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: MEXC against Lighter+0.142%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 MEXC

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.142% dearer against Lighter than usual: you sell high and buy low, +$14 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	0.008428	0.0096	pay 0.0012% / 1h	37m 45s	$21K	$11K	3x
Short	MEXC ZORA_USDT	0.008440	0.0100	get 0.0050% / 4h	3h 37m	$9.8M	$227K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.142%Rate

Funding earned: $0.84
Price spread: +0.142% → 0.000%: $14.24
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: $11.08
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; MEXC: live order book, 5 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 MEXC live order book, 5 min ago	1.18 bp	17.3 bp −$17	78.6 bp −$786	268.1 bp −$26.8K	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	0.008432	+0.052%	$310	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008439	+0.131%	—	$6.6M	—	as long as short
Lighter ZORAlong	+0.0096%	1h	0.008428	long leg	$21K	$11K	3x
Aster ZORAUSDT	+0.0100%	4h	0.008438	+0.119%	$26K	$26K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008440	+0.142%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008428	0.000%	$2.3M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008434	+0.071%	$768K	$981K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008430	+0.024%	$155K	$71K	25x	as long as short
MEXC ZORA_USDTshort	+0.0100%	4h	0.008440	+0.142%	$9.8M	$227K	50x
KuCoin ZORAUSDTM	+0.0100%	4h	0.008445	+0.202%	$772K	$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	0.008438	+0.119%	$724K	$207K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008438	+0.119%	$34K	$113K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008428	−0.004%	$125K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008620	+2.278%	$1K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008440	+0.142%	$9K	$168K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008435	+0.083%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0291%	1h	0.008456	+0.332%	$1.6M	$314K	3x	as long as short