Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.024%
Price spread now: Backpack against Lighter+0.250%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.250% dearer against Lighter than usual: you sell high and buy low, +$25 on $10k if it 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 | Lighter ZORA | 0.008416 | 0.0096 | pay 0.0012% / 1h | 7m 45s | $22K | $15K | 3x |
| Short | Backpack ZORA_USDC_PERP | 0.008437 | 0.0100 | get 0.0013% / 1h | 7m 45s | $36K | $108K | 10x |
Lighter ZORA
Backpack ZORA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0.84
- Price spread: +0.250% → 0.000%
- $24.95
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $15.79
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Lighter: no order-book sample; Backpack: live order book, 60 min ago. 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 Lighter no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 60 min ago | 1.16 bp | 15.9 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
Lighter: 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 | 0.008418 | +0.026% | $310 | $5 | 5x | as long as short |
| Lighter ZORAlong | +0.0096% | 1h | 0.008416 | long leg | $22K | $15K | 3x | |
| Hyperliquid ZORA | +0.0100% | 1h | 0.008451 | +0.416% | $1.6M | $319K | 3x | as long as short |
| Aster ZORAUSDT | +0.0100% | 4h | 0.008430 | +0.165% | $26K | $26K | 5x | as long as short |
| Binance ZORAUSDT | +0.0100% | 4h | 0.008438 | +0.261% | $2.5M | $4.0M | 50x | as long as short |
| Bybit ZORAUSDT | +0.0100% | 4h | 0.008416 | 0.000% | $2.3M | $1.7M | 25x | as long as short |
| OKX ZORA-USDT-SWAP | +0.0100% | 4h | 0.008430 | +0.166% | $764K | $963K | 10x | as long as short |
| Gate ZORA_USDT | +0.0100% | 4h | 0.008420 | +0.048% | $154K | $78K | 25x | as long as short |
| MEXC ZORA_USDT | +0.0100% | 4h | 0.008434 | +0.214% | $9.8M | $229K | 50x | as long as short |
| KuCoin ZORAUSDTM | +0.0100% | 4h | 0.008427 | +0.131% | $757K | $1.4M | 30x | as long as short |
dYdX ZORA-USD
Hyperliquid ZORA
Aster ZORAUSDT
Binance ZORAUSDT
Bybit ZORAUSDT
OKX ZORA-USDT-SWAP
Gate ZORA_USDT
MEXC ZORA_USDT
KuCoin ZORAUSDTMShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget ZORAUSDT | +0.0100% | 4h | 0.008433 | +0.202% | $722K | $208K | 25x | as long as short |
| BingX ZORA-USDT | +0.0100% | 4h | 0.008429 | +0.154% | — | $6.5M | — | as long as short |
| Backpack ZORA_USDC_PERPshort | +0.0100% | 1h | 0.008437 | +0.250% | $36K | $108K | 10x | |
| Variational Omni ZORA | +0.0100% | 4h | 0.008416 | 0.000% | $125K | $26K | — | as long as short |
| SunX ZORA-USDT | +0.0100% | 4h | 0.008610 | +2.305% | $2K | $1.2M | 20x | as long as short |
| Extended ZORA-USD | +0.0104% | 1h | 0.008431 | +0.182% | $6K | $164K | 5x | as long as short |
| GMX ZORA/USD [ETH-USDC] | L +0.0230% / S −0.0433% | 1h | 0.008430 | +0.166% | $1K | — | 100x | as long as short |
Bitget ZORAUSDT
BingX ZORA-USDT
Variational Omni ZORA
SunX ZORA-USDT
Extended ZORA-USD
GMX ZORA/USD [ETH-USDC]