Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against KuCoin+0.026%7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$206as in the Funding arb table

Net, price: spread back to 7d avg − costs−$202as in the Price arb table

costs, in and out, $10k−$2102.099% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.026%, 7d avg −0.054%

Together, before fees−0.027%+ Points / potential airdropExtended: Active · farm board−$3 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: Extended is 0.080% dearer against KuCoin than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZORAUSDTM	0.008450	0.0100	pay 0.0050% / 4h	3h 36m	$773K	$1.2M	30x
Short	Extended ZORA-USD	0.008452	0.0104	get 0.0013% / 1h	36m 45s	$9K	$168K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0.84
Price spread: +0.026% → −0.054%: $8
Slippage, 4 orders: −$192.92
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$201.08
Costs to cover: 2.099%
Break-even: 1682.7 days

Slippage from KuCoin: live order book, 8 min ago; Extended: live order book, 34 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, 8 min ago	10.07 bp	46.6 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 34 min ago	4.74 bp	66.0 bp −$66	368.0 bp −$3,680	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	0.008440	−0.122%	$311	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008446	−0.047%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008434	−0.189%	$21K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008441	−0.105%	$26K	$26K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008454	+0.047%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008440	−0.118%	$2.3M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008445	−0.059%	$769K	$982K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008440	−0.118%	$155K	$71K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008453	+0.036%	$9.8M	$227K	50x	as long as short
KuCoin ZORAUSDTMlong	+0.0100%	4h	0.008450	long leg	$773K	$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	0.008440	−0.118%	$725K	$207K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008453	+0.036%	$34K	$113K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008428	−0.264%	$125K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008640	+2.249%	$2K	$1.2M	20x	as long as short
Extended ZORA-USDshort	+0.0104%	1h	0.008452	+0.026%	$9K	$168K	5x
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008447	−0.036%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0281%	1h	0.008466	+0.189%	$1.6M	$314K	3x	as long as short