364	−0.074%	$124K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008550	+2.151%	$2K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008378	+0.092%	$6K	$169K	5x	as long as short
Hyperliquid ZORA	+0.0203%	1h	0.008391	+0.251%	$1.6M	$317K	3x	as long as short
GMX ZORA/USD [ETH-USDC]short	L +0.0230% / S −0.0433%	1h	0.008374	+0.048%	$1K	—	100x