Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.007%

Price spread now: Variational Omni against Bybit+0.020%7-day average −0.002% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

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)−0.048%−$5 · spread now +0.020%, 7d avg −0.002%

Together, before fees−0.079%+ Points / potential airdropVariational Omni: Active · farm board−$8 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: Variational Omni is 0.022% dearer against Bybit than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZORAUSDT	0.008437	0.0100	pay 0.0050% / 4h	3h 33m	$2.3M	$1.6M	25x
Short	Variational Omni ZORA	0.008439	0.0100	get 0.0050% / 4h	3h 33m	$125K	$26K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → −0.002%: $2.24
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$8.76
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; Variational Omni: RFQ quote, 40 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 Bybit live order book, 3 min ago	2.37 bp	24.2 bp −$24	80.1 bp −$801	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 40 min ago	5.34 bp	doesn't fit	69.4 bp −$694	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	0.008449	+0.140%	$311	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008443	+0.071%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008432	−0.059%	$21K	$11K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008444	+0.082%	$26K	$26K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008446	+0.104%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDTlong	+0.0100%	4h	0.008437	long leg	$2.3M	$1.6M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008439	+0.024%	$768K	$980K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008440	+0.036%	$155K	$71K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008444	+0.083%	$9.8M	$227K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008444	+0.083%	$773K	$1.2M	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	0.008447	+0.119%	$725K	$207K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008444	+0.083%	$34K	$113K	10x	as long as short
Variational Omni ZORAshort	+0.0100%	4h	0.008439	+0.020%	$125K	$26K	—
SunX ZORA-USDT	+0.0100%	4h	0.008630	+2.288%	$1K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008443	+0.069%	$9K	$164K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008441	+0.047%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0250%	1h	0.008457	+0.237%	$1.6M	$314K	3x	as long as short