Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against KuCoin−0.177%7-day average −0.137% · you buy dearer than you sell

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1471.475% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 7 days+0.080%+$8 · spread now −0.177%, 7d avg −0.137%

Together, before fees+0.138%+$14 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 0.040% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.137%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZORAUSDTM	0.008461	0.0100	pay 0.0050% / 4h	3h 58m	$770K	$1.2M	30x
Short	Bybit ZORAUSDT	0.008446	0.0100	get 0.0050% / 4h	3h 58m	$2.3M	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.177%Rate

Funding earned: $0
Price spread: −0.177% → −0.137%: −$4
Slippage, 4 orders: −$124.48
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$151.48
Costs to cover: 1.475%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Bybit: 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 KuCoin live order book, 7 min ago	7.08 bp	45.9 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 8 min ago	2.96 bp	25.5 bp −$25	77.1 bp −$771	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
dYdX ZORA-USD	0.0000%	1h	0.008453	−0.096%	$311	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008459	−0.024%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008444	−0.201%	$21K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008460	−0.017%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008462	+0.013%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDTshort	+0.0100%	4h	0.008446	−0.177%	$2.3M	$1.7M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008458	−0.035%	$769K	$993K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008450	−0.130%	$156K	$70K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008459	−0.024%	$9.8M	$226K	50x	as long as short
KuCoin ZORAUSDTMlong	+0.0100%	4h	0.008461	long leg	$770K	$1.2M	30x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZORAUSDT	+0.0100%	4h	0.008462	+0.012%	$728K	$217K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008445	−0.185%	$126K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008640	+2.116%	$2K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008460	−0.010%	$6K	$163K	5x	as long as short
Backpack ZORA_USDC_PERP	+0.0161%	1h	0.008452	−0.106%	$34K	$114K	10x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008460	−0.012%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0460%	1h	0.008474	+0.154%	$1.6M	$315K	3x	as long as short