Funding arb · Price arb /

ZORA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.006%

Price spread now: Lighter against Variational Omni−0.016%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZORA	0.008483	0.0100	pay 0.0050% / 4h	1h 09m	$126K	$25K	—
Short	Lighter ZORA	0.008482	0.0096	get 0.0012% / 1h	9m 03s	$22K	$14K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$0.84
Price spread: −0.016% → 0.000%: −$1.59
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2.43
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 55 min ago; Lighter: no order-book sample. 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 Variational Omni RFQ quote, 55 min ago	4.74 bp	doesn't fit	97.1 bp −$971	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

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	0.008482	−0.011%	$312	$5	5x	as long as short
BingX ZORA-USDT	+0.0070%	4h	0.008496	+0.149%	—	$6.6M	—	as long as short
Lighter ZORAshort	+0.0096%	1h	0.008482	−0.016%	$22K	$14K	3x
Aster ZORAUSDT	+0.0100%	4h	0.008491	+0.089%	$26K	$12K	5x	as long as short
Binance ZORAUSDT	+0.0100%	4h	0.008488	+0.060%	$2.5M	$4.1M	50x	as long as short
Bybit ZORAUSDT	+0.0100%	4h	0.008483	−0.004%	$2.3M	$1.7M	25x	as long as short
OKX ZORA-USDT-SWAP	+0.0100%	4h	0.008486	+0.031%	$768K	$965K	10x	as long as short
Gate ZORA_USDT	+0.0100%	4h	0.008480	−0.039%	$155K	$78K	25x	as long as short
MEXC ZORA_USDT	+0.0100%	4h	0.008486	+0.031%	$9.9M	$228K	50x	as long as short
KuCoin ZORAUSDTM	+0.0100%	4h	0.008486	+0.031%	$754K	$1.4M	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	0.008496	+0.149%	$726K	$215K	25x	as long as short
Variational Omni ZORAlong	+0.0100%	4h	0.008483	long leg	$126K	$25K	—
SunX ZORA-USDT	+0.0100%	4h	0.008680	+2.318%	$1K	$1.3M	20x	as long as short
Extended ZORA-USD	+0.0104%	1h	0.008483	−0.009%	$6K	$169K	5x	as long as short
GMX ZORA/USD [ETH-USDC]	L +0.0231% / S −0.0433%	1h	0.008483	−0.004%	$1K	—	100x	as long as short
Hyperliquid ZORA	+0.0246%	1h	0.008511	+0.326%	$1.6M	$327K	3x	as long as short
Backpack ZORA_USDC_PERP	+0.0416%	1h	0.008494	+0.126%	$37K	$110K	10x	as long as short