Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against OKX+0.108%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$1061.064% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 7 days−0.163%−$16 · spread now +0.108%, 7d avg +0.012%

Together, before fees−0.159%−$16 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: Binance is 0.096% dearer against OKX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZORA-USDT-SWAP	0.008438	0.0100	pay 0.0050% / 4h	2h 19m	$758K	$985K	10x
Short	Binance ZORAUSDT	0.008447	0.0100	get 0.0050% / 4h	2h 19m	$2.5M	$4.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.108%Rate

Funding earned: $0
Price spread: +0.108% → +0.012%: $9.64
Slippage, 4 orders: −$86.4
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$96.76
Costs to cover: 1.064%
Break-even: never at this rate

Slippage from OKX: live order book, 12 min ago; Binance: live order book, 2 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 OKX live order book, 12 min ago	1.79 bp	21.1 bp −$21	123.5 bp −$1,235	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	1.78 bp	22.9 bp −$23	99.5 bp −$995	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	+0.027%	$311	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008439	+0.012%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008436	−0.024%	$22K	$15K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008442	+0.045%	$26K	$16K	5x	as long as short
Binance ZORAUSDTshort	+0.0100%	4h	0.008447	+0.108%	$2.5M	$4.3M	50x
Bybit ZORAUSDT	+0.0100%	4h	0.008427	−0.130%	$2.3M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAPlong	+0.0100%	4h	0.008438	long leg	$758K	$985K	10x
Gate ZORA_USDT	+0.0100%	4h	0.008440	+0.024%	$162K	$83K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008449	+0.130%	$9.8M	$229K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008445	+0.083%	$746K	$1.5M	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	0.008448	+0.119%	$686K	$278K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008440	+0.024%	$33K	$104K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008398	−0.480%	$125K	$25K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008620	+2.157%	$2K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008445	+0.081%	$8K	$199K	5x	as long as short
Hyperliquid ZORA	+0.0142%	1h	0.008460	+0.261%	$1.6M	$308K	3x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008433	−0.059%	$1K	—	100x	as long as short