Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.037%

Price spread now: Orderly against Aevo+0.038%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Orderly

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

The price spread pays, funding is against you. Orderly is 0.038% dearer against Aevo than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ZRO-PERP	1.1776	0.0104	pay 0.0013% / 1h	2m 47s	$21K	—	3x
Short	Orderly PERP_ZRO_USDC	1.1780	0.0012	get 0.0006% / 4h	2m 47s	$21K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Aevo. 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 AevobpFee OrderlybpOrdersPrice spread, now +0.038%Rate

Funding earned: −$19.32
Price spread: +0.038% → 0.000%: $3.75
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$37.57
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Orderly: 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 Aevo no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Aevo and Orderly: 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.

ZRO on 26 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
01 Exchange ZROUSD	−0.0248%	1h	1.1777	+0.015%	$7K	$3K	5x	as long as short
Orderly PERP_ZRO_USDCshort	+0.0012%	4h	1.1780	+0.038%	$21K	$7K	10x
dYdX ZRO-USD	+0.0088%	1h	1.1783	+0.066%	$21K	$3K	5x	as long as short
Lighter ZRO	+0.0096%	1h	1.1784	+0.076%	$4.4M	$1.5M	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1782	+0.055%	$37.3M	$6.1M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1790	+0.120%	$158K	$153K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1772	−0.030%	$136K	$173K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1769	−0.058%	$22.1M	$30.7M	75x	as long as short
Bybit ZROUSDT	+0.0100%	4h	1.1776	+0.004%	$18.0M	$14.4M	50x	as long as short
OKX ZRO-USDT-SWAP	+0.0100%	4h	1.1770	−0.047%	$3.2M	$8.1M	20x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ZRO_USDT	+0.0100%	4h	1.1770	−0.047%	$1.3M	$1.8M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1768	−0.064%	$19.1M	$2.8M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1774	−0.013%	$2.4M	$1.9M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1778	+0.021%	$2.7M	$2.4M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1773	−0.022%	—	$10.7M	—	as long as short
Backpack ZRO_USDC_PERP	+0.0100%	1h	1.1785	+0.080%	$98K	$204K	20x	as long as short
Variational Omni ZRO	+0.0100%	4h	1.1735	−0.345%	$2.3M	$879K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1750	−0.217%	$37K	$687K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1786	+0.088%	$94K	$823K	5x	as long as short
BloFin ZRO-USDT	+0.0102%	4h	1.1784	+0.072%	$1.1M	$257K	75x	as long as short
Aevo ZRO-PERPlong	+0.0104%	1h	1.1776	long leg	$21K	—	3x
Kraken Futures PF_ZROUSD	+0.0132%	1h	1.1795	+0.168%	$253K	$419K	25x	as long as short
GMX ZRO/USD [ETH-USDC]	L +0.0291% / S −0.2341%	1h	1.1782	+0.053%	$3K	—	100x	as long as short
Nado ZRO-PERP	+0.0293%	1h	1.1778	+0.024%	$1.3M	$123K	5x	as long as short
Injective ZRO/USDC PERP	+0.1159%	1h	1.1790	+0.122%	$12K	$260K	12x	as long as short
Extended ZRO-USD	+0.1856%	1h	1.1774	−0.016%	$784K	$589K	10x	as long as short