Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against MEXC+0.080%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1291.287% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$3 on $10k

Price spread, last 4 days (all we have)+0.085%+$8 · spread now +0.080%, 7d avg −0.035%

Together, before fees+0.110%+ Points / potential airdropExtended: Active · farm board+$11 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 0.115% dearer against MEXC than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZORA_USDT	0.008486	0.0100	pay 0.0050% / 4h	25m 10s	$9.8M	$226K	50x
Short	Extended ZORA-USD	0.008493	0.0104	get 0.0013% / 1h	25m 10s	$6K	$170K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against MEXC. 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 MEXCbpFee ExtendedbpOrdersPrice spread, now +0.080%Rate

Funding earned: $0.84
Price spread: +0.080% → −0.035%: $11.49
Slippage, 4 orders: −$119.74
Fee MEXC: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$116.41
Costs to cover: 1.287%
Break-even: 977.1 days

Slippage from MEXC: live order book, 3 min ago; Extended: live order book, 31 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 MEXC live order book, 3 min ago	1.18 bp	16.9 bp −$17	77.0 bp −$770	242.4 bp −$24.2K	doesn't fit
Sell Extended live order book, 31 min ago	5.91 bp	54.3 bp −$54	386.6 bp −$3,866	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	0.008468	−0.216%	$312	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008472	−0.165%	—	$6.5M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008482	−0.047%	$22K	$14K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008479	−0.086%	$26K	$12K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008490	+0.046%	$2.5M	$4.1M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008468	−0.212%	$2.3M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008471	−0.177%	$769K	$962K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008470	−0.189%	$157K	$81K	25x	as long as short
MEXC ZORA_USDTlong	+0.0100%	4h	0.008486	long leg	$9.8M	$226K	50x
KuCoin ZORAUSDTM	+0.0100%	4h	0.008484	−0.024%	$750K	$1.4M	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	0.008491	+0.059%	$732K	$219K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008456	−0.354%	$126K	$25K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008660	+2.050%	$2K	$1.3M	20x	as long as short
Extended ZORA-USDshort	+0.0104%	1h	0.008493	+0.080%	$6K	$170K	5x
Backpack ZORA_USDC_PERP	+0.0112%	1h	0.008482	−0.047%	$37K	$111K	10x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008487	+0.012%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0312%	1h	0.008496	+0.118%	$1.6M	$322K	3x	as long as short