Funding arb · Price arb /

ZORA

all ZORA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against SunX−2.079%7-day average — · you buy dearer than you sell

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

Long on SunX Short on dYdX

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—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 2.079% cheaper against SunX than usual: you would sell low and buy high (−$208 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZORA-USDT	0.008600	0.0100	pay 0.0050% / 4h	1h 09m	$1K	$1.2M	20x
Short	dYdX ZORA-USD	0.008421	0	get 0.0000% / 1h	9m 20s	$310	$5	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against SunX. 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 SunXbpFee dYdXbpOrdersPrice spread, now −2.079%Rate

Funding earned: −$21
Price spread: −2.079% → 0.000%: −$207.91
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$246.91
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 4 min ago; dYdX: no order-book sample. 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, 4 min ago	243.62 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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-USDshort	0.0000%	1h	0.008421	−2.079%	$310	$5	5x
BingX ZORA-USDT	+0.0070%	4h	0.008421	−2.081%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008410	−2.209%	$22K	$11K	3x	as long as short
Hyperliquid ZORA	+0.0100%	1h	0.008437	−1.895%	$1.6M	$317K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008426	−2.024%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008426	−2.025%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008409	−2.221%	$2.3M	$1.6M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008415	−2.151%	$766K	$974K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008420	−2.093%	$157K	$75K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008423	−2.058%	$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	−2.081%	$775K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008432	−1.953%	$736K	$211K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008406	−2.252%	$125K	$26K	—	as long as short
SunX ZORA-USDTlong	+0.0100%	4h	0.008600	long leg	$1K	$1.2M	20x
Extended ZORA-USD	+0.0104%	1h	0.008423	−2.064%	$6K	$169K	5x	as long as short
Backpack ZORA_USDC_PERP	+0.0163%	1h	0.008423	−2.058%	$34K	$116K	10x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008426	−2.023%	$1K	—	100x	as long as short