Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against OKX+0.089%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$187as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1921.925% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.205%−$21 · spread now +0.089%, 7d avg +0.006%

Together, before fees−0.155%+ Points / potential airdropExtended: Active · farm board−$15 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 0.083% dearer against OKX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZORA-USDT-SWAP	0.008415	0.0100	pay 0.0050% / 4h	1h 09m	$766K	$974K	10x
Short	Extended ZORA-USD	0.008423	0.0104	get 0.0013% / 1h	9m 24s	$6K	$169K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.089%Rate

Funding earned: $0.84
Price spread: +0.089% → +0.006%: $8.35
Slippage, 4 orders: −$177.45
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$183.26
Costs to cover: 1.925%
Break-even: 1534.2 days

Slippage from OKX: live order book, 7 min ago; Extended: live order book, 7 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, 7 min ago	1.78 bp	35.0 bp −$35	115.1 bp −$1,151	doesn't fit	doesn't fit
Sell Extended live order book, 7 min ago	3.56 bp	80.4 bp −$80	406.3 bp −$4,063	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	0.008421	+0.074%	$310	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008421	+0.071%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008410	−0.059%	$22K	$11K	3x	as long as short
Hyperliquid ZORA	+0.0100%	1h	0.008437	+0.261%	$1.6M	$317K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008426	+0.130%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008426	+0.129%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008409	−0.071%	$2.3M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAPlong	+0.0100%	4h	0.008415	long leg	$766K	$974K	10x
Gate ZORA_USDT	+0.0100%	4h	0.008420	+0.059%	$157K	$75K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008423	+0.095%	$9.8M	$228K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZORAUSDTM	+0.0100%	4h	0.008421	+0.071%	$775K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008432	+0.202%	$736K	$211K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008406	−0.103%	$125K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008600	+2.198%	$1K	$1.2M	20x	as long as short
Extended ZORA-USDshort	+0.0104%	1h	0.008423	+0.089%	$6K	$169K	5x
Backpack ZORA_USDC_PERP	+0.0163%	1h	0.008423	+0.095%	$34K	$116K	10x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008426	+0.131%	$1K	—	100x	as long as short