Funding arb · Price arb /

ZORA

all ZORA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.008%

Price spread now: BingX against Lighter+0.119%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

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

The price spread pays, funding is against you. BingX is 0.119% dearer against Lighter than usual: you sell high and buy low (spread +0.119% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZORA	0.008424	0.0096	pay 0.0012% / 1h	38m 45s	$21K	$11K	3x
Short	BingX ZORA-USDT	0.008434	0.0070	get 0.0035% / 4h	3h 38m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now +0.119%Rate

Funding earned: −$5.46
Price spread: +0.119% → 0.000%: $11.87
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$3.59
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; BingX: live order book, 8 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 BingX live order book, 8 min ago	1.78 bp	13.0 bp −$13	45.9 bp −$459	566.4 bp −$56.6K	1104.7 bp −$552.3K

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	0.008432	+0.099%	$310	$5	5x	as long as short
BingX ZORA-USDTshort	+0.0070%	4h	0.008434	+0.119%	—	$6.6M	—
Lighter ZORAlong	+0.0096%	1h	0.008424	long leg	$21K	$11K	3x
Aster ZORAUSDT	+0.0100%	4h	0.008438	+0.166%	$26K	$26K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008434	+0.117%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008427	+0.036%	$2.3M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008432	+0.095%	$767K	$980K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008430	+0.071%	$155K	$71K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008435	+0.131%	$9.8M	$227K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008435	+0.131%	$771K	$1.2M	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	0.008436	+0.142%	$724K	$207K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008436	+0.142%	$34K	$113K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008428	+0.044%	$125K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008630	+2.445%	$1K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008435	+0.136%	$9K	$168K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008433	+0.107%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0297%	1h	0.008448	+0.285%	$1.6M	$314K	3x	as long as short