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 +0.007%

Price spread now: Bybit against Variational Omni−0.151%7-day average +0.003% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.030%+$3 on $10k

Price spread, last 3 days (all we have)+0.089%+$9 · spread now −0.151%, 7d avg +0.003%

Together, before fees+0.119%+ Points / potential airdropVariational Omni: Active · farm board+$12 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 0.154% cheaper against Variational Omni than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZORA	0.008379	0.0100	pay 0.0050% / 4h	2h 10m	$124K	$26K	—
Short	Bybit ZORAUSDT	0.008366	0.0100	get 0.0050% / 4h	2h 10m	$2.2M	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.151%Rate

Funding earned: $0
Price spread: −0.151% → +0.003%: −$15.41
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.41
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 13 min ago; Bybit: live order book, 6 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 Variational Omni RFQ quote, 13 min ago	8.35 bp	doesn't fit	79.9 bp −$799	doesn't fit	doesn't fit
Sell Bybit live order book, 6 min ago	2.39 bp	22.7 bp −$23	83.5 bp −$835	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	0.008383	+0.055%	$309	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008373	−0.067%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008369	−0.115%	$22K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008380	+0.015%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008375	−0.042%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDTshort	+0.0100%	4h	0.008366	−0.151%	$2.2M	$1.6M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008375	−0.043%	$764K	$967K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008380	+0.016%	$154K	$73K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008376	−0.031%	$9.7M	$230K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008380	+0.016%	$737K	$1.1M	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	0.008381	+0.028%	$731K	$207K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008378	−0.007%	$33K	$117K	10x	as long as short
Variational Omni ZORAlong	+0.0100%	4h	0.008379	long leg	$124K	$26K	—
SunX ZORA-USDT	+0.0100%	4h	0.008560	+2.165%	$1K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008375	−0.043%	$6K	$169K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008377	−0.019%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0345%	1h	0.008391	+0.148%	$1.6M	$318K	3x	as long as short