Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against dYdX−0.187%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Bybit

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

Funding pays, the price is against you. Bybit is 0.187% cheaper against dYdX than usual: you would sell low and buy high (spread −0.187% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 6.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZORA-USD	0.008430	0	get 0.0000% / 1h	14m 23s	$310	$5	5x
Short	Bybit ZORAUSDT	0.008414	0.0100	get 0.0050% / 4h	1h 14m	$2.3M	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against dYdX. 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 dYdXbpFee BybitbpOrdersPrice spread, now −0.187%Rate

Funding earned: $21
Price spread: −0.187% → 0.000%: −$18.71
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$18.71
Costs to cover: 0.210%
Break-even: 13.2 days

Slippage unknown: dYdX: no order-book sample; Bybit: live order book, 2 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 dYdX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	1.19 bp	21.6 bp −$22	78.1 bp −$781	doesn't fit	doesn't fit

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-USDlong	0.0000%	1h	0.008430	long leg	$310	$5	5x
BingX ZORA-USDT	+0.0070%	4h	0.008423	−0.080%	—	$6.6M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008413	−0.199%	$22K	$11K	3x	as long as short
Hyperliquid ZORA	+0.0100%	1h	0.008439	+0.110%	$1.6M	$318K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008431	+0.015%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008429	−0.006%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDTshort	+0.0100%	4h	0.008414	−0.187%	$2.3M	$1.6M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008416	−0.163%	$766K	$974K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008420	−0.116%	$157K	$75K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008429	−0.009%	$9.8M	$226K	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	0.008425	−0.057%	$774K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008434	+0.050%	$734K	$209K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008400	−0.354%	$125K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008600	+2.019%	$2K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008426	−0.050%	$6K	$169K	5x	as long as short
Backpack ZORA_USDC_PERP	+0.0137%	1h	0.008431	+0.015%	$34K	$116K	10x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008422	−0.092%	$1K	—	100x	as long as short