Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Gate−0.119%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$228as in the Funding arb table

Net, price: spread back to 7d avg − costs−$235as in the Price arb table

costs, in and out, $10k−$2292.287% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.248%+$25 · spread now −0.119%, 7d avg −0.052%

Together, before fees+0.252%+$25 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 0.066% cheaper against Gate than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZORA_USDT	0.008430	0.0100	pay 0.0050% / 4h	3h 02m	$158K	$80K	25x
Short	Bybit ZORAUSDT	0.008420	0.0100	get 0.0050% / 4h	3h 02m	$2.3M	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now −0.119%Rate

Funding earned: $0
Price spread: −0.119% → −0.052%: −$6.62
Slippage, 4 orders: −$202.71
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$235.33
Costs to cover: 2.287%
Break-even: never at this rate

Slippage from Gate: live order book, 43 min ago; Bybit: live order book, 4 min ago.

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 Gate live order book, 43 min ago	5.91 bp	84.6 bp −$85	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	3.55 bp	31.1 bp −$31	95.5 bp −$955	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	0.008432	+0.027%	$310	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008427	−0.036%	—	$6.5M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008424	−0.071%	$22K	$14K	3x	as long as short
Hyperliquid ZORA	+0.0100%	1h	0.008442	+0.142%	$1.6M	$303K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008441	+0.136%	$26K	$13K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008427	−0.033%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDTshort	+0.0100%	4h	0.008420	−0.119%	$2.3M	$1.7M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008421	−0.107%	$764K	$936K	10x	as long as short
Gate ZORA_USDTlong	+0.0100%	4h	0.008430	long leg	$158K	$80K	25x
MEXC ZORA_USDT	+0.0100%	4h	0.008433	+0.036%	$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	0.008441	+0.130%	$747K	$1.5M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008438	+0.095%	$731K	$228K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008445	+0.178%	$37K	$103K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008454	+0.285%	$127K	$24K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008640	+2.491%	$2K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008429	−0.017%	$7K	$196K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008421	−0.107%	$1K	—	100x	as long as short