Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against SunX−2.304%46s7-day average −2.272% · you buy dearer than you sell

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 3 days (all we have)−0.674%−$67 · spread now −2.304%, 7d avg −2.272%

Together, before fees−0.726%−$73 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: Bybit is 0.032% cheaper against SunX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −2.272%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZORA-USDT	0.008550	0.0100	pay 0.0050% / 4h	2h 52m	$2K	$1.2M	20x
Short	Bybit ZORAUSDT	0.008353	0.0100	get 0.0050% / 4h	2h 52m	$2.2M	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now −2.304%Rate

Funding earned: $0
Price spread: −2.304% → −2.272%: −$3.17
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$22.17
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 11 min ago; Bybit: live order book, 4 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 SunX live order book, 11 min ago	255.81 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.99 bp	27.3 bp −$27	74.8 bp −$748	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
Backpack ZORA_USDC_PERP	−0.0350%	1h	0.008372	−2.082%	$34K	$120K	10x	as long as short
dYdX ZORA-USD	0.0000%	1h	0.008376	−2.035%	$308	$5	5x	as long as short
Variational Omni ZORA	+0.0005%	4h	0.008374	−2.059%	$124K	$26K	—	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008364	−2.175%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008356	−2.269%	$22K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008369	−2.122%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008367	−2.140%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDTshort	+0.0100%	4h	0.008353	−2.304%	$2.2M	$1.6M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008360	−2.222%	$760K	$963K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008360	−2.222%	$154K	$73K	25x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ZORA_USDT	+0.0100%	4h	0.008366	−2.152%	$9.7M	$228K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008365	−2.164%	$734K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008369	−2.117%	$730K	$214K	25x	as long as short
SunX ZORA-USDTlong	+0.0100%	4h	0.008550	long leg	$2K	$1.2M	20x
Extended ZORA-USD	+0.0104%	1h	0.008366	−2.152%	$6K	$169K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008371	−2.094%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0573%	1h	0.008385	−1.930%	$1.6M	$318K	3x	as long as short