Funding arb · Price arb /

ZORA

all ZORA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Bybit against Lighter+0.012%7-day average — · you sell dearer than you buy

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

Long on Lighter 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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZORA	0.008413	0.0096	pay 0.0012% / 1h	14m 48s	$22K	$11K	3x
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 Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now +0.012%Rate

Funding earned: $0.84
Price spread: +0.012% → 0.000%: $1.19
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$8.97
Costs to cover: 0.110%
Break-even: 81.8 days

Slippage unknown: Lighter: 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 Lighter 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

Lighter: 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-USD	0.0000%	1h	0.008430	+0.199%	$310	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008427	+0.166%	—	$6.6M	—	as long as short
Lighter ZORAlong	+0.0096%	1h	0.008413	long leg	$22K	$11K	3x
Hyperliquid ZORA	+0.0100%	1h	0.008439	+0.309%	$1.6M	$318K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008431	+0.211%	$26K	$28K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008430	+0.202%	$2.5M	$3.9M	50x	as long as short
Bybit ZORAUSDTshort	+0.0100%	4h	0.008414	+0.012%	$2.3M	$1.6M	25x
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008424	+0.131%	$766K	$975K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008420	+0.083%	$157K	$75K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008430	+0.202%	$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	0.008422	+0.107%	$774K	$1.1M	30x	as long as short
Bitget ZORAUSDT	+0.0100%	4h	0.008434	+0.250%	$734K	$209K	25x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008400	−0.155%	$125K	$26K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008600	+2.223%	$2K	$1.2M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008427	+0.170%	$6K	$169K	5x	as long as short
Backpack ZORA_USDC_PERP	+0.0137%	1h	0.008431	+0.214%	$34K	$116K	10x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0230% / S −0.0433%	1h	0.008425	+0.143%	$1K	—	100x	as long as short