Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against OKX−0.012%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$153as in the Price arb table

costs, in and out, $10k−$1601.599% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 7 days−0.026%−$3 · spread now −0.012%, 7d avg −0.085%

Together, before fees−0.017%−$2 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 0.073% dearer against OKX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZORA-USDT-SWAP	0.008484	0.0100	pay 0.0050% / 4h	1h 53m	$762K	$876K	10x
Short	Bybit ZORAUSDT	0.008483	0.0100	get 0.0050% / 4h	1h 53m	$2.3M	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now −0.012%Rate

Funding earned: $0
Price spread: −0.012% → −0.085%: $7.27
Slippage, 4 orders: −$138.94
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$152.67
Costs to cover: 1.599%
Break-even: never at this rate

Slippage from OKX: live order book, 55 min ago; Bybit: live order book, 1 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 OKX live order book, 55 min ago	2.97 bp	49.0 bp −$49	143.1 bp −$1,431	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.95 bp	36.8 bp −$37	139.0 bp −$1,390	doesn't fit	doesn't fit

ZORA on 17 exchanges

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	0.008503	+0.224%	$293	$19	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008491	+0.083%	—	$6.5M	—	as long as short
Lighter ZORA	+0.0096%	1h	0.008485	+0.012%	$23K	$21K	3x	as long as short
Aster ZORAUSDT	+0.0100%	4h	0.008504	+0.238%	$26K	$12K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008499	+0.177%	$2.5M	$4.0M	50x	as long as short
Bybit ZORAUSDTshort	+0.0100%	4h	0.008483	−0.012%	$2.3M	$1.4M	25x
OKX ZORA-USDT-SWAPlong	+0.0100%	4h	0.008484	long leg	$762K	$876K	10x
Gate ZORA_USDT	+0.0100%	4h	0.008490	+0.071%	$152K	$82K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008497	+0.153%	$9.9M	$205K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008498	+0.165%	$736K	$1.9M	30x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZORAUSDT	+0.0100%	4h	0.008499	+0.177%	$708K	$291K	25x	as long as short
Backpack ZORA_USDC_PERP	+0.0100%	1h	0.008497	+0.153%	$36K	$93K	10x	as long as short
Variational Omni ZORA	+0.0100%	4h	0.008474	−0.120%	$126K	$20K	—	as long as short
SunX ZORA-USDT	+0.0100%	4h	0.008690	+2.428%	$2K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008501	+0.200%	$9K	$210K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008496	+0.141%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0594%	1h	0.008518	+0.401%	$1.6M	$342K	3x	as long as short